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Maine Real Estate August Recap

by Fontaine Family

What happened in the Maine Real Estate Market in August? 


 Androscoggin County 

174 new residential listings entered the market in July with an average list price of $184,450.  In that same timeframe 148 residential listings sold with an average sale price of $164,451.  Those listings took an average of 46 days to sell.  Just for comparison, during August of 2016, 122 properties sold taking an average of 69 days to sell.  The market in Androscoggin County is moving faster than last year!   

Boy are markets different from area to area in Maine….

Cumberland County

692 new residential listings entered the market with an average list price of $368,455.  During August, 531 residential listings sold with and average sale price of $350,717.  They took an average of 45 days to sell.  The Cumberland County market is moving even faster than Androscoggin County and check out the difference in prices...Wow!

  Even within the same county there are differences…sometimes huge differences.  That’s where an experienced agent is so important.  They will help you compare the home you are selling or the home you are interested in buying to other comparable properties in comparable areas.  As a seller, this will help you price your home competitively to give you the best chance to sell quickly for best possible price.  As a buyer, it will help you make an informed decision about what a home is worth so you can have the best chance to purchase your next home without spending more than you should. 

Do you have questions about the market in your area?  Click here to e-mail us and one of our licensed agents will get back to you to answer your questions!  

All statistics are from the MREIS as of 9/5/2017

Sell Your Home Faster!

by Fontaine Family

Sell For Top Dollar Faster

What is the goal of almost every homeowner selling their home?
To get the most money possible in the shortest time possible!  Let's face it, when you decide to move, you want it over yesterday!

Did you know that Fontaine Team listings spend less average time on the market than homes sold by other companies? 
A Fontaine listing spends an average of only 64 days on the market! 

Are you ready to get your home sold FAST?

Call or e-mail us today to get started!

Auburn - (207)784-3800
Scarborough - (207)289-3830
brenda@fontaineteam.com

Rents Still Skyrocketing!

by Fontaine Family

Skyrocketing Rents!


Zillow recently revealed that the 43 million renter households in the US spent $535 billion on rent in 2015. Aggregate numbers like these often make it difficult to truly assess a situation. For more clarity, we want to share some points that were made in a Wall Street Journal article earlier this month.

The article made two important points:

1. Rents are increasing faster than the last several years:

 “Apartment rents increased faster last year than at any time since 2007.”

2. Rent increases are accelerating

“Another report from Axiometrics Inc., a Dallas-based apartment research company, showed that rents increased 4.7% in the fourth quarter compared with the same quarter a year earlier, the strongest year-end performance since 2005”.

Here is a graph to illustrate the rate of increase over the last several years:

Average Effective Rent in the US | Keeping Current Matters

Androscoggin County Real Estate Market

by Fontaine Family

Androscoggin County Real Estate Market   2015 vs 2014 Statistics

We hear all kinds of statistics on the news about the real estate market, but real estate varies greatly from region to region.  Check out our infographic comparing the real estate market in Androscoggin County in 2015 vs. 2014.  Check back next week to see the statistics for Cumberland County!

 

July Real Estate Recap

by Fontaine Family

 

What happened in the Maine Real Estate Market in July? 

 Androscoggin County 

196 new residential listings entered the market in July with an average list price of $173,939.  In that same timeframe 103 residential listings sold with an average sale price of $140,064.  Those listings took an average of 99 days to sell.  Just for comparison, the average residential sale price in July of 2013 in Androscoggin County was $134,738. 

Boy are markets different from area to area in Maine….

Cumberland County

715 new residential listings entered the market with an average list price of $369,762.  During July 480 residential listings sold with and average sale price of $317,469.  They took an average of 70 days to sell.  The average sale price of residential properties sold in July of 2013 was $288,671.

Quite a bit different from Androscoggin County, huh?
  Even within the same county there are differences…sometimes huge differences.  That’s where an experienced agent is so important.  They will help you compare the home you are selling or the home you are interested in buying to other comparable properties in comparable areas.  As a seller, this will help you price your home competitively to give you the best chance to sell quickly for best possible price.  As a buyer, it will help you make an informed decision about what a home is worth so you can have the best chance to purchase your next home without spending more than you should. 

Do you have questions about the market in your area?  Click here to e-mail us and one of our licensed agents will get back to you to answer your questions!  

 

All statistics are from the MREIS as of 8/6/2014

Displaying blog entries 1-5 of 5

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Contact Information

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Fontaine Family - The Real Estate Leader
336 Center St. Auburn, ME 04210
432 US Route 1 Scarborough ME 04074
(207)784-3800 Auburn
(207)289-3830 Scarborough
Fax: (207)786-2957

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Listing data is derived in whole or in part from the Maine IDX and is for consumers' personal, non-commercial use only. Dimensions are approximate and not guaranteed. All data should be independently verified. © 2017 Maine Real Estate Information System, Inc. All Rights Reserved.

 

 


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