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