Again this week, the available incentory for Hoboken has inched down another 4.4%, a further indication that the market remains strong. Downtown Jersey City increased 26.7% to 54.75 this week which is a large jump from last week's absorption rate of 43.13. I've noticed that the downtown absorption rate periodically jumps up and down in downtown Jersey City.
It seems like there are pockets of activity in downtown Jersey City and the price per square foot increased almost entirely across the board.
Aahhh..the ups and downs of the real estate market.
Hoboken Absorption Rate Update 7/2/2010:
22.42 weeks vs. 23.44 weeks last week (4.4% decrease)
Downtown Jersey City Absorption Rate Update 7/2/2010:
54.75 weeks vs. 43.13 weeks last week (26.7% 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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