Where's The Inventory? Hoboken/Downtown Jersey City Absorption Rate Udpate-September 7, 2012

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:

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