Local Flavors Summer Series Event August 15 at Newcastle Realty

Cheney Financial Group is hosting the second of three fun summer events Thursday, August 15, from 4:30 to 6:00. The events support and showcase local artists, local musicians, local food, local brews and wine.   Artist Susan Bartlett Rice will exhibit her paintings and live music will be performed by Chris Hight and Annette Rundall. Delicious hors d’oeuvres and tastings of local beer and wine will be provided by Lurie Sprague-Palino of Seacoast Catering and Lobsterbakes. Sample Damariscotta River oysters supplied by Pemaquid Oyster Co. Local businesses will be supplying raffle items. We invite the community to join us in supporting local businesses, art and music at Newcastle Realty, 87 Main Street, Damariscotta. 

John Traina, Newcastle Marine and Sam from Pemaquid Oyster Co. shuck 300 oysters for Local Flavors Summer Series

 

Cheney Financial Group is comprised of Cheney Insurance, Newcastle Realty and Newcastle Vacation Rentals. Our locally grown, locally owned companies have a strong commitment to supporting local businesses and bringing together community.  The last Local Flavors Summer Series events will spotlight different artists and food vendors and will be held Thursday, September 12.  For more information, contact Kristy Battles, at 207.563.1003 or, follow us on Facebook.

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 for more and half sold for less.

After a slow start to 2019, the number of single-family real estate sales bounced upward in April and May, but declined again in June. For the first six months of the year, the number of transactions is two percent below the comparable time period for 2018, and the for-sale inventory is nearly six percent below last years’ levels.

Sales of single-family existing homes nationwide dipped 1.7 percent comparing June 2019 to June 2018, and the national MSP increased 4.5 percent to $288,900 in June. According to the National Association of Realtors, sales in the Northeast declined 4.2 percent, while the regional MSP of $321,200 reflects a 4.8 percent rise in values compared to June 2018.

Newcastle Realty is having a very good first half of 2019. As of the date of this report, our brokers have closed 74 transaction sides with a total volume of $18,411,855—down slightly from our same Y-T-D sales in 2018. By comparison, the local Sotheby’s office has booked $14,457,070 from 39 sides, and Drum and Drum Real Estate has sold $13,209,710 with 50 sides. We are pleased to remain among the leading real estate firms in our area.

Most of the year-to-date 2019 property sales locally have occurred in Waldoboro (51), Boothbay (44), Wiscasset (30), Jefferson (43), Bristol (36), Boothbay Harbor (27), and Damariscotta (33). Slightly fewer sales have happened so far this year in Westport Island (13), Bremen (13), South Bristol (18), Dresden (11), Nobleboro (15), Edgecomb (10), Whitefield (12) and Newcastle (14). Towns seeing just single-digit sales are Alna (4), Southport (9), and Somerville (2).

There are currently 452 single-family homes for sale in Lincoln County (up sharply from 350 last month, but in line with the 446 residential listings last June), with 28 percent of those priced at or above $500,000. The 634 residential sales that have occurred in the past 365 days represent transactions in the range of under $100,000 (9%), $100,000-$249,999 (49%), $250,000-$499,999 (31%), $500,000-$999,999 (9%), and $1 million-plus (2%).

The current market absorption rates for Lincoln County homes is 3.9 months (under $100,000), 5.2 months ($100,000-$249,999), 10.8 months ($250,000-$499,999), 19.0 months ($500,000-$999,999), and 32.4 months ($1 million and up). This tells us how long it would take for existing inventories to be absorbed into the market at current rates of sales if no new listings were introduced.

Newcastle Realty tracks Lincoln County and statewide sales, along with other important metrics, which keeps our brokers fully informed of current market conditions and emerging trends as they serve buyer and seller client needs. Questions or comments may be directed to Dennis Hilton, President of Newcastle Realty at dennishilton@cheneycompanies.com or 207-380-3435.

  • Sales statistics based on information from the Maine Real Estate Information System, Inc. (d/b/a Maine Listings) for the period 1/1/19 through 7/23/19.

June 2019 Market and Sales Update

The single-family existing home market in Maine remains healthy as the summer sales season is in full swing. According to Maine Listings, Realtors reported selling 6.32 percent more homes in May 2019 compared to May 2018. The Median Sales Price for the state also jumped 4.59 percent to $230,000. The MSP indicates that half of the homes were sold for more and half sold for less.

May was a strong month for residential real estate sales in Maine and, after a slow start to 2019, we’re pulling even to 2018 levels. Sustained job security and low unemployment rates, healthy consumer finances, and lower mortgage interest rates have fueled real estate markets across Maine.

The National Association of Realtors says nationwide sales dipped 0.8 percent, while the national MSP increased 4.6 percent to $280,200 in May. Sales in the Northeast rose 4.7 percent while the regional MSP jumped 6.6 percent to $304,100.

Newcastle Realty is having a good first half of 2019. As of the date of this report, our brokers have closed 57 transaction sides with a total volume of $14,935,855—down slightly from our same Y-T-D sales in 2018. By comparison, the local Sotheby’s office has booked $12,507,070 from 35 sides, and Drum and Drum Real Estate has sold $12,072,210 with 45 sides. We are pleased to remain among the leading real estate firms in our area.

Most of the year-to-date 2019 property sales in the local area have occurred in Waldoboro (40), Boothbay (35), Wiscasset (26), Jefferson (36), Bristol (28), Boothbay Harbor (22), and Damariscotta (26). Slightly fewer sales have happened so far this year in Westport Island (9), Bremen (12), South Bristol (16), Dresden (11), Nobleboro (13), and Newcastle (14). Towns seeing just single-digit sales are Alna (4), Southport (8), Edgecomb (7), and Whitefield (9). Those that show one or no sales include Somerville (1), and Monhegan Island (0).

There are currently 350 single-family homes for sale in Lincoln County (up from 338 last month, but down from 445 last June), with 31 percent of those priced at or above $500,000. The 643 residential sales that have occurred in the past 365 days represent transactions in the range of under $100,000 (9%), $100,000-$249,999 (48%), $250,000-$499,999 (31%), $500,000-$999,999 (10%), and $1 million-plus (2%).

The current market absorption rates for Lincoln County homes is 3.4 months (under $100,000), 3.7 months ($100,000-$249,999), 7.9 months ($250,000-$499,999), 15.4 months ($500,000-$999,999), and 28.7 months ($1 million and up). This tells us how long it would take for existing inventories to be absorbed into the market at current rates of sales if no new listings were introduced.

Newcastle Realty tracks Lincoln County and statewide sales, along with other important metrics, which keeps our brokers fully informed of current market conditions and emerging trends as they serve buyer and seller client needs. Questions or comments may be directed to Dennis Hilton, President of Newcastle Realty at dennishilton@cheneycompanies.com or 207-380-3435.

  • Sales statistics based on information from the Maine Real Estate Information System, Inc. (d/b/a Maine Listings) for the period 1/1/19 through 6/21/19.

May 2019 Real Estate Market Update

Maine Realtors report strong sales and rising home prices for April 2019. Maine Listings released statistics today indicating a 4.8 percent increase in sales of single-family existing homes (compared to April 2018). The median sales price rose 5.0 percent to $210,000. The MSP indicates that half of the homes were sold for more and half sold for less.

After a few months of decline, the April and rolling quarter data has tilted back into positive territory with gains in units sold and median sold prices. For sale inventory remains limited in most markets, which has kept values healthy, especially where job growth is occurring.

Nationally, sales eased 4.0 percent comparing April 2019 to April 2018. According to the National Association of Realtors, the national MSP of $269,300 reflects an increase of 3.7 percent. Sales in the regional Northeastern states decreased 4.5 percent in April, while the regional MSP rose 0.9 percent from April 2019 to April 2018.

Newcastle Realty has had a good start to 2019. As of the date of this report, our brokers have closed 45 transaction sides with a total volume of $11,248,705—down slightly from our same Y-T-D sales in 2018. By comparison, Tindal & Callahan has booked $13,425,500 from 38 sides, and Drum and Drum Real Estate has sold $10,489,625 with 38 sides. We are pleased to remain among the leading real estate firms in our area.

Most of the year-to-date 2019 property sales in the local area have occurred in Waldoboro (31), Boothbay (28), Wiscasset (23), Jefferson (22), Bristol (21), Boothbay Harbor (13), and Damariscotta (15). Slightly fewer sales have happened so far this year in Westport Island (8), Bremen (8), South Bristol (11), Dresden (8), Edgecomb (6), Nobleboro (11), and Newcastle (11). Towns seeing just single-digit sales are Alna (2), Southport (4), and Whitefield (6). Those that show one or no sales include Somerville (1), and Monhegan Island (0).

There are currently 338 single-family homes for sale in Lincoln County (up considerably from 263 last month, but down from 374 last May), with 31 percent of those priced at or above $500,000. The 635 residential sales that have occurred in the past 365 days represent transactions in the range of under $100,000 (9%), $100,000-$249,999 (48%), $250,000-$499,999 (31%), $500,000-$999,999 (10%), and $1 million-plus (2%).

The current market absorption rates for Lincoln County homes is 4.0 months (under $100,000), 4.1 months ($100,000-$249,999), 7.0 months ($250,000-$499,999), 14.1 months ($500,000-$999,999), and 26.1 months ($1 million and up). This tells us how long it would take for existing inventories to be absorbed into the market at current rates of sales if no new listings were introduced.

Newcastle Realty tracks Lincoln County and statewide sales, along with other important metrics, which keeps our brokers fully informed of current market conditions and emerging trends as they serve buyer and seller client needs. Questions or comments may be directed to Dennis Hilton, President of Newcastle Realty at dennishilton@cheneycompanies.com or 207-380-3435.

  • Sales statistics based on information from the Maine Real Estate Information System, Inc. (d/b/a Maine Listings) for the period 1/1/19 through 5/21/19.

Spacious Custom Cape in Damariscotta!

Don’t miss making this your next family home…

at 66 Back Meadow Road.

Extended Cape privately sited, conveniently located and beautifully built by one of the area’s finest local builders. The home features an open concept kitchen/dining/living area, first floor master bedroom suite, den or office, three large bedrooms on the second floor and a huge family or entertainment room above the heated garage. Comfortable, sun-filled home with a mudroom, attached two car garage, tremendous space & potential in the basement. 

MLS#1409647

2019 Year-to-Date Market and Sales Update

Mirroring national statistics, sales of Maine’s existing single-family homes dipped in March. According to the Maine Association of Realtors, Realtors reported a 3.11 percent decline in sales last month with 1,120 homes changing hands—36 fewer than March of 2018. The median sales price for homes sold in March 2019 eased 0.94 percent to $210,000, down slightly from $212,000 in March 2018. The MSP indicates that half of the homes were sold for more and half sold for less.

For the fourth consecutive month, residential sales volume has shown decreases compared to figures from a year ago but are the third highest March sales volume during the past 17 years. Typically, with a decline in the number of sales, we’d see an increase in the for-sale inventory, but that’s not the case this month with sales down three percent and for for-sale inventory down five-and-a-half- percent. Buyers are in the marketplace but may not be finding the home that meets their needs due to the tight supply.

The National Association of Realtors released statistics showing a 4.7 percent decrease in sales nationwide for single-family existing homes, and an increase of 3.8 percent in the national MSP to $261,100 comparing March 2019 to March 2018. Home sales in the Northeast were down 1.5 percent and the regional MSP rose 2.5 percent to $277,500 over that same time period.

Newcastle Realty has had a good start to 2019. As of April 22, 2019, our brokers have closed 38 transaction sides with a total volume of $9,334,630—down slightly from our same Y-T-D sales in 2018. By comparison, Tindal & Callahan has booked $8,911,000 from 26 sides, and Drum and Drum Real Estate has sold $4,851,815 with 20 sides. We are pleased to remain the #1 real estate firm in our area.

Most of the year-to-date 2019 property sales in the local area have occurred in Waldoboro (25), Boothbay (20), Jefferson (17), Bristol (16), Boothbay Harbor (12), and Damariscotta (11). Slightly fewer sales have happened so far this year in Westport Island (7), Bremen (6), Wiscasset (7), South Bristol (7), Dresden (6), Edgecomb (5), Nobleboro (8), and Newcastle (7). Towns seeing just two or four sales are Alna (2), Southport (2), and Whitefield (4). Those that show one or no sales include Somerville (1), and Monhegan Island (0).

There are currently 263 single-family homes for sale in Lincoln County (up from 245 last month), with 33 percent of those priced at or above $500,000. The 635 residential sales that have occurred in the past 365 days represent transactions in the range of under $100,000 (9%), $100,000-$249,999 (49%), $250,000-$499,999 (30%), $500,000-$999,999 (9%), and $1 million-plus (3%).

The current market absorption rates for Lincoln County homes is 3.6 months (under $100,000), 2.6 months ($100,000-$249,999), 5.8 months ($250,000-$499,999), 11.7 months ($500,000-$999,999), and 26.2 months ($1 million and up). This tells us how long it would take for existing inventories to be absorbed into the market at current rates of sales if no new listings were introduced.

Newcastle Realty tracks Lincoln County and statewide sales, along with other important metrics, which keeps our brokers fully informed of current market conditions and emerging trends as they serve buyer and seller client needs. Questions or comments may be directed to Dennis Hilton, President of Newcastle Realty at dennishilton@cheneycompanies.com or 207-380-3435.

  • Sales statistics based on information from the Maine Real Estate Information System, Inc. (d/b/a Maine Listings) for the period 1/1/19 through 4/22/19.

March 2019 Market and Sales Update

Sales of single-family existing homes in Maine eased slightly, while prices rose 2.85 percent comparing February 2019 to February 2018. The Maine Association of Realtors released statistics indicating a 0.49 percent decline in sales during the month of February 2019 compared to February 2018. The median sales price for the 818 homes sold statewide reached $200,000. The MSP indicates that half of the homes were sold for more and half sold for less.

Conversations with Realtors across Maine and a review of the statistics indicate that we may be shifting to a more balanced real estate market. Sales volume over the past few months has shown decreases compared to figures from a year ago. However, for-sale inventory continues to be tight—four percent lower than February of 2018. While slightly decreasing, the February 2019 data shows a comfortable pace—the third highest February sales volume since 2011.

According to the National Association of Realtors, sales across the country were down 1.4 percent while the national MSP of $251,400 represents a 3.6 percent increase. Regionally, sales in the Northeast increased 1.5 percent and the MSP rose 3.8 percent to $272,900.

Newcastle Realty has had a good start to 2019. As of March 22, 2019, our brokers have closed 25 transaction sides with a total volume of $5,760,130—down from our same Y-T-D sales in 2018. By comparison, Tindal & Callahan has booked $4,394,000 from 17 sides and Drum and Drum Real Estate has sold $3,023,500 with 14 sides. We are pleased to remain the #1 real estate firm in our area.

Most of the year-to-date 2019 property sales in the local area have occurred in Waldoboro (15), Wiscasset (10), Boothbay (15), Jefferson (10), and Bristol (11). Slightly fewer sales have happened so far this year in Damariscotta (8), Westport Island (5), Boothbay Harbor (8), Bremen (5), South Bristol (4), Dresden (5), Edgecomb (4), Nobleboro (6), and Newcastle (5). Towns seeing just one or two sales are Alna (2) and Whitefield (2). Those that have yet to show any sales include Southport, Somerville, and Monhegan Island.

There are currently 245 single family homes for sale in Lincoln County (down from 254 last month), with 32 percent of those priced at or above $500,000. The 620 residential sales that have occurred in the past 365 days represent transactions in the range of under $100,000 (9%), $100,000-$249,999 (49%), $250,000-$499,999 (31%), $500,000-$999,999 (9%), and $1 million-plus (2%).

The current market absorption rates for Lincoln County homes is 3.0 months (under $100,000), 2.6 months ($100,000-$249,999), 5.5 months ($250,000-$499,999), 11.3 months ($500,000-$999,999), and 26.4 months ($1 million and up). This tells us how long it would take for existing inventories to be absorbed into the market at current rates of sales if no new listings were introduced.

Newcastle Realty tracks Lincoln County and statewide sales, along with other important metrics, which keeps our brokers fully informed of current market conditions and emerging trends as they serve buyer and seller client needs. Questions or comments may be directed to Dennis Hilton, President of Newcastle Realty at dennishilton@cheneycompanies.com or 207-380-3435.

  • Sales statistics based on information from the Maine Real Estate Information System, Inc. (d/b/a Maine Listings) for the period 1/1/19 through 3/22/19.

February 2019 Market and Sales Update

Home values are holding steady in Maine, while sales during the month of January 2019 declined compared to January 2018. According to Maine Listings, sales of single-family existing homes eased 12.9 percent last month, compared to January one year ago. Median sales prices (MSP), however, remain unchanged at $200,000. The MSP indicates that half of the homes were sold for more and half sold for less.

Time will tell how much of the January and rolling quarter decreases are attributable to the longest partial government shutdown in U.S. history, which ended on January 25th. The shutdown delayed or completely suspended some real estate transactions that were dependent on federal government-guaranteed loans.

The National Association of Realtors today announced a sales decline of 8.4 percent and an MSP increase of 3.1 percent to $249,400 comparing January 2019 to January 2018. The regional Northeast experienced a 1.4 percent decrease in sales, while the regional MSP rose 0.4 percent to $270,000 over that same time period.

Newcastle Realty has had a very good start to 2019. As of February 22, 2019, our brokers have closed 15 transaction sides with a total volume of $4,096,020—down from our same Y-T-D sales in 2018. By comparison, Tindal & Callahan has booked $3,204,000 from 9 sides and Drum and Drum Real Estate has sold $1,342,000 with 8 sides. We are pleased to remain the #1 real estate firm in our area.

Most of the year-to-date 2019 property sales in the local area have occurred in Waldoboro (7), Wiscasset (4), Westport Island (5), Boothbay (7), Jefferson (6), and Bristol (6). Slightly fewer sales have happened so far this year in Damariscotta (2), Boothbay Harbor (3), Bremen (4), Edgecomb (3), Nobleboro (5), and Newcastle (4). Towns seeing just one or two sales are Alna (2), South Bristol (1), and Dresden (2). Those that have yet to show any sales include Whitefield, Southport, Somerville, and Monhegan Island.

There are currently 254 single family homes for sale in Lincoln County (down from 314 last month), with 29 percent of those priced at or above $500,000. The 614 residential sales that have occurred in the past 365 days represent transactions in the range of under $100,000 (10%), $100,000-$249,999 (48%), $250,000-$499,999 (32%), $500,000-$999,999 (9%), and $1 million-plus (1%).

The current market absorption rates for Lincoln County homes is 4.0 months (under $100,000), 4.6 months ($100,000-$249,999), 7.5 months ($250,000-$499,999), 15.5 months ($500,000-$999,999), and 34.6 months ($1 million and up). This tells us how long it would take for existing inventories to be absorbed into the market at current rates of sales if no new listings were introduced.

Newcastle Realty tracks Lincoln County and statewide sales, along with other important metrics, which keeps our brokers fully informed of current market conditions and emerging trends as they serve buyer and seller client needs. Questions or comments may be directed to Dennis Hilton, President of Newcastle Realty at dennishilton@cheneycompanies.com or 207-380-3435.

  • Sales statistics based on information from the Maine Real Estate Information System, Inc. (d/b/a Maine Listings) for the period 1/1/19 through 2/22/19.

Historic Glidden Street Home offered by Newcastle Realty!

Welcome home to the “Wee Hoose”…

at 15 Glidden Street, Newcastle.

This 1820 cape is located on historic Glidden Street and is a stones throw away from downtown Damariscotta. Enjoy area shopping or dine at local favorite pubs and restaurants! This four bedroom three and a half bathroom cape sits on the banks on the Damariscotta River. It offers a light filled eat-in kitchen, wide pumpkin pine floors, four season sun room and a studio apartment located in the basement with a separate entrance. This beautiful property is being sold fully furnished and is ready for you to call home or use as a rental property.

  

Waterfront Home on Christmas Cove offered by Newcastle Realty!

Enjoy mesmerizing views of Christmas Cove at 24 Prescott Road, South Bristol. “Port O’ Call,” a magical Christmas Cove year-round home features a large deck overlooking the cove, new kitchen with high end appliances, a glassed sun room and spectacular views from every room. On chilly days, cozy up to the stone fireplace while still keeping an eye on the cove. Completely renovated in 2013/14, including a new septic system and water filtration system. Small lot so you can spend your time enjoying summer activities or just relaxing on the deck. Perfect second home or full time home. 

Christmas Cove is a great destination for yachters as part of your east west passage in Maine’s Midcoast, on your way between Boothbay and Pemaquid Point. Truly a magical and picturesque place!