Friday, September 16, 2011

Hoboken/Downtown Jersey City Absorption Rate Update-September 16, 2011

The market has slowed a bit in Hoboken this week with the absorption rate increasing to 32.40 weeks of inventory. They say that a 4 to 6 month inventory is considered a healthy market.

Downtown Jersey City actually decreased this week which is great to see. There are some really good buys in downtown Jersey City right now.

Hoboken Absorption Rate Update September 16, 2011:

32.40 weeks vs. 25.39 weeks last week (27.6% increase)

Downtown Jersey City Absorption Rate Update September 16, 2011:

44.19 weeks vs. 46.18 weeks last week (4.3% 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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