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 30, 2010
July 2010 State Update-The Good The Bad and The Ugly--July 30, 2010
The absorption rate is up by 13.5% in Hoboken this month as the market starts to cool. Pending sales are down 21%. Price per square foot prices for 1,2 and 3 BR condos are all down this month as well for Hoboken.
Interestingly, the absorption rate for downtown Jersey City is down 3.1% this month. This is the second monthly decrease for downtown Jersey City. Price per square foot figures were relatively stable for Newport 2BR and downtown Jersey City 1 and 2BR. Newport 1BR per square foot prices are down 13.7%.
Simply read: we're still in a strong buyer's market.
Please click on the link below if you can't see the chart:
Information provided by:
Prudential Castle Point Realty
203 Washington Street
Hoboken, NJ 07030
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