Providing The Latest and Most Up-to-Date Real Estate News for Hoboken and downtown Jersey City
My name is Kevin Dowd and welcome to my real estate blog. This blog is meant to educate local buyers and sellers in Hoboken, downtown Jersey City and the surrounding areas by providing up-to-date real estate sales statistics. Area-specific commentary is also provided that will provide you with a fresh perspective on the local real estate market.
Friday, January 7, 2011
First Report of 2011!-Hoboken/Downtow Jersey City Absorption Rate Update-January 7, 2011
Activity has been down, but so have active listings which is keeping the aborption rate in check.
The absorption rate measures the time it takes to sell of the current inventory of properties in a specific market. An active market has a rate between 24-32 weeks.
Hoboken Absorption Rate Update January 7, 2011:
34.56 weeks vs. 29.28 weeks last week (15.3% increase)
Downtown Jersey City Absorption Rate Update January 7, 2011:
57.02 weeks vs. 42.51 weeks last week (25.4% increase)
Information provided by:
Prudential Castle Point Realty
203 Washington Street
Hoboken, NJ 07030
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