The numbers didn’t seem to reflect what I am seeing on the ground here. So I did a little statistical exploration.
Here’s an excerpt from the article “Meanwhile, the average price for a one-bedroom unit has dropped 9.3 percent since January — to $420,797 — and 40 percent of those units now on the market have had their asking prices reduced, by an average of 3.3 percent.”
I have no idea what they are talking about. Asking price? Is that any indicator of the market? Why print it at all? I think I’ll list a ten million dollar one bedroom just to show how useless it is to look at average ask price.
My research says that in Q4 2007 seventy three Hoboken one bedrooms sold for an average sale price of $391k. Since April 1, 2008 seventy seven Hoboken one bedrooms sold for an average price of $416k. This is about 6% INCREASE not a 9.3% decline.
Maybe the stats should be left to the Wall Street Journal.
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Brian Murray is a broker salesperson at Prime Real Estate Group in Hoboken. As a broker, I have advanced training and a deeper understanding of the real estate market than a sales associate. I am Hoboken resident who has lived in Hudson County for the past fifteen years. I have been a full time realtor in Hoboken for the past thirteen years.
Brian really helped me with his knowledge in this crazy market. Could not have done it without him.