Hoboken Real Estate Stats
A reader shares his observations regarding the latest Otteau Report. Do you agree with his thoughts?
Here’s the link to the PDF file for Hudson County: http://www.otteau.com/The_Otteau_Report/2006.Q3.HudsonCounty.pdf
The third quarter report from NJ real estate research group Otteau is out and the news isn’t horrible for sellers, but itsn’t fabulous.
The good news: Hoboken sales are up for the third quarter! Real estate stats from show that sales for the quarter are up 11% from 62.7 monthly to 69.3 monthly. )
Semi-bad news: supply is up even further, up from an average of 116.7 units monthly to 136.7 units monthly.
Really bad news: unsold inventory is way, way up from 289 units a year ago to 523 today.
Still, we’re talking going from five months of supply to eight months. Not the direction you want to see, but not horrifying. Frankly, these stats don’t look all that terrible to me. And I’m a short seller at heart.