Inventories in Hoboken dropped 2 units to 159 this week. This includes condos/coops and 1 to 4 family properties.
The inventory for downtown Jersey City dropped 16 units to 125 this week. This number also includes condos/coops and 1 to 4 family properties.
I have never seen inventories so low.
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-October 26, 2012
10.13 weeks vs. 9.89 weeks last week (2.43% increase)
Downtown Jersey City Absorption Rate Update-October 26, 2012
12.9 weeks vs. 12.33 weeks last week (4.62% increase)
Information provided by:
Prudential Castle Point Realty
626 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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