The Barn Door

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The old axiom about closing the barn door after the horse has left the stable seems like it applies to Hoboken price changes. In the last month there have been 117 price changes. Almost as many as new properties to hit the market. The amazing thing to me is that the average days on market for the price change properties is 98. That’s like three and a half months. Unless you are looking at new construction that’s still months away from completion, what are the sellers waiting for?

If a property gets most of its showings in the first couple of weeks to market and then tapers off, why would a seller wait three and a half months? why would an agent with a six month listing be marketing an overpriced property for more than half the time?

Buyers: It’s really time to rely on your agent. The well priced condos are selling fast. The overpriced stuff is sitting. If your a normal buyer, it’s hard to tell the difference with something new to the market. Rely on your agent for analysis and advice. If your agent is trying to build a long term relationship with you and not just make a sale, the agent can be the guide you need in these rapids.

Hoboken Condos
Past 30 days
New to market 134
Price changes 117
Information deemed reliable but not guaranteed

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