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, July 16, 2010
Ho-Hum Abosorption Rate Update This Week-July 16, 2010
This is the second week of absorption rate increases for Hoboken, but a slight reduction in inventory for Hoboken has helped keep with aborption at an acceptable 25.08 weeks.
Downtown Jersey City saw a reduction of 8.5% to a still shaky 40.01 weeks. A 4 to 6 month supply is considered a healthy market.
Hoboken Absorption Rate Update 7/16/2010:
25.08 weeks vs. 24.75 weeks last week (1.3% increase)
Downtown Jersey City Absorption Rate Update 7/16/2010:
40.01 weeks vs. 43.74 weeks last week (8.5% decrease)
Information provided by:
Prudential Castle Point Realty
203 Washington Street
Hoboken, NJ 07030
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