hoboken real estate market report q4 2009

HOBOKEN REAL ESTATE MARKET REPORT

Q4 2009

CONDOMINIUMS

501 Adams St, Hoboken, NJ: $549,000

HOBOKEN REAL ESTATE MARKET REPORTQUARTERLY MARKET ANALYSIS Q4 2009

©2010 by Hudson Realty Group at Halstead Property New Jersey LLC. All Rights Reserved. 2

CONDOMINIUMS

4Q 2009 % Change 4Q08 - 4Q09 4Q 2008Average Sales Price $485,151 -3.9% $504,653

Average Price / SqFt 482 -9.8% 534

Total Value of Condos Sold $100,426,356 28.4% $78,221,160

Average DOM of Sold Condos 102 15.9% 88

Inventory (months) 7.4 -58.2% 17.7

On Market at QTR End 444 -11.4% 501

Listed within QTR 253 -16.2% 302

Under Contract within QTR 180 111.8% 85

Closed within QTR 208 33.3% 156

CONDOMINIUM MARKET SUMMARY

Q4 2009 1 BDRM 2BDRM 3BDRMAverage Sales Price $364,450 $512,807 $783,353

Average Condo Size 730 1106 1690

Average Price / SqFt 503 467 472

Total Value of Condos Sold $26,240,400 $57,434,404 $15,667,052

Average DOM of Sold Condos 100 101 114

Closed within QTR 72 112 20

CONDOMINIUM MARKET SUMMARY BY TYPE



CONDOMINIUMS

$485k

$400k

$450k

$500k

$550k

$600k

4Q04 1Q05 2Q05 3Q05 4Q05 1Q06 2Q06 3Q06 4Q06 1Q07 2Q07 3Q07 4Q07 1Q08 2Q08 3Q08 4Q08 1Q09 2Q09 3Q09 4Q09

AVERAGE SALE PRICE

$364k

$513k

$783k

$200k

$400k

$600k

$800k

$1,000k

$1,200k


AVERAGE SALE PRICE 1 Bed - Average Sale Price2 Bed - Average Sale Price3 Bed - Average Sale Price



CONDOMINIUMS

503

467

472

350

400

450

500

550

600

650


AVERAGE SALE PRICE PER SQFT 1 Bed - Average Price / SqFt2 Bed - Average Price / SqFt3 Bed - Average Price / SqFt

482

400

450

500

550

600


AVERAGE SALE PRICE PER SQFT



CONDOMINIUMS

103110

119

9384 87

7786

49

85

6055 57

63

79 82

92

81

6672

49

2925

31

49

39 38

5866

79

51

76

66

84

5046

0

20

40

60

80

100

120

140

J-07

F-07

M-0

7

A-0

7

M-0

7

J-07

J-07

A-0

7

S-07

O-0

7

N-0

7

D-0

7

J-08

F-08

M-0

8

A-0

8

M-0

8

J-08

J-08

A-0

8

S-08

O-0

8

N-0

8

D-0

8

J-09

F-09

M-0

9

A-0

9

M-0

9

J-09

J-09

A-0

9

S-09

O-0

9

N-0

9

D-0

9

CONTRACTS SIGNED PER MONTH6 Mo Moving Avg

215

301

259

183

126

210

270

216 207

332

264

212 200 199

255

187

85

126

203 193 180

0

75

150

225

300

375

450


CONTRACTS SIGNED PER QUARTER

6 Mo Moving Avg



CONDOMINIUMS

444

253

180

0

100

200

300

400

500

600

700


MARKET ACTIVITY:INVENTORY, NEW LISTINGS & UNDER CONTRACT

# of Condos on Market

# of Condos Listed

# of Condos Under Contract



CONDOMINIUMS

$26,240,400

$57,434,404

$15,667,052$0

$20,000,000

$40,000,000

$60,000,000

$80,000,000

$100,000,000

$120,000,000


TOTAL VALUE OF CONDOS CLOSED1 Bed - Total Value Closed

2 Bed - Total Value Closed

3 Bed - Total Value Closed

$100,426,356

$50,000,000

$75,000,000

$100,000,000

$125,000,000

$150,000,000

$175,000,000

$200,000,000


TOTAL VALUE OF CONDOS CLOSED



CONDOMINIUMS

102

25

50

75

100

125

150

175


AVERAGE DAYS ON THE MARKET OF CLOSED SALES

101

114

0

50

100

150

200


AVERAGE DAYS ON THE MARKET OF CLOSED SALES 1 Bed - Average DOM2 Bed - Average DOM3 Bed - Average DOM



CONDOMINIUMS

7.4

0

2

4

6

8

10

12

14

16

18

20

2Q06 3Q06 4Q06 1Q07 2Q07 3Q07 4Q07 1Q08 2Q08 3Q08 4Q08 1Q09 2Q09 3Q09 4Q09

MONTHS OF INVENTORYACTIVE / UNDER CONTRACT

HOBOKEN REAL ESTATE MARKET REPORT

METRO NJ OFFICE: 79 Hudson Street, Hoboken NJ, 201.478.6700

Visit hudsonrealtygroup.com for access to all of our reports, listings, neighborhood information and more.

PREPARED BY: HUDSON REALTY GROUP AT HALSTEAD PROPERTY NJ LLC

©2010 by Hudson Realty Group at Halstead Property New Jersey LLC. All Rights Reserved. This information may not be copied, commercially used or

distributed without Halstead Property’s prior consent. This data includes all condos that were listed in within the Hudson County MLS, MLS records do

not include some new construction developments. While information is believed true, no guaranty is made of accuracy.

hoboken real estate market report q4 2009

Real Estate