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.
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:
Prudential Castle Point Realty
203 Washington Street
Hoboken, NJ 07030
Search downtown Jersey City listings:http://www.alldowntownjerseycityhomes.com/
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