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, 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:
Prudential Castle Point Realty
203 Washington Street
Search MLS listings for free at: www.hobokenjerseycity.com
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