Maine Home Sales 2nd Quarter

As part of my services to all of my customers and clients (including fellow Weichert Colleagues) every quarter I review the markets in which we serve to give us a more in-depth look at what the trends are.  I review Single Family Home Sales - and on an as needed bases I will review other categories (i.e. Condo, Land, Multi-Family, Mfg Housing).  Both the National Association of Realtors and the Maine Association of Realtors report market activity on a larger basis (by State/County).

As a coastal Real Estate Brokerage firm we serve the Southern most areas of Maine, all of coastal New Hampshire and the Northern most coastal areas of MA.  We monitor and evaluate market trends for those communities in which we serve in order to better serve you- Our clients and Customers.  Check out the latest Sales activity for the MAINE boarder towns below.

Inventory remains light, Buyer demand still strong, and while interest rate have ticked up slightly still remain attractive.  Both the average sale price and median sale price increased over same time last year and in most cases over Q1 2015. Days on market average 99 days in these markets (some higher some lower).

These 1 page Summary Market Reports include the Following and may be viewed and printed by visiting the town below. Information Includes:

The Number of Sales for that Quarter
The Average List Price Of Homes Sold
The Average Sale Price of Homes Sold
Days On Market - From Original List Date to Date it Went Under Contract
List To Sale Ratio - Comparing what it was Listed at and what it actually Sold for.
Median List and Median Sale Price (some people prefer to look at the median so I have included it).

This chart compares the Average Sale Price to the Median Sale price
across all 7 towns  (Average is the value obtained by dividing the sum of the prices by the total number of sales - Median is the middle value of the set when they are ordered in ascending order.)

Printable 1 Page Summary by Town  

Berwick, ME   (ASP) $205,000 (MSP) $196,000
Eliot, ME (ASP) $307,000 (MSP) $291,000
Kittery, ME (ASP) $415,000  (MSP) $323,000
Ogunquit, ME (ASP) $661,000 (MSP) $601,000
South Berwick, ME (ASP) $279,000 (MSP) $263,000
Wells, ME (ASP) $334,000 (MSP) $286,000
York, ME (ASP) $455,000  (MSP) $358,000

According to the Maine Association of Realtors The median Sale Price for all of York County in Q2 was $231,500, so as you can see the boarder towns (to New Hampshire) are in higher demand.  Combine this with low inventory and Buyers should be prepared to make their best offer, since the seller or their agent are not required to notify them of the existence of other offers. If a home is in a highly desirable location, well presented and priced at the market, there are often multiple buyers competing for the property.

When you or someone you know is ready to buy or sell, it is important to enlist the services of a highly-skilled Realtor to assist you in uncovering the market dynamics of your neighborhood and thus ensuring a successful transaction.

Debbie Mae Kershaw - Realtor

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