🏙️ HOBOKEN DAILY MARKET UPDATE - July 6, 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 focus centers on contract progression in the mid-tier condominium segment, with one property advancing through the sales pipeline toward a scheduled closing.
🆕 NEW LISTINGS (ACTIVE)
Fresh inventory hitting the market
No new listings entered the active market today.
The ongoing absence of new inventory continues to define Hoboken's current market dynamics. This sustained scarcity supports strong pricing power and competitive conditions for available properties.
🤝 ACCEPTED OFFERS (ATTORNEY REVIEW IN PROGRESS)
Properties that went under contract today
No new accepted offers recorded today.
Contract activity remained quiet today, following patterns we've observed where buyers take time to evaluate limited inventory options in the current tight market environment.
📋 UNDER CONTRACT
Properties in the contract-to-closing pipeline
One property progressing toward scheduled closing:
700 1st Street, Unit 16PR - $805,000
- 2 bedrooms, 1,137 sq ft ($708.00/sq ft)
- 18 days on market - Efficient absorption in the mid-tier segment
- Contract executed: June 24, 2025
- Scheduled closing: July 31, 2025
- At asking price: $805,000 (no price reduction)
- Monthly maintenance: $620
- Annual property taxes: $10,025
This 1st Street transaction demonstrates strong buyer interest in well-priced two-bedroom units under $850K, with the property achieving full asking price after reasonable market exposure.
💰 CLOSED SALES
Completed transactions
No closings recorded today.
The contract pipeline indicates upcoming closing activity, with the 1st Street property scheduled to close later this month, contributing to July's transaction volume.
📈 MARKET ANALYSIS
Pricing Performance: $708/sq ft
- Competitive pricing in the two-bedroom mid-tier segment
- Full asking price achievement indicates strong value positioning
Market Timing Analysis:
- 18 days on market reflects healthy buyer interest
- Contract-to-closing timeline: 37 days (June 24 to July 31)
- Demonstrates normal processing periods in current market
Value Proposition Assessment:
- Total monthly carrying costs: ~$1,456 (maintenance + estimated taxes)
- No price negotiation required - achieved full asking price
- 1st Street location commanding solid pricing metrics
Market Segment Performance: The $708/sq ft pricing represents attractive value in Hoboken's two-bedroom segment, particularly when compared to higher-priced areas like Hudson Street and Monroe Street.
🎯 KEY TAKEAWAYS
For Buyers:
- Mid-tier properties ($750K-$850K) continue to attract quick buyer response
- Well-priced two-bedroom units achieving full asking price
- Contract processing maintaining normal timelines
For Sellers:
- Accurate pricing strategy yields full-price offers
- 18-day absorption demonstrates healthy market pace
- 1st Street corridor showing consistent buyer appeal
Market Outlook: Today's under-contract property reinforces the stability of Hoboken's mid-tier condominium market. The full asking price achievement with reasonable market time indicates balanced supply-demand dynamics in this price segment.
📅 TOMORROW'S FOCUS
We'll monitor for new listing activity and additional contract executions. The pending July 31st closing will contribute to month-end transaction volume and provide additional market intelligence.
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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