Inventories are very low again this week with Hoboken at 373 units and downtown Jersey City at 351 units. The Hoboken absorption rate for Hoboken has decreased again to 33.33 weeks. The rates for Hoboken are being kept in check by the lower than usual inventory. Downtown Jersey City is still relatively high this week at 72.37 weeks as buyers continue to look toward to the stability of Hoboken.
Hoboken Absorption Rate Update February 4, 2011:
33.33 weeks vs. 38.7 weeks last week (13.9% decrease)
Downtown Jersey City Absorption Rate Update February 4, 2011:
72.37 weeks vs. 63.78 weeks last week (13.5% 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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