Absorption Rate Jumps 205.8% in Downtown Jersey City, Drops to 13.85 weeks in Hoboken-Absorption Rate Update-June 22, 2012

Inventories in Hoboken decreased to 17 units to 262 this week.  This includes condos/coops and 1 to 4 family properties.

The inventory for downtown Jersey City dropped 12 units to 231 units this week. This number also includes condos/coops and 1 to 4 family properties.

4-16 weeks of inventory = Seller’s market

20-24 weeks of inventory = Neutral market

24 or more weeks of inventory = Buyer’s market

Hoboken Absorption Rate Update-June 22, 2012
13.85 weeks vs. 16.12 weeks last week (14.1% decrease)
Downtown Jersey City Absorption Rate Update-June 22, 2012
44.25 weeks vs. 21.50 weeks last week (205.8% 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 Hoboken listings: http://www.viewhobokenhomes.com/
Search downtown Jersey City listings: http://www.alldowntownjerseycityhomes.com/
Follow me on Twitter: www.twitter.com/KevinDowdHBJC