Due to low inventory and higher interest rates, homebuying efforts across Maine continue to struggle. Statistics shared by Maine Listings show a decrease of 30.53 percent for home sales in April 2023 compared to April 2022. Prices, however, increased 6.21 percent to a median sales price (MSP) of $367,500. The MSP indicates that half of… Read more »
Posts Tagged: Damariscotta
NEWCASTLE REALTY BOOTHBAY HARBOR LOCATION CELEBRATES THIRD YEAR
Together with his staff of 18 REALTORs, Newcastle Realty owner Dennis Hilton is excited to be celebrating the start of their third year in their Boothbay Harbor office located at 14 Todd Avenue. Newcastle Realty has operated from Newcastle and Damariscotta for over 30 years, and this branch location shows the commitment Newcastle Realty has… Read more »
April 2023 Real Estate Market Update
Interest rates and lower-than-normal inventory led to a single-family existing home sales decline of 16.78 percent in March. According to Maine Listings, 858 homes changed hands last month, compared to 1,031 homes in March 2022. The median sales price for homes sold rose 3.85 percent to $337,500 comparing March 2023 to March 2022. The MSP… Read more »
March 2023 Real Estate Market Update
Availability of properties for sale continues to be an issue for buyers of single-family existing homes across Maine. According to Maine Listings, Realtors sold 708 homes last month—a dip of 19.4 percent from February 2022. Prices increased 10.7 percent in the past year, with data indicating a median sales price (MSP) of $329,250. The MSP… Read more »
February 2023 Lincoln County Maine Real Estate Update
Sales of single-family existing homes in Maine continue to be affected by rising mortgage interest rates and a smaller number of available homes for sale. Maine Listings announced a 34.99 percent sales decrease in January 2023, compared to January 2022. The median sales price (MSP) for homes sold in January 2023 reached $325,000, an increase… Read more »
December 2022 Market Update
Buyers of single-family existing homes across Maine are still encountering a lower-than-normal inventory of homes available for purchase. According to Maine Listings, 1,289 homes changed hands in November, a decline of 28.7 percent from November one year ago. The median sales price (MSP) for homes sold reached $325,000—up 8.3 percent from November 2021. The MSP… Read more »
November 2022 Market Update
2022 YEAR-TO-DATE MARKET AND SALES UPDATE * According to the Maine Association of Realtors, buyer demand remains healthy in Maine, while rising interest rates and tight inventory continue to affect the real estate market. Maine Listings reported a 7.79 percent rise in the cost for a single-family existing home, which reached a median sales price… Read more »
October 2022 Market Update
According to the Maine Association of Realtors, home prices seem to be stabilizing with sales of single-family homes remaining strong. The month of September saw sales of 1,890 single-family homes with a median sales price (MSP) of $330,000. The MSP indicates that half of the homes were sold for more and half sold for less…. Read more »
August 2022 Market Update
Though for-sale inventory remains low, home buyer interest persists across Maine. According to Maine Listings, 1,691 homes were sold statewide for the month of July, a decrease of 15.28 percent compared to July 2021. The median sales price (MSP) reached $354,000, an increase of 12.38 percent since this time last year. The MSP indicates that… Read more »
July 2022 Market Update
According to Maine Listings, sales of single-family homes in Maine saw a decline of 9.83 percent, presumably in response to rising interest rates. Compared to June 2021, the statewide median sales price (MSP) jumped 16.4 percent in June 2022 reaching $360,825. The MSP indicates that half of the homes were sold for more and half… Read more »
