Market Update: February 2013
This winter has proven to be an extremely active time of year.
January and February are typically the slowest months of the year in our market, but this year is different. With the lack of snow, low interest rates, and higher buyer confidence, we see many buyers out there looking for that perfect home now!
Most home sellers typically wait until the spring market to put their house up for sale since that is when activity usually picks up. Right now we have a lack of inventory for buyers to look at. If you are thinking of putting your house on the market, don’t wait. Putting your house up for sale now may result in more favorable terms since there is a lack of competition meaning less choices for many buyers. Lack of supply and a high demand are driving prices up locally.
According to the Maine Real Estate Information System, home sales were up over 17% in 2012 over the previous year while prices increased by 3% state wide. We are trilled that our local market continues to stay strong and lead with price increases in many neighborhoods.22 Belmont St Brunswick SOLD $200,000 in 22 days 36 Meadowbrook Rd Brunswick SOLD $252,500 in 35 days