Sunday, February 5, 2012

Inventories Down 59.6% in Hoboken and 34.7% in Downtown Jersey City-Hoboken/Downtown Jersey City Sales Update-February 3, 2012

Inventories in Hoboken increased to 235 units this week.  This includes condos/coops and 1 to 4 family properties.

The inventory for downtown Jersey City stands dropped to 284 units.

At this time last year, there were 567 units for sale in Hoboken and 435 units for sale in Hoboken.

Hoboken jumped another 50% this week, but I know that the 9 week absorption rate wasn't going to last.

Downtown was down 6.1%, but the rate there is very erratic.

Hoboken Absorption Rate Update-February 3, 2012

24.84 weeks vs. 30.71 weeks last week (19.1% decrease)

Downtown Jersey City Absorption Rate Update-February 3, 2012

53.48 weeks vs. 57.48 weeks last week (7% 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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