Posts Tagged: Home Buying Process

July 2023 Market Update

Though real estate inventory across the state remains low, a slight increase in home values suggest there are positive signs on the horizon. Statistics shared by Maine Listings show sold prices for homes increased 6.45 percent in June 2023 compared to June 2022, reaching a median sales price (MSP) of $385,000. The MSP indicates that… Read more »

June 2023 Market Update

Low for-sale inventory continues to hinder buying efforts across Maine. Statistics shared by Maine Listings show sold-prices for homes increased 6.57 percent in May 2023 compared to May of last year, with a median sales price (MSP) of $373,000. The MSP indicates that half of the homes were sold for more and half sold for… Read more »

May 2023 Real Estate Market Update

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 »

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 »

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 »

March 2021 Real Estate Market Update

Despite the yearlong COVID-19 pandemic, the Maine real estate market continues to thrive. According to statistics provided by Maine Listings, the month of February 2021 indicated a sales increase of 22.77 percent compared to the previous year. The median sales price (MSP) for homes reached $244,900, which shows an increase of 12.91 percent from 2020… Read more »

Our Final Real Estate Market and Sales Update for 2020

Wow, what a year in Maine’s residential real estate market, which thrived during 2020 because of the COVID-19 pandemic. Statistics released recently by the Maine Association of Realtors and Maine Listings show a sales increase of 9.82 percent for all single-family existing homes sold during 2020. Values increased by double digits with the statewide median… Read more »

November Real Estate Market Update

Maine’s real estate sales are still crazy high—up by double digits. According to statistics released today by the Maine Association of Realtors, agents across the state sold 2,341 single-family existing homes last month (!)—a jump of 26.88 percent over October 2019. The median sales price (MSP) for homes sold reached $280,000, a 24.50 percent increase… Read more »

October 2020 Real Estate Market Report

With historically low interest rates and more buyers than sellers, sales of Maine single-family existing homes increased 22.78 percent comparing September 2020 to September 2019. According to statistics released by Maine Listings, the median sales price (MSP) for homes sold in September 2020 rose 19.56 percent to $273,500, compared to September 2019. The MSP indicates… Read more »

September 2020 Real Estate Market Report

Real estate sales in Maine continue a healthy, highly positive trajectory. The value of single-family existing homes jumped 17.4 percent comparing August 2020 to August 2019, reaching a median sales price of $270,000, according to Maine Listings. The MSP indicates that half of the homes were sold for more and half sold for less. Home… Read more »

July 2020 Real Estate Market Report

The number of sales of single-family homes in Maine is down slightly in June but prices remain on the rise. Realtors across the state sold 1,720 homes in June—78 fewer homes than a year ago – a 4.3% decrease compared to June 2019. The Median Sales Price (MSP) for homes sold in June reached $249,000,… Read more »

June 2020 Real Estate Market Report

Sales of Maine’s single-family homes eased in May, due to effects from COVID-19 and limited supply; however, value and demand for available homes remained strong. According to Maine Listings, Realtors sold 21.34 percent fewer homes in May 2020, compared to May 2019. Prices continued to rise, with a median sales price increase of 3.43 percent… Read more »

Introducing Matterport 3D Virtual Tours

The COVID-19 Pandemic of 2020 has caused a significant adjustment to the way real estate is viewed, and bought and sold. The brokers at Newcastle Realty now follow important safety protocols and often meet with clients by phone and video chat. Paperwork and documents are signed electronically, and showings are conducted by video, or by… Read more »

April 2020 Real Estate Market Report

February statistics released on March 20, 2020 by Maine Listings indicated a 5.75 percent increase in sales of single-family existing homes, comparing February 2020 to February 2019. The median sales price (MSP) for the 865 homes sold reached $216,900—an uptick of 8.45 percent over that same period. The MSP indicates that half of the homes… Read more »

December 2019 Real Estate Market Report

Maine single-family existing home values increased in November, while limited inventory led to a decrease in sales. According to Maine Listings, 123 fewer homes were sold in November 2019—a 7.59 percent decline from November of 2018. The statewide median sales price (MSP) hit $225,000, up 2.74 percent compared to November 2018. The MSP indicates that… Read more »

November 2019 Real Estate Market Report

The $224,900 median sales price of a single-family existing home in Maine in October 2019 was 4.6 percent higher than October 2018, according to data released by the Maine Association of Realtors. The MSP indicates that half of the homes were sold for more and half sold for less. Realtors also reported a record-breaking 1,845… Read more »

October 2019 Real Estate Market Report

Consumer confidence bolstered sales of single-family existing homes in Maine last month. The Maine Association of Realtors released statistics today showing an 11.01 percent jump in sales during September 2019 compared to September 2018. Statewide, the median sales price (MSP) in September increased 6.4 percent to $228,750 compared to September 2018. The MSP indicates that… Read more »

September 2019 Real Estate Market Report

Statewide August real estate sales indicate that 2019 is on track to earn a spot among record years for single-family Maine home sales. Statistics released today by the Maine Association of Realtors show a 3.19 percent rise in sales compared to August 2018. Prices are also rising; the statewide median sales price (MSP) increased 4.55… Read more »

August 2019 Real Estate Market Update

Sales of single-family existing homes in Maine remain stable and positive. Maine Listings today reported a 0.16 percent rise in sales comparing July 2019 to July 2018. The median sales price for the 1,866 homes sold in July reached $230,000, an increase of 2.22 percent compared to July 2018. The MSP indicates that half of… Read more »

July 2019 Real Estate Market Report

2019 YEAR-TO-DATE MARKET AND SALES UPDATE * Sales of single-family existing homes in Maine eased 7.18 percent comparing June 2019 to June 2018, according to Maine Listings. Values, however, increased 5.09 percent over that same time period to a median sales price (MSP) of $239,085. The MSP indicates that half of the homes were sold… Read more »