Inventories in Hoboken decreased 6 units to 216 this week. This includes condos/coops and 1 to 4 family properties.
The inventory for downtown Jersey City decreased 19 units to 196 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-August 3, 2012
12 weeks vs. 14.36 weeks last week (16.4% decrease)
Downtown Jersey City Absorption Rate Update-August 3, 2012
20.22 weeks vs. 22.72 weeks last week (11% 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/
Follow me on Twitter: www.twitter.com/KevinDowdHBJC