🏙️ HOBOKEN DAILY MARKET UPDATE - July 7, 2025
Your daily pulse on Hoboken's real estate market
📊 TODAY'S MARKET ACTIVITY
Welcome to your daily Hoboken real estate market update. Today's activity showcases strong momentum in the condominium segment, with multiple properties progressing through various stages of the sales process across different price points.
🆕 NEW LISTINGS (ACTIVE)
Fresh inventory hitting the market
No new listings entered the active market today.
The continued absence of new inventory reinforces the tight supply conditions characterizing Hoboken's current market. This scarcity is driving the rapid absorption rates we're observing across all price segments.
🤝 ACCEPTED OFFERS (ATTORNEY REVIEW IN PROGRESS)
Properties that went under contract today
Two properties currently in attorney review:
600 Hudson Street, Unit 2C - $1,280,000
- 2 bedrooms, 1,375 sq ft ($930.91/sq ft)
- 0 days on market - Immediate acceptance upon listing
- Contract date: July 1, 2025
833 Willow Avenue, Unit 2 - $1,450,000
- 3 bedrooms, 1,577 sq ft ($919.47/sq ft)
- 5 days on market - Swift absorption in family-sized segment
- Contract date: July 2, 2025
Both properties demonstrate exceptional buyer demand for well-priced condominium units under $1.5 million, with absorption times ranging from immediate to just five days.
📋 UNDER CONTRACT
Properties in the contract-to-closing pipeline
One property progressing toward closing:
502 Monroe Street, Unit 401 - $2,275,000
- 4 bedrooms, 1,953 sq ft ($1,164.87/sq ft)
- 68 days on market - Extended marketing period in luxury segment
- Contract date: July 1, 2025
This premium four-bedroom unit represents the luxury tier of Hoboken's condominium market, where buyers invest more time in evaluation before committing to significant purchases.
💰 CLOSED SALES
Completed transactions
No closings recorded today.
The robust contract pipeline suggests increased closing activity in the coming 30-45 days as current attorney review periods reach completion.
📈 MARKET ANALYSIS
Price Per Square Foot Range: $919 - $1,165
- Two-bedroom units: ~$931/sq ft
- Three-bedroom units: ~$919/sq ft
- Four-bedroom luxury units: ~$1,165/sq ft
Absorption Rate Analysis:
- Properties under $1.5M: 0-5 days on market
- Luxury properties ($2M+): 60+ days on market
Market Velocity: Today's snapshot reveals three properties at different transaction stages, indicating healthy deal flow despite constrained inventory. The concentration of contract activity in early July suggests strong summer market momentum.
Geographic Insights:
- Hudson Street: Immediate market response
- Willow Avenue: Consistent buyer interest
- Monroe Street: Premium pricing command
🎯 KEY TAKEAWAYS
For Buyers:
- Immediate decision-making essential for properties under $1.5M
- Luxury segment ($2M+) allows for more deliberate evaluation
- Competition remains fierce in the two and three-bedroom segments
For Sellers:
- Accurate pricing drives rapid absorption
- Market rewards quality across all price points
- Current conditions strongly favor sellers with realistic expectations
Market Outlook: The simultaneous activity across multiple price segments indicates broad-based market strength. The price-per-square-foot consistency suggests buyers are making informed, value-driven decisions while maintaining active participation across segments.
📅 TOMORROW'S FOCUS
We'll monitor for new listing activity and additional contract executions. The current three-property pipeline positions the market for sustained transaction volume through the summer months.
This daily update is based on MLS data and market activity as of July 7, 2025. Market conditions and property status can change rapidly. For the most current information on specific properties or market conditions, please consult with a qualified real estate professional.
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