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:

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

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