This is the third week of absorption rate increases for Hoboken. It was a larger than anticpated increase of 18.3%, but this could just be a normal market fluctuation.
Downtown Jersey City saw an increase of 8.8% to a still shaky 43.84 weeks.
Decreasing inventories in both Hoboken and downtown Jersey City should help keep this rates in check over the next few weeks.
Hoboken Absorption Rate Update 7/23/2010:
30.69 weeks vs. 25.08 weeks last week (18.3% increase)
Downtown Jersey City Absorption Rate Update 7/23/2010:
43.84 weeks vs. 40.01 weeks last week (8.8% increase)
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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