Hoboken continues to buck the trend with its shrinking inventory again this week. Downtown Jersey City is holding its own with a modest 3.4% increase.
Just as a reference point, the absorption rate was approx 37 weeks in October '09, which clearly indicates that activity has increased.
Hoboken Absorption Rate Update 6/11/2010:
25.45 weeks vs. 28.01 weeks last week (9.2% decrease)
Downtown Jersey City Absorption Rate Update 6/11/2010:
51.76 weeks vs. 50.05 weeks last week (3.4% increase)
Information provided by:
Kevin Dowd
Broker/Associate
Prudential Castle Point Realty
203 Washington Street
Hoboken, NJ 07030
Cell: 201-606-5957
Email: info@hobokenjerseycity.com
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