Cheney Financial Group Wraps Up Season’s Events Supporting Local Art, Music and Food!

Cheney Financial Group is comprised of Cheney Insurance, Newcastle Realty and Newcastle Vacation Rentals, all locally owned and managed by a group of dedicated employees. Together, and separately, all three companies have a strong commitment to supporting local businesses and bringing together community.

 

 

 

 

 

This summer, CFG hosted three Local Flavors events at Newcastle Realty that promoted local artists, musicians, food, brews and wine. Members of the community and employees enjoyed delicious food and drink offerings, networking, talented musicians and artists. Last week, blues guitarist, songwriter, and singer Paul Curtis entertained with a great variety and array of pieces. Delicious hors d’oeurvres, tastings of two special signature cocktails, local beer and wine selections were provided by Cerina Leeman of The BPL Cocktail Bar and The Harbor Room.

 

 

Smokey McKeen of Pemaquid Oyster Co. supplied and shucked ice cold oysters that had been harvested that morning from Damariscotta River. Winners of donated raffle items were Lee Simard for a gift card from Bath Savings, Terri Herald for a gift card from Pea Pod Jewelry, Lynn Moller for a gift bag from Bath Savings, and Debi Fox for a gift card from Best Thai. The artists exhibit “Seven Days on Monhegan” with pastels and paintings by Susan Tilton Pecora and Kim Skillin Traina will continue to be on display at Newcastle Realty, 87 Main Street, Damariscotta through the end of October. For more information, contact Kristy Battles, at 207.563.1003 or, follow us on Facebook.

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 percent to $230,000 compared to August 2018. The MSP indicates that half of the homes were sold for more and half sold for less.

It has been a strong real estate year for much of Maine and good quality for-sale inventory is moving quickly. With low mortgage interest rates and motivated buyers in the marketplace, now is a good time to list and sell. Please reach out to a Newcastle Realty agent with your questions or to discuss the value of your property.

The National Association of Realtors reported a 2.9 percent increase in sales nationwide and an MSP bump of 4.7 percent in the past year. Regionally, single-family home sales in the Northeastern region were up 1.4 percent, while the regional MSP eased 0.3 percent last month to $303,500.

Newcastle Realty continues to enjoy a very good sales year. As of the date of this report, our brokers have closed 112 transaction sides with a total volume of $26,738,950—down slightly from our same Y-T-D numbers in 2018. In comparison, the local Sotheby’s office has booked $19,900,870 from 51 sides, and Drum and Drum Real Estate has sold $16,088,590 with 61 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 (74), Boothbay (60), Wiscasset (49), Jefferson (57), Bristol (55), Boothbay Harbor (42), and Damariscotta (37). Slightly fewer sales have happened so far this year in Westport Island (15), Bremen (18), South Bristol (21), Dresden (16), Nobleboro (20), Edgecomb (16), Whitefield (20), Southport (15) and Newcastle (24). Towns seeing just ten or fewer sales include Alna (10) and Somerville (6).

There are currently 435 single-family homes for sale in Lincoln County (down slightly from 446 last month, but the exact same number we had last September), with 30 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 (33%), $500,000-$999,999 (8%), and $1 million-plus (2%).

The current market absorption rates for Lincoln County homes is 3.7 months (under $100,000), 5.6 months ($100,000-$249,999), 8.9 months ($250,000-$499,999), 20.0 months ($500,000-$999,999), and 34.0 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 9/19/19.

Local Flavors Summer Series- A Huge Success!

Cheney Financial Group hosted the second of three fun summer events for the community filled with laughter and networking on Thursday, August 15. The events support and showcase local artists, local musicians, local food, local brews and wine.  Delicious hors d’oeuvres and tastings of Oxbow and Allagash beer and Cellardoor wine were provided by Lurie Sprague-Palino of Seacoast Catering and Lobsterbakes and Damariscotta River oysters were supplied by Pemaquid Oyster Co.  Artist Susan Bartlett Rice exhibited her beautiful paintings, which will be on display through September 8.  Local musicians, Chris Hight and Annette Rundall, provided fun music under the tent.  Watch for news on our next event, Thursday, September 12, showcasing a new line-up of local art, music, food and brew!

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 community together.

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 the homes were sold for more and half sold for less.

For-sale inventory has crept up slightly, though competition for entry-level homes remains high. With an increase in available listings and very affordable mortgage interest rates, we expect markets to remain steady.

According to the National Association of Realtors, sales across the country rose 1.0 percent in July. The national MSP increased 4.5 percent to $284,000. Regionally, sales in the Northeast dipped 4.3 percent in the past year, and the MSP reached $305,800—down one percent. Sales volume has been up-and-down over the first seven months of 2019 and is running only 1.6 percent below the comparable time period for 2018, Maine’s record-breaking year. Real estate continues to be a great long-term financial investment.

Newcastle Realty has experienced a very good first half of 2019. As of the date of this report, our brokers have closed 96 transaction sides with a total volume of $22,981,835—down slightly from our same Y-T-D sales in 2018. By comparison, the local Sotheby’s office has booked $16,385,870 from 46 sides, and Drum and Drum Real Estate has sold $15,530,710 with 59 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 (64), Boothbay (53), Wiscasset (43), Jefferson (48), Bristol (44), Boothbay Harbor (33), and Damariscotta (35). Slightly fewer sales have happened so far this year in Westport Island (14), Bremen (16), South Bristol (20), Dresden (14), Southport (12), Nobleboro (18), Edgecomb (14), Whitefield (16) and Newcastle (23). Towns seeing just single-digit sales are Alna (8) and Somerville (3).

There are currently 446 single-family homes for sale in Lincoln County (down slightly from 452 last month), with 30 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 (8%), $100,000-$249,999 (49%), $250,000-$499,999 (32%), $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), 5.4 months ($100,000-$249,999), 9.6 months ($250,000-$499,999), 18.9 months ($500,000-$999,999), and 37.3 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 8/22/19.

Local Flavors Summer Series Event September 12 at Newcastle Realty

Cheney Financial Group is hosting the third of three fun summer events Thursday, September 12, from 4:30 to 6:00. The events support and showcase local artists, local musicians, local food, local brews and wine.   Artists Sandra Dunn, Susan Pecora, and Kim Traina will exhibit their work and live music will be performed by the ever popular Cami & The Rogues. Delicious edibles and signature cocktails will be provided by The BPL Cocktail. 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. 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!

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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