Hoboken Condo vs. Downtown Jersey City Condo Absorption Rate
Categories: For Sellers, Hoboken Condos, Market Analysis
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
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:
if and when you have time could you break out those numbers to 1 BR, 2BR, 3BR???