CHENEY FINANCIAL GROUP CELEBRATES, ANNOUNCES PROMOTIONS

At their annual Selling Season Kick-Off Breakfast held at the Oysterhead Lounge in Newcastle recently, the 33 associates from Cheney Insurance, Newcastle Realty, and Newcastle Vacation Rentals gathered to honor their clients, to welcome spring, and to celebrate the success of their companies, which together make up the Cheney Financial Group.

Area native Dennis Hilton of Nobleboro has served as President and CEO of these Damariscotta-based service businesses for over 30 years, and during his remarks he recognized key employees, first-time attendees, and those staff members who had reached milestone years of service.

In addition, Hilton announced the following promotions of four members of their leadership team. Kristy Battles, who serves as Chief Administrative Officer at Newcastle Realty, has been promoted to also be the manager of Newcastle Vacation Rentals. For Cheney Insurance, Jasmyn Rose was promoted to Vice President of Business Insurance and Holly Harris was promoted to Vice President of Personal Insurance. Lastly, Hannah Kutschinski was promoted to Human Resource Manager for all of the Cheney Financial Group, and will also continue in her role as Office Administrator for Newcastle Realty.

“Our Chief Financial Officer Joe Ford and I are very proud of our staff and leadership team,” commented Hilton, “and we, along with the rest of our associates, are pleased to recognize the important contributions Kristy, Jasmyn, Holly, and Hannah make every day to our success. As an organization, we look forward to continuing to serve the insurance, real estate, and vacation rental needs of the area communities well into the future.”

Cheney Insurance is a family-owned business that has been operating locally for more than 75 years. Their office is located at 277 Main Street, Damariscotta and they can be reached at 207-563-3435. Newcastle Realty, with a staff of 20 real estate agents, is the largest realty firm in the area. They have offices at 87 Main Street, Damariscotta (207-563-1003) and 14 Todd Avenue in Boothbay Harbor (207-633-4433). And Newcastle Vacation Rentals is based in Damariscotta and manages the seasonal rental activities for over 80 cottage and property owners on nearby lakes, ponds, rivers, and the ocean. They can be reached at 207-563-6500. 

 

May 2022 Market Update

Prices for single-family existing homes in Maine saw a jump of 25.36 percent in April 2022 compared to April of last year. Statistics shared by the Maine Association of Realtors indicated the sale of 1,143 homes in April 2022, a decrease of 20.90 percent over April 2021. The statewide median sales price (MSP) for homes sold reached $346,000. The MSP indicates that half of the homes were sold for more and half sold for less.

Due to continued demand, the Maine real estate market remains strong despite limited for-sale inventory.  The number of homes sold from January-April 2022 is 4.5 percent higher than January-April of 2019, which was previously Maine’s top year for real estate sales.  Though seemingly robust, the real estate market is experiencing it’s tenth consecutive month of year-over-year sales declines, with seven of those months showing a decline in for-sale inventory.

According to the National Association of Realtors, sales across the country dipped by 4.8 percent in April 2022 compared to April 2021, while the MSP increased 14.8 percent to $397,600. Regionally, sales in the Northeast decreased 10.7 percent while the regional MSP increased 8.1 percent, reaching $412,100 comparing April of this year to April of last year.

Our company continues to excel with a full staff of exceptional local agents. We are excited to remain the leading real estate firm in the Damariscotta area as we serve buyers and sellers. As of the date of this report, our brokers have closed 55 transaction sides with a total volume of $21,760,500 —up 12% over our Y-T-D numbers in 2021. In comparison, Drum and Drum Real Estate has sold $5,937,525 with 16 sides, and Farrin Properties has sold $2,572,800 with 17 sides.

Most of the year-to-date 2022 property sales locally have occurred in Waldoboro (32), Jefferson (30), Boothbay Harbor (22), Wiscasset (22), Damariscotta (22), Boothbay (20), and Bristol (26). Slightly fewer sales have happened so far in Dresden (13), Edgecomb (13), Newcastle (12), Nobleboro (10), Westport Island (10), Whitefield (13), and Southport (9). Towns seeing even fewer sales include South Bristol (4), Bremen (3), Alna (4), Somerville (1), and Monhegan Island (0).

There are currently 96 single-family homes for sale in Lincoln County (up from 74 in April), with 46 percent of those priced at or above $500,000. The 701 residential sales that have occurred in the last 365 days represent transactions in the range of under $100,000 (4%), $100,000-$249,999 (23%), $250,000-$499,999 (46%), $500,000-$999,999 (20%), and $1 million-plus (8%). Listing inventory remains super low—it is a great time to sell and our brokers are ready to answer your questions about the process.

The current market absorption rates for Lincoln County homes are 0.5 months (under $100,000), 01.3 months ($100,000-$249,999), 1.3 months ($250,000-$499,999), 2.9 months ($500,000-$999,999), and 2.5 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.

NEWCASTLE REALTY ASSISTS IN HISTORIC LAND SALE

With the involvement of Newcastle Realty, Coastal Rivers Conservation Trust recently completed their largest single-day acquisition in the history of that organization. The newly obtained 476 acres located in Bristol will join an adjacent 230+ acres already in conservation with Coastal Rivers. By placing these parcels in conservation, Coastal Rivers works to ensure the preservation of important ecological necessities for generations to come.

Receiving support from various individuals and organizations, Coastal Rivers purchased the expansive parcel from the Hunt family. Newcastle Realty agents Kirsten Ingram and Patti Brown worked closely with sellers Norman and Robbie Hunt, and agency President Dennis Hilton assisted in coordinating details between the Hunts and Coastal Rivers. In the end and after many months, the transaction was able to be closed with all parties achieving their goals. A respected provider of real estate services in the mid-coast Maine area, Newcastle Realty has helped local families and organizations achieve their real estate goals for over 30 years.

With a long history of community involvement and dedication to conservation efforts, Newcastle Realty takes pride in being able to assist with this historic transaction. For more information on Newcastle Realty’s commitment to community involvement, please visit: https://www.mynewcastle.com/about/community-support/

April 2022 Market Update

The Maine real estate market is beginning to see a gradual return of for-sale single-family homes. Statistics shared by Maine Listings show a 21.48 percent sales decline in March 2022 compared to March 2021, due to an ongoing lack of for-sale inventory combined with increased buyer demand. 1,031 homes were sold statewide last month with the median sales price (MSP) reaching $325,000, an increase of 21.04 percent from March of last year. The MSP indicates that half the homes were sold for more and half sold for less.

The statewide median days on market was just nine days in March 2022, compared to 11 days one year ago, and 70 days in pre-pandemic March 2019. Following seven consecutive months of declining for-sale inventory, statistics indicate a 5.2 percent increase in single-family homes for sale from February to March 2022.

The National Association of Realtors reported a nationwide decline of 3.8 percent in sales of single-family homes in March 2022 compared to March 2021. The national MSP increased 15.2 percent, reaching $382,000. Regionally, March 2022 sales dipped in the Northeast by 11.8 percent while the regional MSP rose 6.8 percent to $390,200 compared to March 2021.

Our company continues to excel with a full staff of exceptional local agents. We are excited to remain the leading real estate firm in the Damariscotta area as we serve buyers and sellers. As of the date of this report, our brokers have closed 45 transaction sides with a total volume of $16,893,500 —up 22% over our Y-T-D numbers in 2021. In comparison, Drum and Drum Real Estate has sold $3,733,525 with 12 sides, and Sotheby’s has sold $14,588,000 with 18 sides.

Most of the year-to-date 2022 property sales locally have occurred in Waldoboro (26), Jefferson (24), Boothbay Harbor (20), Wiscasset (15), Damariscotta (15), Boothbay (18), and Bristol (18). Slightly fewer sales have happened so far in Dresden (11), Edgecomb (11), Newcastle (9), Nobleboro (6), Westport Island (9), Whitefield (9), and Southport (9). Towns seeing even fewer sales include South Bristol (3), Bremen (3), Alna (4), Somerville (1), and Monhegan Island (0).

There are currently 74 single-family homes for sale in Lincoln County (up from 59 in March), with 43 percent of those priced at or above $500,000. The 702 residential sales that have occurred in the last 365 days represent transactions in the range of under $100,000 (4%), $100,000-$249,999 (23%), $250,000-$499,999 (46%), $500,000-$999,999 (20%), and $1 million-plus (7%). Listing inventory remains super low—it is a great time to sell and our brokers are ready to answer your questions about the process.

The current market absorption rates for Lincoln County homes are 2.3 months (under $100,000), 0.7 months ($100,000-$249,999), 1.0 months ($250,000-$499,999), 2.2 months ($500,000-$999,999), and 1.7 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.

 

March 2022 Market Update

Persistent buyer demand for Maine real estate combined with low for-sale inventory continues to fuel a competitive market, driving sale prices higher. According to Maine Listings, February 2022 sales declined 17.33 percent compared to February 2021, while the median sales price (MSP) increased 21.48 percent, reaching $297,500. The MSP indicates that half of the homes were sold for more and half sold for less.

The demand for homes in Maine remains strong but the number of transactions being conducted are constrained due to diminished supply of real estate inventory. Two years into the pandemic, for-sale homes continue to receive multiple purchase offers and are under contract within days.

Comparing February 2022 to February 2021, the National Association of Realtors indicated a 2.2 percent dip in nationwide sales with the national MSP reaching $363,800, a 15.5 percent increase. Regional sales of single-family homes in the Northeast declined 12.7 percent while the regional MSP rose 7.1 percent to $383,700. February 2022 experienced the third highest number of single-family home sales in the past 24 years of Maine real estate.

Our company continues to excel with a full staff of exceptional local agents. We are excited to remain the leading real estate firm in the Damariscotta area as we serve buyers and sellers. As of the date of this report, our brokers have closed 24 transaction sides with a total volume of $8,576,500 —up 21% over our Y-T-D numbers in 2021. In comparison, Drum and Drum Real Estate has sold $4,143,500 with 10 sides, and Sotheby’s has sold $8,055,000 with 11 sides.

Most of the year-to-date 2022 property sales locally have occurred in Jefferson (19), Boothbay Harbor (14), Wiscasset (13), Waldoboro (14), Boothbay (10), and Bristol (10). Slightly fewer sales have happened so far in Dresden (6), Edgecomb (5), Damariscotta (9), Newcastle (8), Nobleboro (5), Westport Island (8), and Southport (8). Towns seeing even fewer sales include South Bristol (2), Whitefield (4), Bremen (2), Alna (4), Somerville (1), and Monhegan Island (0).

There are currently 59 single-family homes for sale in Lincoln County (down from 64 in February), with 39 percent of those priced at or above $500,000. The 711 residential sales that have occurred in the last 365 days represent transactions in the range of under $100,000 (4%), $100,000-$249,999 (24%), $250,000-$499,999 (46%), $500,000-$999,999 (19%), and $1 million-plus (7%). Listing inventory remains super low—it is a great time to sell and our brokers are ready to answer your questions about the process.

The current market absorption rates for Lincoln County homes are 1.7 months (under $100,000), 0.6 months ($100,000-$249,999), 0.9 months ($250,000-$499,999), 1.5 months ($500,000-$999,999), and 1.5 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.

NEWCASTLE REALTY SUPPORTS LINCOLN ACADEMY BASKETBALL PROGRAM

(Photo Courtesy of Lincoln County News)

 

Representatives from the staff at Newcastle Realty presented a check for $1,450 to Lincoln Academy of Newcastle, Maine in support of their high school basketball program during a home game recently.

For over 15 years, Newcastle Realty has sponsored an exciting Half-Time Shoot Out program, a fun intermission fund-raising contest conducted at all home games in which a fan is chosen to attempt basketball shots from the free throw line, three-point line, and half court within 30 seconds. Cash winnings and prizes such as Newcastle Realty-branded T-shirts are handed out based on the successful shots.

Many of the Newcastle Realty staff are graduates of Lincoln Academy alumni, including owner and president Dennis Hilton, a member of the Class of ‘84. About a half-dozen other NR agents are also LA alumni.

Over the years, this program has generated over $16,000 in donations to Lincoln Academy and their Boosters Club from Newcastle Realty and sister companies Cheney Insurance and Newcastle Vacation Rentals. These related businesses form The Cheney Financial Group which through their charitable giving committee has contributed over $250,000 since 1990 to dozens of non-profit organizations in Lincoln County.

You can learn more about us by visiting www.cheneycompanies.com or viewing the Facebook pages for Cheney Insurance, Newcastle Realty, and Newcastle Vacation Rentals.

February 2022 Market Update

Maine real estate experienced another historic high for sales of single-family homes in the month of January. Though statistics shared from Maine Listings indicate a slight decrease of 7.2 percent in sales compared to January of last year, sales numbers are still experiencing the positive effects of COVID-19.

Sales in January 2022 exceeded those of January 2020 by nearly 10% which demonstrates that markets across the state remain robust though constrained due to perpetual buyer demand and low availability of for-sale inventory. Since the start of the pandemic, Maine’s rural communities have experienced an influx of home buyers in response to remote employment possibilities and increasing sales prices.

The Maine median sales price (MSP) for single-family existing homes rose 14.47 percent to $292,250 comparing January 2022 to January 2021. The MSP indicates that half of the homes were sold for more and half sold for less.

Our company continues to excel with a full staff of exceptional local agents and we are incorporating innovative new marketing programs into our overall 2022 plan. We are excitied to remain the leading real estate firm in the Damariscotta area as we serve buyers and sellers. As of the date of this report, our brokers have closed 17 transaction sides with a total volume of $5,469,000 —up 44% over our Y-T-D numbers in 2021. In comparison, Drum and Drum Real Estate has sold $1,559,000 with six sides, and Sotheby’s has sold $5,040,500 with seven sides.

Most of the year-to-date 2022 property sales locally have occurred in Jefferson (15), Boothbay Harbor (10), Wiscasset (9), Waldoboro (8), Boothbay (7), and Bristol (7). Slightly fewer sales have happened so far in Dresden (6), Edgecomb (4), Damariscotta (6), Newcastle (4), Nobleboro (4), Westport Island (4), and Southport (4). Towns seeing even fewer sales include South Bristol (1), Whitefield (2), Bremen (1), Alna (3), Somerville (1), and Monhegan Island (0).

There are currently 64 single-family homes for sale in Lincoln County (down from 84 in December), with 41 percent of those priced at or above $500,000. The 736 residential sales that have occurred in the last 365 days represent transactions in the range of under $100,000 (4%), $100,000-$249,999 (25%), $250,000-$499,999 (46%), $500,000-$999,999 (19%), and $1 million-plus (7%). Listing inventory remains super low—it is a great time to sell and our brokers are ready to answer your questions about the process.

The current market absorption rates for Lincoln County homes are 1.4 months (under $100,000), 0.4 months ($100,000-$249,999), 1.0 months ($250,000-$499,999), 1.5 months ($500,000-$999,999), and 2.5 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.

 

Newcastle Realty Celebrates with Staff Sales Awards

Company owner Dennis Hilton celebrated Newcastle Realty’s 2021 sales successes recently by presenting the following staff awards in a remote ZOOM company-wide gathering. Realtor Sara Rogers of Nobleboro was recognized as a two-time $2 Million Dollar Club member with her 2021 sales of more than $2.4 million as she handled almost a dozen transaction sides. Realtor Lorrie Zeiner of Southport received a plaque recognizing her sales last year of more than $2.5 million over a long career during which she has helped hundreds of families with their real estate needs.

Joining the Newcastle Realty $3 Million Dollar Club were Realtors Tate Sandrock and Carmen Reed, both of Nobleboro, along with Realtor Anne Peaslee of Edgecomb. While Peaslee is a veteran Newcastle Realty agent with a long history of successfully working with clients, Sandrock and Reed are more recent graduates of the company’s Apprenticeship Program which helps develop new licensees. Each of these three brokers were recognized for their sales and outstanding client satisfaction during 2021.

   

Hilton welcomed Realtors Clint Miller of Boothbay and Debi Fox of Damariscotta to the $4 Million Dollar Club; Miller with sales of more than $4.2 million and Fox reaching over $4.5 million. Miller has been a Newcastle Realty agent since 2017, and has been instrumental in helping to launch Newcastle Realty’s new Boothbay Harbor branch office, and Debi Fox has enjoyed a very strong client following among Lincoln County property owners for many years.

Veteran Newcastle Realty agent Debby Schling was recognized for her $5.7 million in real estate sales last year, and Realtor David Hagan for his $5.8 million. Both award recipients reside in Damariscotta. Hagan graduated from the Newcastle Realty Apprenticeship Program in 2019, and Schling has served as an Apprentice Agent Mentor to a number of successful program participants.

   

Realtor Fred Hebert of New Harbor had a very successful year in 2021 with more than $7.3 million in sales, joining the Newcastle Realty $7 Million Dollar Club. Hebert handled 17 transaction sides and was mentored by long-time NR agents Bill Byrnes and Lee Simard, now both enjoying retirement. Congratulations to Fred and also to Newcastle Realty’s top producing agent for the second year in a row, Kirsten Ingram of Bremen. Kirsten joined the company in 2018 and is also a graduate of the Newcastle Realty Apprenticeship Program. In addition to her outstanding production and client satisfaction, she now serves as a mentor to other agents herself. Hilton expressed his thanks for the hard work of his entire staff during 2021 as he welcomed Ingram to the $11 Million Dollar Club at Newcastle Realty.

   

Newcastle Realty is a locally-owned real estate firm with a Main Street storefront presence in Damariscotta and a new branch office located at 14 Todd Avenue in Boothbay Harbor. The company focuses on helping families throughout Lincoln County and beyond with their real estate needs. They can be found on the web at www.MyNewcastle.com, and are part of The Cheney Financial Group, with over 26 professional associates serving the property ownership and insurance needs of thousands of families and businesses throughout Maine. Together, the CFG member companies have annual sales in excess of $67 million. You can learn more by visiting www.cheneycompanies.com or viewing the Facebook pages for Cheney Insurance, Newcastle Realty, and Newcastle Vacation Rentals.

 

 

January 2022 Market Update

Strong demand for single-family homes in Maine persisted for the full sales year of 2021. Statistics shared by Maine Listings indicated the statewide median sales price (MSP) reached $299,000 last year, showing an increase of 16.8 percent with the number of sales increasing 2.41 percent.  The MSP indicates that half of the homes were sold for more and half sold for less.

2021 proved to be a historic year for residential real estate in Maine. Reaching 20,401 reported transactions and MSP of $299,000, the sales year for 2021 saw the highest numbers in more than 21 years.  According to Maine Listings, December 2021 indicated a 12.22 percent MSP increase to $303,000 and a slight decrease of 12.65 percent in sales compared to December 2020.

Following the 2020 COVID shutdown, 2021 began with positive momentum. Though sales demand has been strong, the limited for-sale inventory has led to a supply-demand imbalance. Most markets have experienced a dip in number of residencies sold but a double-digit increase in median sold prices.

Our company continues to excel and remains the leading real estate firm in the Damariscotta area. As of the date of this report, our brokers have closed 10 transaction sides with a total volume of $3,463,000 —up 214% over our Y-T-D numbers in 2021. In comparison, Drum and Drum Real Estate has sold $400,000 with one side, and Sotheby’s has sold $600,000 with one side.

Most of the year-to-date 2022 property sales locally have occurred in Boothbay (4), Boothbay Harbor (4), Wiscasset (5), and Jefferson (5). Slightly fewer sales have happened so far in Edgecomb (2), Damariscotta (2), Newcastle (1), Nobleboro (1), Waldoboro (1), Alna (1), Somerville (1), Bristol (1) and Southport (2). Towns not seeing any sales yet include South Bristol (0), Dresden (0), Whitefield (0), Bremen (0), Westport Island (0), and Monhegan Island (0).

There are currently 84 single-family homes for sale in Lincoln County (down from 99 in December), with 35 percent of those priced at or above $500,000. The 737 residential sales that have occurred in the last 365 days represent transactions in the range of under $100,000 (4%), $100,000-$249,999 (26%), $250,000-$499,999 (46%), $500,000-$999,999 (19%), and $1 million-plus (6%). Listing inventory remains super low—it is a great time to sell and our brokers are ready to answer your questions about the process.

The current market absorption rates for Lincoln County homes are 1.3 months (under $100,000), 1.0 months ($100,000-$249,999), 1.3 months ($250,000-$499,999), 1.8 months ($500,000-$999,999), and 2.3 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.

December 2021 Market Update

While increased demand for single-family homes in Maine continues, for-sale inventory remains lower than usual. Data released by Maine Listings showed a slight sales decrease of 7.99 percent in November 2021 while prices increased 11.11 percent compared to November 2020. The median sales price (MSP) reached $300,000, compared to $270,000 in November of last year. The MSP indicates that half of the homes were sold for more and half sold for less.

Though we have seen lower sales volume during the second half of this year, January through November 2021 were record months for Maine. Residential real estate transactions were 4.1 percent higher than the comparable time period in 2020, which was Maine’s all-time high. Compared to pre-pandemic 2019 numbers, 2021 figures are 12.3 percent higher. The high demand for residential real estate is hindered by the low supply of for-sale homes across the state.

There were 33 percent fewer homes for sale in November 2021 than November 2020 and 59 percent fewer than November 2019. With a balanced real estate market relying on a six-month supply of for-sale inventory as the benchmark, our current numbers indicate a mere 1.7-month supply.

Our company continues to excel and remains the leading real estate firm in the Damariscotta area. As of the date of this report, our brokers have closed 203 transaction sides with a total volume of $60,971,125 —down 4% over our Y-T-D numbers in 2020. In comparison, Drum and Drum Real Estate has sold $18,142,370 with 47 sides, and Sotheby’s has sold $55,303,450 with 90 sides.

Most of the year-to-date 2021 property sales locally have occurred in Waldoboro (118), Boothbay (124), Wiscasset (96), Bristol (117), and Jefferson (82). Slightly fewer sales have happened so far in Damariscotta (57), Dresden (44), Whitefield (45), Newcastle (47), and Boothbay Harbor (68). Towns seeing even fewer sales include Nobleboro (46), Edgecomb (43), Bremen (27), Westport Island (34), South Bristol (38), and Southport (33). Just a handful of 2021 sales have occurred in Alna (13), Somerville (11), and Monhegan Island (1).

There are currently 99 single-family homes for sale in Lincoln County (down from 138 in October), with 36 percent of those priced at or above $500,000. The 742 residential sales that have occurred in the last 365 days represent transactions in the range of under $100,000 (4%), $100,000-$249,999 (25%), $250,000-$499,999 (46%), $500,000-$999,999 (19%), and $1 million-plus (6%). Listing inventory remains super low—it is a great time to sell and our brokers are ready to answer your questions about the process.

The current market absorption rates for Lincoln County homes are 1.2 months (under $100,000), 1.5 months ($100,000-$249,999), 1.4 months ($250,000-$499,999), 2.0 months ($500,000-$999,999), and 3.4 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.