Buyer's Market, Seller's Market,
or Balanced Market? 

You hear a lot of talk in the Real Estate community about what type of market we are in currently. The truth is, there is no easy answer.  Real Estate market vary greatly.  In Maine the market in Lewiston/Auburn is drastically different than in Portland...just 40 miles away.

In a Buyer's Market...
there is a large supply of real estate on the market...more inventory than buyers.  In this case, prices tend to be lower, and property tends to sell more slowly.

In a Seller's Market...
there is a large supply of buyers looking to buy...and less inventory for those buyers to choose from.  In this situation, prices tend to rise, tend to sell more quickly, and properties start to get multiple offers.

A Balanced Market...
is when there is roughly a 6 month supply of inventory on the market.  This is a more balanced scenario...not strongly favoring the buyer or the seller.

Maine's Real Estate Market is changing...just like the rest of the country, but it does still vary from area to area. 

In Androscoggin County...  
at the beginning of 2015, there was just over 8 months of residential inventory on the market.  It was a buyer's market.  At the beginning of 2016, there was just over 6.5 months of residential inventory on the market.  A more balanced market.  We are even starting to see some multiple offers...looks like we could be headed for a seller's market. 

In Cumberland County...
at the beginning of 2016, we are already firmly in a seller's market.  There was only just under 3.5 months of residential inventory on the market.  The market has been changing quickly, however.  At the beginning of 2012 there were about 8 months of residential inventory on the market. 

In our area, in the residential real estate market at least, there seems to be a definite shift from a buyer's market to a seller's market. 

Are you ready to buy before prices rise
or ready to get your house on the market
in preparation for the seller's market? 

Give us a call today to get started! 

Auburn: (207)784-3800 
Scarborough:  (207)289-3830