The strongest towns are South Orange, Madison and Maplewood with absorption rates of 5.9%, 7.3% and 7.5% respectively.  The weakest towns are Union, Chatham and Westfield at 16.6%, 15.4% and 14.1% respectively.

We are still feeling the effects of the last quarter 2008 slowdown in activity as it usually takes a minimum of 30 to 45 days from Contract to Closing.  There are alot of shoppers in the market and I believe we will see some significant drops in these numbers by the end of the 1st quarter ot 2009.

For all of the details and numbers click here.