Inventories in Hoboken dropped one unit to 183 this week. This includes condos/coops and 1 to 4 family properties.
The inventory for downtown Jersey City dropped 4 units to 187 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-September 7, 2012
8.71 weeks vs. 8.05 weeks last week (.81% increase)
Downtown Jersey City Absorption Rate Update-September 7, 2012
17.24 weeks vs. 15.61 weeks last week (10.44% 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