Inventories in Hoboken increased 3 units to 145 this week. This includes condos/coops and 1 to 4 family properties.
The inventory for downtown Jersey City increased 5 units to 112 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 16, 2012
17.45 weeks vs. 14.01 weeks last week (24.55% increase)
Downtown Jersey City Absorption Rate Update-November 16, 2012
15.17 weeks vs. 18.23 weeks last week (16.8% 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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