Inventories in Hoboken had no change this week at 145 units. This includes condos/coops and 1 to 4 family properties.
The inventory for downtown Jersey City increased 7 units to 119 this week. This number also includes condos/coops and 1 to 4 family properties.
The only reason absorption rates increased was because there were so few sales this week due to the storm.
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-November 23, 2012
20.28 weeks vs. 17.45 weeks last week (16.21% increase)
Downtown Jersey City Absorption Rate Update-November 23, 2012
14.32 weeks vs. 15.17 weeks last week (5.6% decrease)
Information provided by:
Kevin Dowd
Broker Salesperson
Prudential Castle Point Realty
626 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
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