2008 Aug 19th

Hoboken Condo vs. Downtown Jersey City Condo Absorption Rate

Absorption Rate For Hoboken & JC Condos

Absorption rate means how long it would take the real estate market to absorb all the properties for sale if they were to keep selling at the same rate as they have been. Hoboken Condos Soaked Up By Buyers

Hoboken Condos

Number of Hoboken condos for sale today: 460

Number of Hoboken condos sold since January 1, 2008: 527

Daily rate of condo sales: 2.34222

Monthly rate of condo sales: 71

Months it would take to sell all the Hoboken condos: 6 1/2 months

 

Downtown Jersey City Condos

Number of JC condos for sale today: 357

Number of JC condos sold since January 1, 2008: 278

Daily rate of condo sales: 1.23555

Monthly rate of condo sales: 38

Months it would take to sell all the Hoboken condos: 9 1/3 months

 

Who Cares?

If you’re thinking of selling your condo in the next 6 months, you should care! If your condo is in Hoboken, you are in pretty good shape. At the current absorption rate, almost all the condos on the market will sell in that time period so the chances are your condo will sell, too. If, however, it’s in downtown JC, about two thirds of the condos will sell and a third won’t. Your chances of selling in 6 months are not as good as in Hoboken.

Value of good marketing in Jersey City (and Hoboken): Priceless

 

See also:

 

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  1. JC

    if and when you have time could you break out those numbers to 1 BR, 2BR, 3BR???

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