Inventories in Hoboken dropped 7 units to 152 this week. This includes condos/coops and 1 to 4 family properties.
The inventory for downtown Jersey City dropped 3 units to 122 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 2, 2012
14.01 weeks vs. 10.13 weeks last week (38.3% increase)
Downtown Jersey City Absorption Rate Update-November 2, 2012
18.23 weeks vs. 12.9 weeks last week (41.32% 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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