Monday, July 23, 2012

Q2 Review for Monthly Unit Home Sales for Hoboken


Volume was good in Q2 as compared to Q1.  We closed 229 condos in Hoboken last Quarter vs 147 in Q1.  This is a significant difference.  

We ended Q2 with 236 active listings off a peak of about 284 which indicates sellers are still reluctant to list. Although as prices go up, hopefully more will be willing to sell.  This is assuming interest rates continue to be at these record low levels. 

People bought more properties in this Quarter Vs last Quarter. 

Take a look at the volume graph above.  You can see the Two bedrooms have the highest sales in average for Q2 which is typical for Hobken.  The two bedroom is the most versatile for Hoboken's audience. A two bed is good for roommates, that young professional that wants a home office, a newly married couple and for the couple with their first child.

From the beginning of the quarter 2 bedroom sales were too high. May was the highest sales month for 2 bedroom units. April was lowest 2 bedroom sales for Q2.

In Q2, Sales of 1 bedroom units were almost half of 2 bedroom units on average. All months in Q2 shows the average sales of 21 units for 1 Bedrooms.

Home sales for 3 bedrooms were lowest for Q2. There was a normal start of Q2 for 3 bedroom home sales. There was almost same trend of sales. April  was highest in sales.

Here is a chart for home sales from April to June 2012.

Information Provided by Donna Antonucc
Prudential Castle Point Realty