Inventories in Hoboken decreased another 12 units to 195 this week. This includes condos/coops and 1 to 4 family properties.
The inventory for downtown Jersey City increased 3 units to 188 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 24, 2012
11.57 weeks vs. 11.5 weeks last week (.6% increase)
Downtown Jersey City Absorption Rate Update-August 24, 2012
20.36 weeks vs. 19.56 weeks last week (4.08% increase)
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