Inventories in Hoboken increased 3 to 167 units. This includes condos/coops and 1 to 4 family properties.
The inventory for downtown Jersey City increased 5 units to 132 this week. This number also includes condos/coops and 1 to 4 family properties. The drop from last week seems strange, but I can't figure out what happened.
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-February 15, 2013
17.65 weeks vs. 14.22 weeks last week (24.12% increase)
Downtown Jersey City Absorption Rate Update-February 15, 2013
16.82 weeks vs. 12.80 weeks last week (31.4% 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/
Follow me on Twitter: www.twitter.com/KevinDowdHBJC