EXIT Oceanside Realty Blog

Finding the perfect agent to help you buy or sell your home in Southern Maine may feel like a daunting task. Ask for advice, and suddenly EVERYONE offers a name of someone they know who dabbles in real estate on nights and weekends or a friend -of -a friend -of -a -cousin who once helped a neighbor sell a home for over-asking. 

"The number of sales of single-family homes in Maine is down slightly in June but prices remain on the rise. Realtors across the state sold 1,720 homes in June — 78 fewer homes than a year ago — a 4.3% decrease compared to June 2019. The Median Sales Price (MSP) for homes sold in June reached $249,000, an increase of 4.15% compared to June 2019. The MSP indicates that half of the homes were sold for more and half sold for less." according to Elisabeth Altshuler of Maine Listings. 

There’s one big question on every prospective buyer and seller’s mind right now. Where’s the market headed for the rest of the year?

There’s no denying this has been a tumultuous year for our country. But unlike the last time we saw an economic downturn, real estate is set up to help us out of it, not into it.

However, the current imbalance between buyer demand and low inventory puts the market in a peculiar place. Without more homes coming to market, real estate can’t play its role.

The Maine Association of Realtors is reporting that in December of 2019, sales of single family existing homes jumped by double digits ( 23.21 percent ) while home values increased by 7.83 percent compared to the same time in 2018. 

Here in York County sales of existing untils fell slightly by 1.05% while home values increased 5.39%. 

You can read the full report here: https://www.mainerealtors.com/wp-content/uploads/2020/01/MaineHousingReport-December-2019.pdf