As predicted last week, the Hoboken absorption rate dropped 13.5% and downtown Jersey City dropped another 17.8% this week. The decreases follow the recent uptick in pending sales and continue to provide support that the market is starting to strengthen.
Hoboken Absorption Rate Update April 1, 2011:
36.01 weeks vs. 47.07 weeks last week (13.5% decrease)
Downtown Jersey City Absorption Rate Update April 1, 2011:
46.99 weeks vs. 57.19 weeks last week (17.8% decrease)
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
Search listings:
www.viewhobokenhomes.com
Search downtown Jersey City listings:
www.alldowntownjerseycityhomes.com
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