Abosrption Rates Remain Low for Hoboken and Downtown Jersey City This Week-Hoboken/Downtown Jersey City Absorption Rate Udpate-July 6, 2012

Inventories in Hoboken decreased 8 units to 253 this week.  This includes condos/coops and 1 to 4 family properties.
The inventory for downtown Jersey City dropped 9 units to 217 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-July 6, 2012
12.75 weeks vs. 12.29 weeks last week (1.3% increase)

Downtown Jersey City Absorption Rate Update-July 6, 2012
23.51 weeks vs. 23.89 weeks last week (1.6% 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