Biggest Ever Price Reduction For A Hoboken Condo?

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Biggest Ever Price Reduction For A Hoboken Condo?

Those of you who receive my Quarterly Hoboken Real Estate Reports know that I always include the least and most expensive properties currently for sale and sold during that time period. If anybody has paid attention over the past year there was one property priced above the rest. A four bedroom for $4.2 million.

Today it was reduced to $2.6 Million dollars. It had been on the market for one year and five days at it’s list price. Today… It’s a 38.1 % price reduction. In absolute terms, $1.6million off. I’ve only been working in this market for eight plus years and most of that time property values have gone up, but if this isn’t a record, it’s on the medals podium.

Maybe the sellers have been reading my blogs about making meaningful price reductions and not some cosmetic changes that affect nothing? …Or they grew up with Crazy Eddie.

Stat of the day:
Hoboken Condo Market
Last Three Weeks
New 173
Price change 112

No Price change bigger than this one though.
Biggest Ever Price Reduction For A Hoboken Condo?

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