Hoboken Condo Market Snapshot 8/12/2011

Real Estate Agent with Sothbey's International Realty
How’s the market?  Stats you can use while shopping for your new Hoboken condo.

Hoboken Condo Market Snapshot 8/12/2011

Total Condos For Sale:  324
Average Price: $506,434
Median Price: $459,950
Avg Days on Market: 88

0-1 bed : 129
Avg: $378,322
Median: $329,880
Avg price per sqft: $522
Avg days on market: 89

2 bed:  161
Avg: $560,482
Median: $515,000
Avg price per sqft: $478
Avg days on market: 82

3 bed: 31
Avg: $703,025
Median: $645,000
Avg price per sqft: $473
Avg days on market: 122

Total Condos Under Contract:  138      Average days on market: 89    Avg price per sqft: $474.52

Total Under Contract Last 30 days: 62

30-Day Absorption Rate: 5.22 months (62 units under contract last 30 days divided into 324 total units)

6 months or higher - Buyers Market

3-6 months - Balanced Market

3 months or under - Sellers Market

Hows YOUR market?  The figures above represent an overall Hoboken condo market snapshot.  Your individual situation or property can vary significantly and should be assessed properly.

You can buy, sell, rent or invest with confidence by having real-time “hyper local” information so you can make the best decision for you and your family.  Let me know how I can help you achieve your goals! Contact me today!
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Edward Perez, Broker Associate
NJ Luxury Group at Sotheby's International Realty
201.344.2886 mobile

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