Friday, March 25, 2011

Absorption Rates Drop for Hoboken and Downtown Jersey City-More Reductions Expected-Hoboken/Downtown Jersey City Absorption Rate Update-March 25, 2011

Hoboken dropped 4.7% this week but is still up from recent lows. This should start to decrease now that pending sales have started to increase.

Downtown Jersey City should start seeing reductions in its absorption rate as well.

Hoboken Absorption Rate Update March 25, 2011:

47.07 weeks vs. 49.38 weeks last week (4.7% decrease)

Downtown Jersey City Absorption Rate Update March 25, 2011:

57.19 weeks vs. 67.32 weeks last week (14% decrease)

Information provided by:

Kevin Dowd
Broker Salesperson
Prudential Castle Point Realty
203 Washington Street
Hoboken, NJ 07030
Cell: 201-606-5957

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