Friday, December 4, 2009
Hoboken/Downtown Jersey City Absorption Rate Update 12/04/09
The Hoboken absorption rate this week increased by a modest 2.35% as the market continues to stablize in this area. In contrast, the absorption rate in downtown Jersey City increased by 15.96% this week. The downtown Jersey City market still seems to be struggling to find its equilibrium. Could it be that prices were too high there to begin with and people are looking to Hoboken for better values?
I do feel there is a strong value in some of the downtown Jersey City condos like The Portofino, Mandalay, The A and Washington Commons for those who absolutely have to have a NYC view and cannot afford the prices of some of the newer Hoboken waterfront properties like Maxwell Place and The W.
Hoboken Absorption Rate Update 12/04/09:
35.35 weeks vs. 34.54 weeks last week (2.35% increase)
Downtown Jersey City Absorption Rate Update 11/27/09:
43.44 weeks vs. 37.46 weeks last week (15.96% increase)
Prudential Castle Point Realty
203 Washington Street
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