It’s the most frequently asked question. Family, friends, clients, buyers, sellers, renters, investors….everyone wants to know. The answer is…hanging in there. Sellers know that buyers are taking longer to decide these days. (When the cost of filling your tank equals a mortgage payment, there is cause to pause.) Buyers know that sellers aren’t giving it away either. The go go days are over. Buyers have choices, sellers have choices.
Looking at the five month year over year numbers. Condos sales are down 28% in volume over last year. BUT the average price is up nearly .5%. So it’s good news for buyers. Lot of choices. It’s good news for sellers too. The home values are holding.
Hoboken Condos 2008
Five Months Year to Year
Jan -May 2007
Avg price: $530.8k
Jan -May 2008
Avg price: $532.8k
Information deemed reliable but not guaranteed