October 2010 Hoboken Condo Sales Statistics
By Edward Perez
(Sothbey's International Realty)
Here are the final sales figures for October 2010 compiled using the Hudson County Multiple Listing Service. How’s the real estate market in Hoboken? I’m often asked this question. My answer.. “that depends if you’re a buyer, seller, renter or investor!” In the October 2010 condo statistics, signed contracts for Hoboken condos were down 45.8% compared with same month in 2009. 46 contracts were signed last month compared with 85 during the same period last year. Not welcoming news if you’re a seller! Now on the flip side, a buyer might embrace this news with open arms! Buyers face an improved affordability environment with average closed sales prices off 9% to $441,408 in October 2010 from $485,190 just a year ago. Interest rates also remain at historic lows with 30 year fixed ra...