I hope everyone is having a wonderful holiday season.
Wishing you all a Happy New Year!
Now, back to the numbers...
The absorption rate actually decreased for Hoboken by 24.85% and increased just 3.24% for downtown Jersey City. The absorption rate usually decreases about this time of the year as buyers looking to close by the end of the year snap up whatever good available inventory is left.
Pending sales increased slightly for Hoboken and downtown Jersey City for November.
Total sales increased by 11.86% for Hoboken and decreased 17.65% for downtown Jersey City.
We did see price decreases in all market segments except for:
Hoboken 4BR-up 11.63%
Newport 1BR-up 2.40%
Downtown JC 2BR-up 4.81%
Downtown JC 3BR-up 26.56%
Kevin G. Dowd
The Turoff Team
100 Washington Street
Hoboken, New Jersey 07030
Mobile: 201-606-5957 | Office: 201-659-8600 x408