Hoboken/Downtown Jersey City Absorption Rate Update-June 29, 2012

Inventories in Hoboken decreased 1 unit to 261 this week.  This includes condos/coops and 1 to 4 family properties.
The inventory for downtown Jersey City dropped 5 units to 226 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 29, 2012
12.29 weeks vs. 13.85 weeks last week (11.3% decrease)

Downtown Jersey City Absorption Rate Update-June 29, 2012
23.89 weeks vs. 44.25 weeks last week (46.1% decrease)

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