Friday, August 13, 2010

Absorption Rate Update-Hoboken Stable This Week, Downtown Jersey City Down-August 13, 2010

The absorption rate for Hoboken was basically flat at a .005% increase this week. We're still above our highs for Hoboken, but we're stable for now.

Jersey City fared better this week with a 9.3% decrease.

Decreasing inventories for both aress, which is not abnormal for this time of the year, are helping keep the absorption rates in check.

Hoboken Absorption Rate Update 8/13/2010:

46.51 weeks vs. 46.26 weeks last week (.005% increase)

Downtown Jersey City Absorption Rate Update 8/13/2010:

49.56 weeks vs. 54.6 weeks last week (9.3% decrease)

Information provided by:

Kevin Dowd
Broker Salesperson
Prudential Castle Point Realty
203 Washington Street
Hoboken, NJ 07030
Cell: 201-606-5957

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