Monday, September 22, 2014

July - August 2014- Review for Monthly Unit Home Sales for Hoboken, NJ

Quarterly Review, hudson real estate monitor, Donna Antonucci 
We closed 217 condos in Hoboken in July - August period. 120 in July and 97 in August period. 

We ended this period with 191 active listings. Although as prices go up, hopefully more will be willing to sell.  

Summers are the preferred time to shift the homes. Period recorded 
average sale of 109 properties, which is higher from the previous quarter i.e. 101 unit average sales.

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 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.

Above graph shows monthly units sold by month. Numbers are 120 and 97 unit during last quarter and market is ready for more properties expected to come in the market during last quarter of the year.

The above chart shows the total sales volume in $ and the trend of the average price of property during July-august 2014. Sales Volume was highest in the month of July. August recorded the small decrease in the total sales volume. I suggest this as the best time for investors to buy properties at lower prices. 

Here is a chart for home sales for July-August 2014.