We've seen a stabilization in the absorption rates for both Hoboken and downtown Jersey City, which is very welcome after the wild ride that we had last week.
The rate for downtown Jersey City is still slow, which is evidenced by the lack of weekly sales in that area.
Hoboken Absorption Rate Update October 15, 2010:
42.53 weeks vs. 46.60 weeks last week (8.3% decrease)
Downtown Jersey City Absorption Rate Update October 15, 2010:
61.02 weeks vs. 62.93 weeks last week (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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