As I stated last week:
We're still seeing the aftershocks of the holiday season in the weekly absorption rate figures. A big component of this rate is the number of recent sales in area for the last 30 days, which was seasonally slow.
It will take a few more weeks to see where the absorption rate is headed.
If it continues to increase it will show that the market isn't firming up as expected.
Hoboken Absorption Rate Update 1/29/2010:
52.02 weeks vs. 47.88 weeks last week (8.65% increase)
Downtown Jersey City Absorption Rate Update 1/29/2010:
53.06 weeks vs. 58.10 weeks last week (10.5% decrease)
Kevin Dowd
Realtor
Prudential Castle Point Realty
203 Washington Street
Hoboken, NJ
Cell: 201-606-5957
Email: info@hobokenjerseycity.com
Search MLS listings for free at: www.hobokenjerseycity.com
Get up-to-the-minute market reports:
www.hobokenpropertyvalue.com
www.jerseycitypropertyvalues.com
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