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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