Maine Real Estate Sales See Boom
Rick Coyne
Sales in Maine’s real estate markets continue to set record highs this year and real estate agents are witnesses sing home sales rise a rates they've never seen.
The Maine Association of Realtors reports over 2,300 single-family homes sold in October.
That is a jump of nearly 27 percent from October of last year.
Tom Cole, president of the Maine Association of Realtors, says low interest rates and the pandemic are playing a hand in this.
"So, there are people who are taking advantage of that and at this point they’re saying, ‘Well gee I could live in my house or I could move to where I’ve always wanted to be,’” Cole said.
Unusually low housing inventory is also driving up prices and shortening the time on market for homes. Realtors currently have 40 percent less inventory than this time last year.
People with out-of-state salaries are currently beating out Mainers when buying properties, adding a competitive nature to the housing market.
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.
