Hoboken Inventories Down 236% from 2010, Downtown Down 196.9% from 2010-Hoboken/Downtown Jersey City Absorption Rate Update-July 20, 2012

Inventories in Hoboken decreased 3 units to 230 this week.  This includes condos/coops and 1 to 4 family properties.

Inventories in Hoboken are down 39.3% from this time last year and 236% from this same period in 2010.

Inventories in downtown Jersey City are down 42.67% from this time last year and 196.9% from the same period in 2010

The inventory for downtown Jersey City increased 3 units to 225  this week. This number also includes condos/coops and 1 to 4 family properties.

Overall, inventories are incredibly low right now

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 20, 2012
13.11 weeks vs. 12.47 weeks last week (5.13% increase)

Downtown Jersey City Absorption Rate Update-July 20, 2012
23.78 weeks vs. 26 weeks last week (8.5% 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