Friday, July 1, 2011

Absorption Rate Drops 23.9% for Downtown Jersey City This Week!-Hoboken/Downtown Jersey City Absorption Rate Update-July 1, 2011

Hoboken was essentially flat this week again and still doing well at 22.33 weeks. Inventory is LOW right now at 407 units. It should be over 600 units right now.

Downtown Jersey City decreased by an impressive 23.9% this week. Inventory is also LOW at 316 units. It should be in the 450 range at this time of the year.

Hoboken Absorption Rate Update July 1, 2011:

22.33 weeks vs. 22.85 weeks last week (.028% decrease)

Downtown Jersey City Absorption Rate Update July 1, 2011:

30.44 weeks vs. 39.98 weeks last week (23.9% 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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