The lack of current sales is definitely starting to be felt in the absorption rates for Hoboken and downtown Jersey City. The fact that there is limited inventory in both areas isn't helping.
Hoboken Absorption Rate Update September 23, 2011:
30.17 weeks vs. 32.40 weeks last week (6.9% decrease)
Downtown Jersey City Absorption Rate Update September 23, 2011:
49.53 weeks vs. 44.19 weeks last week (12.1% 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
Follow me on Twitter: www.twitter.com/KevinDowdHBJC
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