Friday, February 8, 2013

Hoboken/Downtown Jersey City Absorption Rate Update-February 8, 2013






Inventories in Hoboken increased 14 to 164 units.  This includes condos/coops and 1 to 4 family properties.

The inventory for downtown Jersey City increased 9 units to 127 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.

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-February 8, 2013
14.22 weeks vs. 15.38 weeks last week (7.5% decrease)

Downtown Jersey City Absorption Rate Update-February 8, 2013
12.80 weeks vs. 12.80 weeks last week (no change)

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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