The absorption rate remains low for Hoboken and downtown Jersey City again this week. I don't see this changing much until inventory starts to increase.
It's interesting to see how low the absorption rate is when compared to previous years.
There was a strong increase in sq. ft. pricing for Newport 1 BR and 2 BR condos this month. Activity has been limited in this area as pricing is still below original purchase prices for many owners.
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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