Inventory has decreased for both Hoboken and downtown Jersey City which is helping to keep the absorption rates in check. It will be interesting to see how the absorption rates are affected by the holdiay slowdown that is about to occur.
Hoboken Absorption Rate Update November 5, 2010:
37.41 weeks vs. 41.17 weeks last week (8.1% decrease)
Downtown Jersey City Absorption Rate Update November 5, 2010
79.67 weeks vs. 75.91 weeks last week (4.95% 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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