Friday, May 18, 2012

JC, Downtown Weekly Stats, Ending May 16, 2012




















15 Properties Came on the Market This Week  vs 20 Last week

225 ST PAULS AVE , JERSEY CITY, NJ
18 BRIGHT ST, JERSEY CITY, NJ
20 2ND ST, JERSEY CITY, NJ
264 9TH ST, JERSEY CITY, NJ
45 RIVER DR SOUTH, JERSEY CITY, NJ
689 LUIS M MARIN BLVD, JERSEY CITY, NJ
96 COLES ST, JERSEY CITY, NJ
700 GROVE ST, JERSEY CITY, NJ
700 GROVE ST, JERSEY CITY, NJ
510 1/2 MONMOUTH ST, JERSEY CITY, NJ
159 2ND ST, JERSEY CITY, NJ
2 2ND ST, JERSEY CITY, NJ
234 10TH ST, JERSEY CITY, NJ
2 2ND ST, JERSEY CITY, NJ
268 4TH ST, JERSEY CITY, NJ

There are 265 Active Listings on the Market in Downtown Jersey City.
165 units are under contract as of today.





The Absorption rate this week is 22.08 weeks. See the attached picture of the absorption rate over time.  The absorption rate is a number that describes how many weeks it will take to see off the current inventory at the current rate of sales.  We had 12 closings this week and we have 265 active listings.  So at the current rate of 12 closings per week, it would take 22.08 weeks (265/12) to sell off the current inventory.  See the chart attached as a photo to see how absorption rate has fluctuated over time.The absorption rate is often thought of as the factor that indicates if we are in a sellers' or buyers' market.

Generally if there is more than 4 months of inventory it's a buyers' market.  Less than 4 months it's a sellers' market.  Prices are down but so is the inventory.  

Another key factor is listing date to contract.  See the quarterly review and consult an agent.  Outlyers can skew these numbers.

 

JC Stats Public PDF
Information Provided by:

Donna Antonucci
Prudential Castle Point Realty
201-240-6832

donna@donnaantonucci.com

www.search.hobokenrealestatemonitor.com/map/