This is Why Sales are Slow at the Shore
There are a ton of condos for sale in Hoboken as shown by this cool post on the bubbletrack blog.
These condos are being sold by families trying to move to the burbs, including the Jersey Shore. Until the Hoboken condo is sold, there is no point buying a house in Middletown.
These condos are being sold by families trying to move to the burbs, including the Jersey Shore. Until the Hoboken condo is sold, there is no point buying a house in Middletown.
posted by Little_Silvered at 2:37 PM
7 Comments:
if "the sellers" lowered their prices by 30% no one would care!!!
Soooooo many properties on the market...we are entering a bear market in r/e.
Someone was linking those photos at the "kannekt" BBS (a Hoboken/JC thing). Angry Realtor® sounding posters were lashing out claiming all those sign clusters were normal and just like the previous spring.
I guess if my livelihood was being threatened I'd be tempted to lash out too, but I doubt I'd try to rewrite history.
They're building more than 100 luxury townhomes in Middletown right now, all priced between $450k and $550k. It will be interesting to see how many of those units are sold at "asking price" when you can buy a decent-sized single-family home for the same price in parts of the township.
"They're building more than 100 luxury townhomes in Middletown right now"
I've seen the ones going up on 35N near the Whole Foods, where else are they building?
That's the development I'm talking about -- Centex homes. There's another massive condo development on 36 just north of Dossil's. Centext also just finished building a huge development on 36 down near Highlands. Who would ever want to live in the equivalent of highway rest stop is beyond me.
Oh yea, I'd forgotten about those on 36 near the Highlands.
Yes, you can still find a decent SFH for 550k in Middletown, and by time those TH's on 35 are finshed, those 550k homes will be selling for 475-500k in my opinion. I thought the entire point of living in Middletown was to have space. Middletown just doesn't strike me as a townhome kind of place.
Does anyone know what the deal is with this Middletown Town Sqaure campaign? Is this project dead?
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