Providing The Latest and Most Up-to-Date Real Estate News for Hoboken and downtown Jersey City
My name is Kevin Dowd and welcome to my real estate blog. This blog is meant to educate local buyers and sellers in Hoboken, downtown Jersey City and the surrounding areas by providing up-to-date real estate sales statistics. Area-specific commentary is also provided that will provide you with a fresh perspective on the local real estate market.
Friday, January 29, 2010
Hoboken/Downtown Jersey City Absorption Rate Update - January 29, 2010
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)
Prudential Castle Point Realty
203 Washington Street
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