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, December 23, 2011
Hoboken Properties Selling Faster Than Ever! Hoboken/Downtown Jersey City Absorption Rate Update-December 23, 2011
Inventories for Hoboken dropped to 227 units (condos, single and multi-family homes up to 4 units) this week. This week is now the lowest inventory I've ever seen....and yes, I keep repeating myself!
Downtown Jersey City dropped to 293 units again this week (condos, single and multi-family homes up to 4 units) which also among the lowest inventory rates I've ever seen.
Hoboken Absorption Rate Update December 23, 2011:
17.88 weeks vs. 22.80 weeks last week (21.6% decrease)
Downtown Jersey City Absorption Rate Update December 23, 2011
57.68 weeks vs. 50.18 weeks last week (14.9% increase)
Information provided by:
Prudential Castle Point Realty
203 Washington Street
Hoboken, NJ 07030
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