Wells Maine - April 2020 Real Estate Update
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Rick Coyne
Rick Coyne
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April 2020 Real Estate Update!
Curious how the real estate market in Wells looked during our stay-at-home orders? We pulled the numbers for April 2020 and year-to-date data for residential sales only. Take a look.
New listings in April 2020: 24
April 2019: 51. Decrease of 52.9%
YTD 2020: 183 vs
YTD 2019: 189 . Decrease of 3.2%.
Current listings: 166 vs
2019 listings at this time: 175. Decrease of 5.1%
Average list price in April 2020: $493,614 - increase of 10.10%
YTD: $457,283 -increase of 8.5%
Average days on market for April 202: 41
Average days on market for April 2019: 59 - Decrease of 30.51%
YTD 2020: 63
YTD 2019: 72 Decrease of 12.5%
Number of residential sales for April 2020: 28
Number of residential sales for April 28, 2019: Decrease of 15.2%
Avg. sale price 2020: $356,806
Avg. sale price 2019: $352,976- Increase of 1.08%
Months of inventory 2020: 4.75
Months of inventory 2019: 5.21 decrease of 8.83%
YTD 2020: 4.49
YTD 2019: 5.24 decrease of 14%
So what does this all mean? With low interest rates, buyers are still active! According to feedback from area agents, the last two weeks have shown an uptick in activity. It seems that sellers were understandably hesitant to list their homes for sale. At the time of this writing however new homes have been popping up on the MLS daily as stay-at-home restrictions ease. It remains a strong seller's market with low inventory and low interest rates.
To read how EXIT Oceanside Realty is keeping home sellers and buyers safe during the COVID-19 pandemic click here.
Rick & Pam Coyne Broker/Owners
At EXIT Oceanside Realty we believe that real estate is more than just a financial transaction. It's welcoming you to the warmth that is home and helping you navigate the transitions on life’s journey.
We look forward to assisting you with the sale or purchase of Real Estate in Wells, Maine, Ogunquit, Maine and Kenenbunk, Maine.
EXIT Oceanside Realty
1217 Post Road
Wells, ME 4090Phone: 207-646-8333
Rick@ExitOceansideRealty.com
