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THE MURRAY-FILPPS TEAM
HOBOKEN to the BURBS, Prime Real Estate Group, 201-792-4300, hobokentotheburbs.com
Information provided by Hudson County MLS, deemed reliable but not guaranteed
Q1, 2017
This free report is created by The MURRAY-FILIPPS TEAM of
HOBOKEN to the BURBS as a way to provide our clients with
current information on the Hoboken real estate market. If you
know of a friend, family member, or colleague who might like this
report, please let us know and we'd be happy to include them on
the monthly updates.
We are never too busy for your selling, buying or rental referrals.
Our business is built on referrals. Because we work by referral, we are able to spend our time
and resources providing our clients with quality reports and other hard to get information
instead of prospecting.
Sincerely,
Todd Filipps
and
Brian Murray
Todd Filipps
Brian Murray
(720) 600 - 4882 TEAM
(201)-792-4300 OFFICE
twitter: @Hoboken2Burbs
Hoboken Real Estate Market Report, Q1, 2017
Inventory. Not Prices. Some segments of the condo market are under one month
of inventory. Rising interest rates are contributing to buyer momentum. Buy
now before the rates go up and affordability goes down even more. Contracts
are down by volume 20%. This is directly a result of low inventory. Prices are up
3% over this time in 2016 but look for the recent price increases to affect the
market as these homes close in Q2. Has Hoboken hit a ceiling or is it a push
through to new heights? Higher interest rates and the corresponding higher cost
of financing will make Hoboken a NYC Metro market darling with first time and
move up buyers. The Hoboken affordability in relation to Brooklyn and Queens
make Hoboken a solid long term housing choice for many “budget” conscious
singles and families.
move.
110 111
8597
87 89
73 6958 58
45
82
98 97
112
76
59
77
63 62 57 5750
61
92
0
20
40
60
80
100
120
Mar Ap
r
May
Jun
e
July
Au
g
Sep
t
Oct
No
v
De
c
Jan
Feb
Mar
Ap
r
May
Jun
e
July
Au
g
Sep
t
Oct
No
v
De
c
Jan
Feb
Mar
chCondo Contracts by Month 2016-2017
Hoboken Real Estate Market Report, Q1, 2017
Buyer Angst:
100.4% list to sold
Median Days on Market: 20
The Q1 inventory remains was historically low at 105 condos as compared to 180
condos in the market during the spring a year ago. .
Sub 200 is the new normal.
With less than 60 condos available under a millions dollars, there is no discount,
especially for the first time home buyer and middle market buyer. Buyers are moving
quickly as half the homes are lasting only a couple of weeks or less.
In a normal market, buyers with 20% down were considered strong buyers to a seller. In today’s Hoboken market, buyers who don’t have more than a 20% down payment are losing out time and time again. Sellers are
taking cash. A seller is willing to take a little less in order to guaranty a sale versus a
higher offer with a mortgage contingency. Buyers without the latest strategies to
combat cash offers lose every time.
Conversely, sellers face a difficult task of find a place to land after selling their home. It’s
near impossible to buy with a sale contingency of your current home. Sellers without strategies to be able to purchase
from a position of strength are losing out in the burbs to buyers with cash. Hoboken To The Burbs and its partners work with sellers
to develop strategies for each town and each selling and buying situation. The spring has the most homes available, so have the leverage to purchase from many choices.
Want to know if Hoboken has peaked? Call Hoboken to the Burbs and we'll share our
analysis.
Hoboken Real Estate Market Report, Q1, 2017
66
76
9599 100
79 77
64
5463
51
35
59
0
20
40
60
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120
Mar Apr May June July Aug Sept Oct Nov Dec Jan Feb Mar
Hoboken Condos Number of Sales By Month 2016-2017
5%
29%
54%
13%
Sold Condos By By Bedroom, Q1 2017
Studio 1 BR 2BR 3BR
Median Sold Price $522,500
Avg. sale price to list price 100.6%
Total Sales Volume
$26,345,400
Min Sale $335,000
Max Sale $999,000
Hoboken Real Estate Market Report, Q1, 2017
Total Sold 151
Total under contract (includes contract to
close in Q2 201
Avg. Days on Market 39
Median Days on Market 21
Avg. Sold Price $752,150
Median Sold Price
$683,500
Avg. sale price to list price
100.4%
Total Sales Volume
$107,708,400
Min Sale $295,500
Max Sale $2,499,000
Total Sold 48
Total under contract (includes contract to
close in Q2) 68
Avg. Days on Market 29
Median Days on Market 20
Avg. Sold Price $548,862
Q1 2017 Market Snapshot (1 BR Condos)
Q1 2017 Market Snapshot (Condos)
Median Sold Price
$1,168,000
Avg. sale price to list price
98.8%
Total Sales Volume
$25,841,500
Min Sale $665,000
Max Sale $2,499,000
Median Sold Price
$730,000
Avg. sale price to list price
99.9%
Total Sales Volume
$52,845,500
Min Sale $430,000
Max Sale $1,325,000
Hoboken Real Estate Market Report, Q1, 2017
Total Sold 20
Total under contract (includes contract
to close in Q1) 29
Avg. Days on Market 65
Median Days on Market 39
Avg. Sold Price $1,292,050
Q1 2017 Market Snapshot (3 BR Condos)
Total Sold 71
Total under contract (includes contract to
close in Q2) 86
Avg. Days on Market 39
Median Days on Market 25
Avg. Sold Price $780,121
Q1 2017 Market Snapshot (2 BR Condos)
Address
Unit Numbe
r Sq Ft DOM
Beds Sold Price
Sold Hoboken Condos Q1 2017
MLS # Address Unit
Number Approx Sq
Ft DOM Bedrooms Sold Price
170000533 116 ADAMS ST 1 405 17 0 $295,500
170000055 209 2ND ST 1R 425 41 1 $335,000
160016661 327 MONROE ST 2 500 25 1 $339,000
160016978 203 WASHINGTON ST 201 13 0 $340,000
170000856 605 1ST ST 1F 479 8 1 $340,000
160007011 116 ADAMS ST 6 195 1 $345,000
170001633 463 1ST ST 5A 450 8 0 $345,000
160015759 308 MONROE ST 3R 551 16 1 $355,000
160017887 231 GRAND ST 5R 662 35 1 $356,000
170000761 605 1ST ST 3R AKA 6 550 14 1 $360,000
170000479 133 MADISON ST 4L 467 0 1 $380,000
160015398 82 JACKSON ST A6 665 54 1 $382,000
160016811 120 WILLOW AVE 2 22 1 $390,000
160016155 159-161 NEWARK ST 3A 592 2 1 $402,500
160016419 1025 WASHINGTON ST 2F 66 1 $405,000
170004197 120 WILLOW AVE 4 500 32 1 $415,000
160017945 420 MADISON ST 8 (4R) 614 5 1 $425,000
170002851 400 MADISON ST 7 550 21 2 $430,000
170004236 709 ADAMS ST 2 1765 59 2 $430,000
170000128 741 PARK AVE 3 671 26 0 $436,000
160013311 124 MADISON ST 1L 500 98 1 $445,000
160017737 809 WILLOW AVE 4R 661 7 1 $460,000
170000083 91 ADAMS ST 4 789 30 1 $469,000
170000175 805 PARK AVE 1R 649 56 2 $470,000
170000217 228 MONROE ST 2RS 720 21 1 $483,000
160015145 73 GARDEN ST 4L 648 78 2 $488,000
160016440 809 WASHINGTON ST 5L 800 32 2 $490,000
160017744 129 HARRISON ST 2 850 9 1 $495,000
160016374 803 WILLOW AVE 4N 770 25 2 $499,000
160016535 1302 PARK AVE 1S 750 106 1 $503,000
170001038 300 NEWARK ST 2B 700 10 1 $506,000
160012439 422 GRAND ST 4 700 63 2 $507,000
170000505 203 14TH ST 2B 747 4 1 $510,000
160016380 222 GRAND ST 4H 720 6 1 $517,000
160017373 659 1ST ST 303 761 52 1 $520,000
160016971 159 NEWARK ST 1B 677 13 1 $525,000
160017422 323 JACKSON ST 202 973 27 2 $525,000
160017886 700 1ST ST 6L 898 63 1 $525,000
170000636 818 JEFFERSON ST 3c 7 1 $525,000
170001695 207 14TH ST 3L 679 20 2 $530,000
160017007 501 9TH ST 404 760 15 1 $535,000
170002005 650 2ND ST 2H 791 11 1 $539,000
160012026 1120 HUDSON ST 8 889 35 2 $545,000
170000878 70 PARK AVE 1L 646 9 2 $545,000
170000484 81 GRAND ST 2A 725 13 1 $550,000
160017010 456 9TH ST 35 814 12 1 $555,000
160017494 314 HUDSON ST 6 851 56 2 $555,000
160016998 1500 HUDSON ST 9A 740 25 1 $565,000
170000169 822 GARDEN ST 2 812 20 1 $575,000
170000818 708 GARDEN ST 3 856 3 2 $575,000
170002400 108 JACKSON ST 2C 700 4 1 $576,500
160015203 1300 GRAND ST 518 15 1 $585,000
170001496 420-22 JEFFERSON ST 2e 800 4 2 $585,000
160015330 253 10TH ST G2 970 20 2 $599,000
170000631 610 NEWARK ST 6E 925 11 2 $599,000
160015598 1120 CLINTON ST 4C 910 47 1 $599,900
170001146 509 MADISON ST 2C 805 7 2 $602,000
160017486 1500 HUDSON ST 6N 735 22 1 $606,500
160013890 551 OBSERVER
HIGHWAY 4E 1166 63 2 $610,000
160017400 700 BLOOMFIELD ST Gdn 856 20 2 $610,000
170002389 1500 WASHINGTON ST 12N 735 2 0 $625,000
160014176 800 JACKSON ST 710 1122 74 2 $630,000
170000657 1500 WASHINGTON ST 7J 735 7 0 $635,000
160014808 517 JACKSON ST 302 1515 107 2 $637,500
160011225 812 GARDEN ST 4 1014 195 2 $640,000
160011140 117 BLOOMFIELD ST 1A 956 41 2 $653,000
160014121 607 JEFFERSON ST 2 1340 56 3 $665,000
160013110 812 GRAND ST 405 929 72 2 $670,000
160014233 1450 WASHINGTON ST 215 763 77 1 $672,000
160017026 610 NEWARK ST 3B 1045 62 2 $675,000
160017495 551 OBSERVER
HIGHWAY 6D 1166 15 2 $680,000
160014477 308 GARDEN ST 2R 1023 76 2 $682,000
170000747 1450 WASHINGTON ST 614 771 7 1 $685,000
160016958 700 1ST ST 5K 1207 22 2 $686,000
160016680 122 JACKSON ST 3A 1341 25 3 $690,000
160015670 920 JEFFERSON ST 404 1128 28 2 $695,000
160016828 300 NEWARK ST 8F 1122 29 2 $695,000
160017833 1450 WASHINGTON ST 613 778 33 1 $695,000
160016816 901 GARDEN ST 1 834 20 1 $699,000
160016431 551 OBSERVER
HIGHWAY PHD 1166 10 2 $700,000
170000225 830 MONROE ST 6B 1006 6 2 $700,000
170000546 1010 WILLOW AVE 1 950 29 1 $700,000
160016281 1331 GRAND ST 404 1148 8 2 $710,000
160016329 610 MONROE ST D 1330 89 2 $715,000
160014199 904 JEFFERSON ST 3F 1041 20 2 $725,000
160016087 501 9TH ST 614 1050 114 2 $730,000
160018024 700 1ST ST 13RS 1220 6 2 $730,000
160017560 109 JACKSON ST 4F 1075 25 2 $735,000
170000696 65 JEFFERSON ST 4 1324 56 3 $745,000
160015485 650 2ND ST 4L 1413 49 2 $749,000
160016056 400 9TH ST W2F 1245 35 2 $750,000
170000353 700 1ST ST 14A 1225 4 2 $750,000
170000962 736 GARDEN ST 2 1163 12 2 $755,000
170001283 118 WILLOW AVE 1 868 13 2 $755,000
160016635 521 ADAMS ST 1 1323 47 2 $759,000
160017903 1327 GRAND ST 504 1148 4 2 $765,000
170000968 109 JACKSON ST 2D 1235 14 2 $770,000
170002171 109 JACKSON ST 3E 1166 0 2 $771,000
160015318 507 MADISON ST 2 1289 4 3 $775,000
170001327 1331 GRAND ST 603 1186 9 2 $775,000
160013190 800 JACKSON ST 706 1180 82 2 $781,000
160016606 70 ADAMS ST 2F 1142 29 2 $800,000
160016760 1125 MAXWELL LANE 647 895 29 1 $800,000
170002065 215 GRAND ST 2R 1319 5 2 $818,000
160017044 402 9TH ST E2G 1296 25 2 $832,000
160018189 121 JACKSON ST 4 1336 54 3 $849,000
160017518 600 HUDSON ST 1D 1176 7 2 $850,000
170000669 830 MONROE ST 2J 1380 6 2 $850,000
160016955 600 HUDSON ST 4A 1220 18 2 $855,000
170001672 83 GRAND ST 3A 1237 7 2 $855,000
160015205 830 MONROE ST 3E 1393 54 2 $859,000
160016993 224 BLOOMFIELD ST 11 1202 5 2 $869,000
160014258 610 CLINTON ST 2W 1405 0 1 $875,000
160014789 213 MONROE ST 1 1309 34 2 $875,000
160017198 208 JACKSON ST 3 1260 11 2 $875,000
160016962 609 OBSERVER
HIGHWAY 303 1331 4 2 $891,000
160017947 1450 WASHINGTON ST 620 1115 35 1 $903,000
160015271 213 CLINTON ST 2 1390 13 2 $905,000
160016267 1100 MAXWELL LANE 905 926 51 1 $920,000
160013782 313 GRAND ST 4 1379 82 3 $925,000
160017861 99 PARK AVE 4C 1371 45 2 $954,000
170002595 1500 WASHINGTON ST 5F 1185 160 2 $980,000
160013756 800 JACKSON ST PH3 1574 51 2 $995,000
160016720 618 JEFFERSON ST 1 1350 16 2 $995,000
160017922 98 PARK AVE 3C 1569 3 1 $998,000
160015910 1125 MAXWELL LANE 1202 955 12 1 $999,000
160015602 650 2ND ST 2C 1732 54 3 $1,067,000
160015507 209 GARDEN ST 3 1496 6 3 $1,076,000
170001273 128 HARRISON ST 602 1597 11 3 $1,099,000
160013685 827 BLOOMFIELD ST 303 1590 86 3 $1,115,000
160014931 1450 WASHINGTON ST 1007 1253 102 2 $1,125,000
160006824 1023 WASHINGTON ST 3 1368 211 2 $1,140,000
160015442 108 JACKSON ST 5A 1890 13 3 $1,221,000
160015983 1025 MAXWELL LANE 1006 1298 48 2 $1,250,000
160016238 1100 MAXWELL LANE 1103 1315 51 2 $1,285,000
160016102 1500 HUDSON ST 5H 1360 9 2 $1,325,000
160016656 1450 WASHINGTON ST 210 1504 103 3 $1,330,000
170001811 609 OBSERVER
HIGHWAY PH4 2271 21 3 $1,385,000
160015819 82 MADISON ST B 2200 14 3 $1,450,000
160004471 401 JEFFERSON ST 2E 1948 243 3 $1,460,000
170000240 401 JEFFERSON ST 3W 2102 10 3 $1,585,000
170000994 1500 GARDEN ST A 1812 8 3 $1,705,000
160004478 401 JEFFERSON ST 4E 2592 233 4 $2,079,200
160004479 401 JEFFERSON ST 4W 2651 233 5 $2,120,800
160008865 1023 WASHINGTON ST 1 0 4 $2,499,000
The HOBOKEN to the BURBS group helps families make a seamless transition to the burbs. We offer seminars, bus tours and
personalized consultations with top suburban real estate agents who specialize in New Jersey’s most popular towns.
Buyers learn more than they ever could on their own. They gain valuable insights from our burbs specialists’ first-hand accounts of the
downtowns, commutes, communities, key areas and amenities that may be essential in deciding which town is the best fit for them. Buyers also
get the latest winning strategies that may be the difference between missing or buying a dream home in these competitive markets.
Sellers benefit from our unique Urban-and-Suburban approach. An integrated team watches over the entire selling-and buying
process to anticipate and avoid any contingencies and keep both sides moving smoothly. Our clients can make more money with fewer headaches and enjoy an easy start to life in the suburbs.
HOBOKEN to the BURBS was co-founded by Todd Filipps and Brian Murray. We have over 25 years of
local real estate expertise. All of our references and testimonials
are readily furnished.
