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