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