Lowest Inventory Levels in 3 At Least 3 Year-Hoboken/Downtown Jersey City Pending Sales Update-August 31, 2012

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:

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