Monday, June 13, 2011

Absorption Rate Dips for Hoboken and Downtown Jersey City-June 10, 2011

We had a nice drop in absorption rates for Hoboken and downtown Jersey which is a direct result of the increased sales activity over the last few weeks. Super low inventories right now...and not a lot of great properties out there.

Most sellers are waiting for prices to start to rise.

Hoboken Absorption Rate Update May June 10, 2011:

21.67 weeks vs. 23.34 weeks last week (7.2% decrease)

Downtown Jersey City Absorption Rate Update June 10, 2011:

44.75 weeks vs. 49.56 weeks last week (9.7% 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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