Hoboken Condo Sales - April Results are In and They are Good

Hoboken Condos Lure Buyers in April

April was a pretty good month for Hoboken condo sales. The end of month numbers are in and Hoboken condo sales remain fairly strong. I know, there are stories in the press every day about the collapse of the housing market and we all have witnessed prices skyrocket at the gas pump and grocery store. While our country has some significant economic woes that are likely to get worse before they get better but, for various reasons, people want to live in Hoboken and continue to be willing to pay top dollar for Hoboken real estate.

Average Sales Price of Hoboken Condos is Up 8%

April sales figures represent a 8% increase in average sales price for a Hoboken condos compared to last month. The average price of condo is now just over $560,000. That's 5% over the same period last year but 3% less than April 2006.

Price per Square Foot Down Slightly

Last month the average price per square foot for a Hoboken condo was $520 and in April it was $517. Of course, that is just an average and the real number varies depending on the usual factors - location, condition, and promotion. The mix of units sold each month also has an impact on this figure. Smaller units tend to sell for more per square foot than large ones. So if more large units sell in a given month it may tend to pull down the average. This may have been the case here since the average size jumped from 1000 square feet in March to 1087 in April.

Hoboken Property Is Selling Briskly - 72 Days on Market is Average

The standard measure of sales activity is "days on market". This number dropped from 90 days in March to 72 days in April. Of course, the nice weather has an impact on how many buyers are willing to go out condo shopping. We are in the midst of prime selling season.

Here is a Chart View of Monthly Hoboken Condo Sales To Date:

So How Much is My Condo Worth?

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