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:
Kevin Dowd
Broker Salesperson
Prudential Castle Point Realty
203 Washington Street
Hoboken, NJ 07030
Cell: 201-606-5957
Email: info@hobokenjerseycity.com
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