Friday, September 10, 2010

Absorption Rate Decreases 7.6% for Hoboken and Jumps 35.7% for Downtown Jersey City-Absorption Rate Update

The absorption rate for Hoboken decreased again by 7.6% this week, providing further proof that the Hoboken market remains stable as buyers focus on the old addage "buy for location."

Downtown Jersey City slid by 35.7% this week. I sure hope that this is just an anomaly and not an indicator of things to come for the area!

Hoboken Absorption Rate Update 09/10/2010:

35.58 weeks vs. 38.49 weeks last week (7.6% decrease)

Downtown Jersey City Absorption Rate Update 09/10/2010:

76.60 weeks vs. 56.43 weeks last week (35.7% increase)

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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