Another week of absorption rate increases for Hoboken and downtown Jersey City. The market does typically slow down during August as buyers go on vacation. I didn't think the slowdown would be as strong as it is, especially with mortgage rates being so incredibly low!
Hoboken Absorption Rate Update 8/6/2010:
46.26 weeks vs. 41.87 weeks last week (10.48% increase)
Downtown Jersey City Absorption Rate Update 8/6/2010:
54.6 weeks vs. 50.46 weeks last week (8.2% 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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