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  • Hoboken Real Estate Market Q2 2014

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    David S Wrenn
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    Hoboken's housing market saw record highs in the second quarter of 2014, with average and median sales prices up over 5% from the previous quarter and 15-16% from a year ago. The number of sales more than doubled from the first quarter. While inventory levels rose from a year ago, absorption rates improved significantly with homes selling about a month faster on average than a year prior. Overall, the quarter demonstrated strong price growth and a very active sales market in Hoboken.

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    Be an informed real estate consumer in Hoboken, NJ now.

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    Hoboken's housing market saw record highs in the second quarter of 2014, with average and median sales prices up over 5% from the previous quarter and 15-16% from a year ago. The number of sales more than doubled from the first quarter. While inventory levels rose from a year ago, absorption rates improved significantly with homes selling about a month faster on average than a year prior. Overall, the quarter demonstrated strong price growth and a very active sales market in Hoboken.

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    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
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    18 views1 page

    Hoboken Real Estate Market Q2 2014

    Uploaded by

    David S Wrenn
    Hoboken's housing market saw record highs in the second quarter of 2014, with average and median sales prices up over 5% from the previous quarter and 15-16% from a year ago. The number of sales more than doubled from the first quarter. While inventory levels rose from a year ago, absorption rates improved significantly with homes selling about a month faster on average than a year prior. Overall, the quarter demonstrated strong price growth and a very active sales market in Hoboken.

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    © All Rights Reserved
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    of 1

    HOBOKEN

    2Q
    2014

    MARKET OVERVIEW
    CONDO AND CO-OP SALES

    Another Record-Setting Quarter for Hoboken Sale Prices


    SOLD (S-Closed Sales)

    2Q 2014

    1Q 2014

    %Chg (qtr)

    2Q 2013

    %Chg (yr)

    Average Sales Price

    $601,661

    $569,855

    +5.6%

    $521,949

    +15.3%

    Average Price per SqFt

    $585

    $561

    +4.3%

    $501

    +16.8%

    Median Sales Price

    $565,000

    $542,000

    +4.2%

    $499,000

    +13.2%

    Sales Volume (units)

    291

    161

    +80.7%

    179

    +62.6%

    Days on Market Avg. (list to contract)

    29

    41

    -29.3%

    38

    -23.7%

    Sale/Listing Avg. (discounted sale avg.)

    99.9%

    98.8%

    +1.1%

    99.2%

    +0.7%

    Price Reductions

    39 (13.4%)

    37 (23.0%)

    -41.7%

    30 (16.8%)

    -20.2%

    Sold At or Above List Price

    161 (55.3%)

    65 (40.4%)

    +36.9%

    82 (45.8%)

    +20.7%

    Sold At or Above Discounted Sale Avg.

    163 (56.0%)

    80 (49.7%)

    +12.7%

    N/A

    N/A

    MARKET TREND (based on PpSF)

    2Q 2014

    1Q 2014

    4Q 2013

    3Q 2013

    since

    Market Value Change Avg.

    5.6%

    -0.9%

    +4.0%

    +0.6%

    +16.8%

    ALL PENDING (DABO+Under Contract)

    07/07/2014

    04/01/2014

    %Chg (qtr)

    07/01/2013

    %Chg (yr)

    Pending Sales

    233

    220

    +5.9%

    185

    +25.9%

    Days on Market Avg. (list to contract)

    33

    35

    -5.7%

    41

    -19.5%

    ACTIVE (A-Available + TOM-Temp Off Market) 07/07/2014

    04/01/2014

    %Chg (qtr)

    07/01/2013

    %Chg (yr)

    Current Inventory*

    208

    165

    +26.1%

    161

    +29.2%

    New Inventory Avg. (per month)

    139

    115

    +20.9%

    95

    +46.3%

    Rate of Sale Avg. (per month)

    85

    51

    +66.7%

    56

    +51.8%

    Absorption Rate Avg. (months)

    2.5

    3.2

    -21.9%

    2.9

    -13.8%

    2Q 2013

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