Friday, February 19, 2010

Big Increase in Hoboken Absorption Rate This Week - February 19, 2010

The streak has ended and Hoboken has posted its first increase in its absorption rate in 4 weeks. Pending sales are up this week (please see my Feb. 19 Pending Sales Update Post) so if these properties close over the next 45-60 days and pending sales continue to increase without a dramatic increase in new listings, the absorption rate will decrease again.

Hoboken Absorption Rate Update 2/19/2010:

53.39 weeks vs. 48 weeks last week (11.23% increase)

Downtown Jersey City Absorption Rate Update 2/19/2010:

72.5 weeks vs. 61.76 weeks last week (17.39% increase)

Information provided by:

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