Monday, January 20, 2014

2013 - Year Review for Monthly Unit Home Sales for Hoboken, NJ

Volume was good in last year.  We closed 1073 condos in Hoboken last Year. 142 in Q1, 310 in Q2, 347 in Q3 and 274 in last quarter. Summer was the most favorable time of last year at 347 units were sold during that period. This is a significant difference.

We ended 2013 with 169 active listings. 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. 

Unit Sold was higher in summer, average in the fall and spring and very low in Winter. 2 Bedroom units were most preferred by seller and buyer last year followed by 1 bedroom units. 

Take a look at the volume graph above.  You can see that two bedrooms have the highest sales in average for Q3 which is typical for Hoboken.  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 Year 2013
, the total sales were lower with 40 properties sold in the month of January,  July recorded the highest sales month for overall units sold.  Q1 of 2013 recorded lowest unit sold with 40, 40 and 62 in the month of Jan, Feb and Mar respectively.

 June was highest in terms of total sales volume followed by July and August. Feb recorded the lowest sales volume. Average prices were on peak in the month of Aug. The above graph does not show any significant change in Prices but sales was effected by other market factors.

Here is a chart of home sales from January to December 2013.