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Buyer Demand Outpacing Supply of Homes

by Fontaine Family

Buyer Demand Still Outpacing the Supply of Homes for Sale

The price of any item is determined by the supply of that item, as well as market demand. The National Association of REALTORS (NAR) surveys “over 50,000 real estate practitioners about their expectations for home sales, prices and market conditions” for their monthly REALTORS Confidence Index.

Their latest edition sheds some light on the relationship between Seller Traffic (supply) and Buyer Traffic (demand).

Buyer Demand

The map below was created after asking the question: “How would you rate buyer traffic in your area?”

Buyer Demand Still Outpacing the Supply of Homes for Sale | Simplifying The Market

The darker the blue, the stronger the demand for homes in that area. Only four states had a ‘stable’ demand level.

Seller Supply

The index also asked: “How would you rate seller traffic in your area?”

As you can see from the map below, 25 states reported ‘weak’ seller traffic, 21 states reported ‘stable’ seller traffic, 3 states and Washington D.C. reported ‘strong’ seller traffic, and only 1 state reported ‘very strong’ seller traffic. This means there are far fewer homes on the market than what is needed to satisfy the buyers who are out looking for their dream homes.

Buyer Demand Still Outpacing the Supply of Homes for Sale | Simplifying The Market

Bottom Line

Looking at the maps above, it is not hard to see why prices are appreciating in many areas of the country. Until the supply of homes for sale starts to meet buyer demand, prices will continue to increase. If you are debating listing your home for sale, let’s get together to help you capitalize on the demand in the market now!

Should I Sell My Maine Home This Winter?

by Fontaine Family

Should I Sell my Maine Home this Winter...
or should I wait until spring? 

This might be the most common question we hear this time of year.  Winter may not be the most convenient time to move, but there are advantages to selling in the winter.


1.  Less Competition 
In the spring, For Sale signs pop up like daffodils!  In the winter, there are less homes for sale, so there is less competition on the market increasing the chances that buyers will look at your home. If there are less homes for a potential buyer to choose from, the probability that your home will have showings...and offers...increases! 

2.  Serious Buyers Are Shopping 
Many sellers believe that there are not buyers looking in the winter.  The truth is, there are always buyers looking to buy.  Serious buyers usually don't stop their home search just because winter rolls around.  Serious buyers want to buy no matter what time of year it is! 

3.  Quicker Timeframes 
In the winter months, professionals typically involved in a real estate transaction such as appraisers, lenders, and inspectors, are often more available so your transaction may be able to happen more quickly. 

4.  Seasonal Staging 
Maine can be absolutely beautiful in the wintertime and decorating for the holidays can be easily turned into seasonal staging.  That festive, homey touch may be exactly what a buyer needs to see themselves living in your home...and that leads to offers! 

If you would like to discuss whether selling your home this winter is right for you...just fill out the form below, and one of our talented agents will contact you shortly!

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

Maine Homes Wanted!

by Fontaine Family

Looking for Maine Homes to Sell!

We have buyers looking for homes to buy and the market is experiencing a shortage of inventory. 

If you have considered selling, and your home fits any of the descriptions below, give us a call today!
We might have a buyer waiting and ready to buy your home! 


We have buyers looking for...

Buxton, Standish or Scarborough

  • Home offering owner financing - up to $150,000

Cape Elizabeth or Scarborough

  • Luxury Home close to the water with a chef's kitchen - up to $1,000,000

Lewiston/Auburn

  • Any Style home with 2 bedrooms - up to $100,000
  • Victorian style home - up to $200,000
  • Home with at least 2 acres of land - up to $140,000
  • Home with and in-law unit or nice 2 Unit - up to $200,000
  • Lewiston home - between $175,000 and $250,000
  • Home with lots of Acreage including Lewiston/Auburn and surrounding areas - up to $450,000

Gardiner, Randolph, or Chelsea

  • 2 Bedroom home - up to $100,000

Gorham, Windham, or Scarborough

  • Cape with 2-3 bedrooms - up to $275,000

Greene, Turner, Leeds, Sabattus, or Wales

  • Ranch or Cape with 3 bedrooms - up to $275,000

Gardiner or Litchfield

  • Land - up to $35,000

Gorham or Windham

  • Cape with 3 bedrooms, 2 baths and a 1st floor bedroom - up to $300,000

Lisbon

  • Home with 2 bedrooms - up to $125,000
  • Colonial or Cape with 3 bedrooms, 2 bathrooms, & 2 car garage - up to $250,000

Old Orchard Beach or Brunswick

  • Multi-Unit property - up to $400,000

Portland or South Portland

  • Home in a walkable neighborhood with 2 bedrooms - up to $250,000
  • Condo with 2 bedrooms - up to $300,000
  • Multi-Units with 2-3 units - up to $450,000
  • Land - up to $130,000

South Portland

  • Condo or Single Family - up to $150,000

Scarborough, South Portland, Falmouth, or Cumberland

  • Newer home with 4 bedrooms, 3 baths, and a 1st floor master - up to $500,000

Standish, Raymond, or Windham

  • Waterfront on a small pond - up to $275,000

Yarmouth or Cumberland

  • Home in a neighborhood setting with 3 bedrooms & 2 baths - up to $500,000

 

or call us at 207-784-3800 in Auburn
or 207-289-3830 in Scarborough

Maine Home Prices Are Rising!

by Fontaine Family

Maine Home Prices Are Up From Last Year!

According to the Maine Association of Realtors, Maine home prices are up 5.33% for the quarter from June 1st - August 31 over the same timeframe in 2015.  The median sale price for the quarter this year was $197,500 up from $187,500 in 2015. Not only are prices up, but the number of properties sold us also up by 6%.  5510 units had sold in Maine by the end of August this year. 

The numbers vary from area to area.  Here are the median sale prices for some of the counties we serve...

Androscoggin County
   $150.000 up 6.38% from 2015      

Cumberland County
$280,000 up 9.8% from 2015    

Kennebec County
$152,000 up 1.4% from 2015    

Oxford County
$151,000 up 4.86% from 2015    

Sagadahoc County
$210,000 up 9.35% from 2015    

York County
$245,000 up 6.52% from 2015

Do you want to know what home prices are doing in your area or Maine? 

Give us a call at (207)784-3800 or (207)289-3830 and we would be happy to help you out!

Cumberland County Real Estate Market

by Fontaine Family

Cumberland 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 Cumberland County in 2015 vs. 2014. Click here to see statistics for Androscoggin County.


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!

 

Displaying blog entries 1-7 of 7

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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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