Inventories in Hoboken decreased another 11 units to 184 this week. This includes condos/coops and 1 to 4 family properties.
The inventory for downtown Jersey City increased 3 units to 191 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 31, 2012
8.05 weeks vs. 11.57 weeks last week (30.5% decrease)
Downtown Jersey City Absorption Rate Update-August 31, 2012
15.61 weeks vs. 20.36 weeks last week (24.4% 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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