Market Analysis: Absorption Rate

The recent global and national economic challenges have led many to question the state of our local real estate market.

Absorption rate, which measures the rate at which homes are sold over a given time period, provides insight into whether we are in a Buyer’s or Seller’s market. Absorption rate measures how quickly or slowly homes are sold and is measured by looking at the total number of current active listings and dividing it by the total number of pending sales in the last 30 days. A score between 5 and 6 is considered a neutral market, while anything less than 5 is a Seller’s market, and anything greater than 6 is a Buyer’s market.

The table below reflects Absorption Rate for 1, 2 and 3 BR condos, and 1 and 2+ family homes as of 7/31/22, per Hudson County MLS data. For every type of home in Hoboken, the market is a Seller’s market.

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Loved working with Elizabeth and Amber. Their support was constant throughout the entire home buying process. They were patient and understanding with me and ultimately helped me find the condo of my dreams! Fantastic team and great to work with!

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Elizabeth and her team were amazing to work with. We didn’t realize how much hard work is necessary to get a home ready for showing. From strategy to staging to closing they helped us as partners every step of the way. We know who we will be working with next time we are looking for a new home!

We had a great experience and highly recommend working with Amber. As first time buyers in a competitive market, she was seamless in navigating the process with us and was always available to answer our questions. Amber, Elizabeth and the entire team was fantastic!

Elizabeth, Amber and the Rakela team are the PERFECT team! They knocked our simultaneous sale and purchase in Hoboken this summer outta the park! She and team are experts on the Hoboken market. They have incredible communication style, savvy negotiation skills and long-standing rock-solid relationships with every partner you need in the process. We couldn’t have made a better choice in a partner in the home sale and buying adventure! Never thought such a stressful process could be as enjoyable as it was with them!

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Elizabeth is phenomenal real estate broker. She is honest and takes great pride in finding the right home for her client. Elizabeth is very patient and showed us properties multiple times - there was never any pressure to “do something”. Elizabeth knows Hoboken real estate and the community extremely well. We couldn’t be happier w/ our experience working w/ Elizabeth and would enthusiastically recommend her to anyone looking for property in Hoboken or Jersey City.

Another amazing experience working with Elizabeth. She is attentive, accessible, knowledgeable and a complete pleasure to work with. Would highly recommend her to anyone looking to buy, sell or rent! Elizabeth was on top of everything throughout the process of selling our condo.

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I've had the pleasure of knowing Elizabeth for years and worked with her for several months to purchase a home. She was an expert in her field, knowledgeable of the area and what the market value of homes were. She was patient and honest with her feedback on the homes we looked at. I would highly recommend her to any buyer.

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Elizabeth was recommended to me by a family friend in 2012 when my boyfriend and I were looking to buy a condo in Hoboken. She spent hours with us going over the process as first-time homebuyers, and when we were ready to sell in 2019, she helped us through an incredibly difficult sale. Elizabeth knows the Hoboken and JC market incredibly well and has a very direct, informative style.

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We worked with Elizabeth on the purchase of a home in Hoboken. She was wonderful to work with throughout the whole process. It was our first home purchase and she kept us well informed and explained every step. Elizabeth is a well-respected realtor in Hudson County and we would highly recommend her to anyone!

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