How's the real estate market, is this a good time to sell my home in Maine?
What is my home worth? Is this the best time to buy a property? Study of the local real estate market in Maine, the snapshot changes like any investment right?
It's a simple math exercise with bar graph pipes and lines going up, down, sideway. The activity report to show the real estate market report numbers.
Maine has sixteen counties and they do not all behave the same just like kids. Link to county by county real estate listing activity. At the time of hunting, pecking this blog post, Maine has 16,224 active listings for sale. 3069 of them are under contract with a sale pending status. 2041 is the number of new listings in 2018 and 1872 properties have been sold this year to date. So here is what's cooking in the current market.
To look at the state of Maine to see what's for sale and where, hit this helpful search link.
My home town of Houlton Maine has 102 listings and that is not just houses but all types of property.
Raw Maine land, waterfront listings, multi unit rental housing are all in that figure to break out if needed. Not every property buyer is after the same thing. Like a menu, everyone does not select the same ole same ole.
It is interesting how many single family or condo or land listings populate one market in Maine and the supply of inventory in other markets is not the same mix amounts.
Prices for properties is a big difference too. A average house price of $70,000 could increase to $210,000 depending on the real estate property location in Maine. Maine is one big vast state. It is eight hours long. More if you are a turtle.
The speed of new Maine listings showing up in search results is critical to an investor, any real estate buyer. Who wants to see it as quickly as possible. To consider which property is the best fit for the money spent coupled with the feature list they created as what works best for their lifestyle. If the listing new to the market takes up to nine days to show up on a real estate search portal, that is not acceptable. Fifteen minutes from the time the property hits the market, it should be showing up on the website to show and tell what is for sale.
The needs for real estate change because family size increases and contracts as the youngsters leave the nest. Blended families suddenly cause a need for more living space. A divorce can make the number of bedrooms needed and a strained bank account to make the square footage requirement go the other way.
Someone wanting property acreage to go with their Maine housing looks for the farm section of the local real estate market. How big a farmstead they need depends on their budget and what's available to consider for sale in the listing inventory. Money is always always an object.
Many sellers of property figure someone with lots of cash to burn will come along eventually. Not without marketing and if the price tag is too unrealistic, all the over priced property listing does is help sell something else available that has down to Earth, real world pricing. Too high a property price, no marketing on the listing are the two biggest reasons property listings don't get to a real estate closing. Learn about the experience getting to a real estate closing.
An elderly home owner in Maine who is not so fond of stairs will be in the market for a ranch style home to replace the two or three story one that has no first floor bedroom or bath. Or because what they own is now just too big to maintain physically or financially. That causes the knee jerk desire to downsize. To make their life easier all the way around if a better housing situation is located in their real estate search of what's for sale.
Here's the latest MAR press release from the Maine Association of REALTORS.
Are you studying the market and wondering is this the best time to buy or sell a home in Maine? Life waits for no one and I find that real estate sells year round. Because people's lives don't stop and somehow the property they own needs to be bought or sold. What worked before does not anymore. Time to shuffle the property to find a better solution. Estate sales especially make the need to own go away after a loved one passes away.
So how's the real estate market in Maine?
Wondering about lake homes in Maine for sale?
My job is to make this real estate website, these blog posts reflect the information you need.