It just may be the right time to invest in Red Bank real estate, after a long period of market depression, blogger Len Dunikoski says.
Signs of recovery are what Dunikoski says are peering through. "At the end of June, the median price of a single-family Red Bank home was down 6 percent compared to a year ago, Dunikoski says in his latest analysis blog. "By the end of July, it was down only 2 percent, and at the end of August it was down only 1 percent."
Offering statistics and analysis based on sales, listings, median sales prices and absorption rates, Dunikoski says that real estate indicators are mixed. An increased number of sales and decreased real estate absorption rates are good news for, sellers, he says, because they are predictors of higher future price tags.
But, Dunikoski says, an increased number of listings tends to keep prices down, and the median home price is still lower than it was a year ago.
So, if you're thinking of selling, you may want to wait until spring, he says. If you’re thinking of buying, now just may be the right time, he adds, saying that "we’re no longer in a buyer’s market, but the median price is still lower than it was a year ago."