Thursday, February 21, 2013
Monthly Stats Update-January, 2013
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:
Prudential Castle Point Realty
626 Washington Street
Hoboken, NJ 07030
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