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