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
Email: info@hobokenjerseycity.com
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