Friday, May 13, 2011

Hoboken Drops Sharply This Week-Hoboken/Downtown Jersey City Absorption Rate Update-May 13, 2011

The absorption rate dropped by an impressive 12.8% this week for Hoboken.

Downtown Jersey City increased 12.49% this week, but the downtown area always moves up and down each week.

Low inventory + high demand = higher prices

Overall, things are continue to look good for both areas.

Hoboken Absorption Rate Update May 13, 2011:

29.73 weeks vs. 33.87 weeks last week (12.8% decrease)

Downtown Jersey City Absorption Rate Update May 13, 2011:

47.11 weeks vs. 41.88 weeks last week (12.49% increase)

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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