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
Email: info@hobokenjerseycity.com
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