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, April 1, 2011
Hoboken and Downtown Jersey City Show Large Drops in Absorption Rates-Hoboken/Downtown Jersey City Abosroption Rate Update-April 1, 2011
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:
Prudential Castle Point Realty
203 Washington Street
Hoboken, NJ 07030
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