Reminding those in the market to buy and/or sell homes in Fair Haven that when informed buyers and sellers agree on a price, a sale takes place, regardless, real estate blogger Len Dunikoski says that, according to his analysis of four objective indicators, higher real estate prices are predicted for the future in the borough.
The bottom line, Dunikoski says, is that in the Fair Haven market, three of the four usual market indicators — number of sales (or demand), listings (supply), price and absorption rate — are predictors of higher prices in the near future. Price is the only indicator that remains neutral in Dunikoski's analysis.
Dunikoski takes readers through each indicator, honing in on statistics and offering an explanation in each and then drawing his conclusion.
For instance, he says that in the category of sales numbers, "at the end of the third quarter, Fair Haven home sales increased by 13 percent compared to last year.
The number of sales is an indicator of demand: more sales tend to drive prices higher, whereas fewer sales typically predict lower future sales prices."
Next, he explains, as far as listings are concerned, Fair Haven has had a low inventory (or supply) for every month in the year, so far.
"As of the end of September, there were 21 percent fewer listings than a year ago," he says. "Fewer listings normally result in increased prices, while more listings tend to push prices down as would-be buyers have more houses to choose from."
While Dunikoski says the real estate market tends to be characteristically slow from November to February, he also reminds readers that serious buyers and sellers tend to be more motivated during this time of the year, so don’t assume it's a bad time to either buy or sell.