Providing The Latest and Most Up-to-Date Real Estate News for Hoboken and downtown Jersey City
My name is Kevin Dowd and welcome to my real estate blog. This blog is meant to educate local buyers and sellers in Hoboken, downtown Jersey City and the surrounding areas by providing up-to-date real estate sales statistics. Area-specific commentary is also provided that will provide you with a fresh perspective on the local real estate market.
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:
Prudential Castle Point Realty
203 Washington Street
Hoboken, NJ 07030
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