Friday, May 7, 2010

Aborption Rate Drops Again For Hoboken and Downtown Jersey City - May 7, 2010

The absorption rate is going down....down...down....for Hoboken and downtown Jersey City again this week.

Decreasing inventory coupled with increasing demand = potential price increases

Hoboken Absorption Rate Update 5/7/2010:

31.64 weeks vs. 34.77 weeks last week (9.1% decrease)

Downtown Jersey City Absorption Rate Update 5/7/2010:

48.53 weeks vs. 49.79 weeks last week (2.5% decrease)

Information provided by:

Kevin Dowd
Prudential Castle Point Realty
203 Washington Street
Hoboken, NJ 07030
Cell: 201-606-5957
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