Friday, November 27, 2009

Hoboken/Downtown Jersey City Absorption Rate Update 11/27/09

Hoboken inventory decreased by a modest 1.23% as sales activity continues to increase. Downtown Jersey City saw a strong decrease of 20.18%. Many times a decrease of this size is caused by a new building closing a numbers of properties all at the same time. However, this was not the case this week. It's simply a matter of inventory decreasing and sales continuing to rise.

Hoboken Absorption Rate Update 11/27/09:

34.54 weeks vs. 34.97 weeks last week (1.23% decrease)

Downtown Jersey City Absorption Rate Update 11/27/09:

37.46 weeks vs. 46.93 weeks last week (20.18% decrease)

Information provided by:

Kevin Dowd
Prudential Castle Point Realty
203 Washington Street
Hoboken, NJ
Cell: 201-606-5957
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