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
Email: info@hobokenjerseycity.com
Search listings:
www.viewhobokenhomes.com
Search downtown Jersey City listings:
www.alldowntownjerseycityhomes.com
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