May 2018 Market Update Report

Tighter inventory in the single-family existing home real estate market has led to an uptick in sales prices and home sales. According to Maine Listings, 1,201 homes were sold in April—an 8.59 percent increase compared to April of 2017. Sales prices are also on the rise; a median sales price of $200,000 represents a jump of 8.11 percent comparing April 2018 to April 2017. The MSP indicates that half of the homes were sold for more and half for less.

The April statistics show continued high volume and confidence in home ownership. With limited for-sale inventory and tight markets in many areas of Maine, we’re seeing increased sales prices. Buyers are adjusting to the market conditions, choosing different commuting distances, and including larger down payments to keep their mortgages affordable and provide housing expense stability over the long-term.

Nationwide, sales decreased 1.6 percent over the past year. The National Association of REALTORS today released statistics showing a 5.5 percent increase in the national MSP to $259,900. The regional Northeast experienced an 11 percent dip in sales, while the regional MSP rose 2.8 percent to $275,000.

Newcastle Realty has had a strong start to the 2018 selling season. As of May 24, 2018, our brokers have closed 59 transaction sides with a total volume of $13,981,201—a 3 percent increase over our same Y-T-D sales in 2017. By comparison, Tindal and Callahan has posted 39 sides for $9,219,471 in volume, and Drum and Drum Real Estate has sold $5,924,000 with 16 sides.

Most of the year-to-date 2018 property sales in the local area have occurred in Waldoboro (58), Wiscasset (69), Boothbay (75), Boothbay Harbor (50), and Bristol (60). Slightly fewer sales have happened so far this year in Jefferson (49), Damariscotta (38), Edgecomb (30), Westport Island (24), Whitefield (28), Nobleboro (25), Bremen (15), Dresden (20), and Newcastle (24). Towns showing less than a dozen sales include South Bristol (10), Somerville (10), Alna (6), Southport (6), and Monhegan Island (1).

There are currently 374 single family homes for sale in Lincoln County (up from 318 last month), with 29 percent of those priced at or above $500,000. The 543 residential sales that have occurred in the past 365 days represent transactions in the range of under $100,000 (9%), $100,000-$249,999 (52%), $250,000-$499,999 (28%), $500,000-$999,999 (9%), and $1 million-plus (2%).

The current market absorption rates for Lincoln County homes is 3.5 months (under $100,000), 5.2 months ($100,000-$249,999), 10.3 months ($250,000-$499,999), 21.6 months ($500,000-$999,999), and 30 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 1/1/18 through 5/24/18.

Waterfront Estate on Greenland Cove!

Escape to the coast…

at 7 & 16 Periwinkle Point, Bremen.

This light-filled, waterfront home offers the peace and serenity you have been searching for! Enjoy your own dock and float on pristine Greenland Cove. Open ocean just minutes away! Polished wood floors greet you the moment you walk in the door. The captivating granite fireplace soars into the cathedral ceiling making it visible from living room, kitchen, dining area as well as the second floor. Fully equipped kitchen with breakfast bar for casual dining. En-suite master makes one-floor living possible here. Bonus room, two bedrooms. and bath on 2nd floor. Views from every room!! Extra garage bay in the spacious basement for that boat you have always wanted! Simply landscaped-easy to maintain. Offer your guests their own privacy in the detached two bedrooms, winterized home just up the hill. Could be rental opportunity with separate access to the water or place a caretaker here.

This is the perfect home to get away from it all!

 

MLS#1296952

Great Opportunity in Damariscotta!

Great location, great opportunity …

at 61 & 63 Church Street, Damariscotta.

This is the perfect opportunity to owner occupy this quaint residence located within a short walk to downtown Damariscotta. Get help with your mortgage from the two unit Gambrel cottage on the same lot! Main house has two bedrooms, two & a half bathrooms and an attached garage. Nice yard for gardening or outdoor fun. Both rental units are one bedroom, one bath. Great rental history on both buildings. This property is in the C-2 zone which allows for an office location as well. Owners have kept this property in great shape. Main house has been cosmetically updated just recently with new appliances and bath fixtures. 

Don’t miss out on this great opportunity!

MLS#1300952

March 2018 Market and Sales Update

Single-family existing home values in Maine continue to rise, and sales have remained in healthy territory. Maine Listings today reported that 822 homes changed hands in February, an increase of 5.93 percent compared to February 2017. The median sales price (MSP) for homes sold reached $194,450, up 8.03 percent, comparing February 2018 to February 2017. The MSP indicates that half of the homes were sold for more and half for less.

Now is a great time to list your property, because buyers are searching for homes in anticipation of spring. Realtors are reporting that multiple offer situations are common in areas that are at full employment. In Maine’s rural areas, buyers are more cautious, but they are finding great values.

According to the National Association of Realtors, sales of single-family existing homes nationwide were up 1.8 percent in February, and the national MSP of $243,400 represents a 5.9 percent increase from February 2017. Regionally, February sales in the Northeast dipped 7.2 percent, while the regional MSP increased 3.6 percent to $258,900 compared to February 2017.

Newcastle Realty has had a very strong start to the 2018 selling season. As of March 21, 2018, our brokers have closed 32 transaction sides with a total volume of $8,069,001—a 37% increase over our same Y-T-D sales in 2017. By comparison, Tindal and Callahan has posted 24 sides for $6,208,000 in volume, and Drum and Drum Real Estate has sold $2,531,500 with eight sides.

Most of the early 2018 property sales in the local area have occurred in Waldoboro (11), Jefferson (8), Wiscasset (9), Boothbay (14), and Bristol (10). Just a few sales have happened so far this year in Boothbay Harbor (6), Damariscotta (4), Edgecomb (2), Nobleboro (2), Bremen (4), Dresden (2), and Newcastle (4). Towns showing just one or two sales include South Bristol, Westport Island, Somerville, and Whitefield, and no 2018 sales have been posted yet in Alna or Southport.

There are currently 310 single family homes for sale in Lincoln County (down from 325 last month), with 28 percent of those priced at or above $500,000. The 619 residential sales that have occurred in the past 365 days represent transactions in the range of under $100,000 (13%), $100,000-$249,999 (50%), $250,000-$499,999 (26%), $500,000-$999,999 (9%), and $1 million-plus (2%).

The current market absorption rates for Lincoln County homes is 2.5 months (under $100,000), 3.9 months ($100,000-$249,999), 8.1 months ($250,000-$499,999), 14.8 months ($500,000-$999,999), and 20.3 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 1/1/18 through 3/21/18.

Broker Debi Fox Goes the Extra Mile at Newcastle Realty

Debi Fox, one of Newcastle Realty’s seasoned broker team, has been selling real estate in Lincoln County for 18 years.  After selling her business, Fox Glass Works in Damariscotta in 2000, she re-activated her broker’s license. Debi comes by her involvement with real estate naturally.  Her husband, Bruce Lilly, is a local area builder, and growing up, her parents bought and renovated three homes.  She loves seeing the potential in what might be done, and helping clients’ brainstorm ideas for renovations and upgrades.
A client from outside of Maine shared her experience of buying her home in Maine; “Debi Fox went above and beyond what I thought a broker would do.  She arranged and attended house inspections, helped me decide on future contrators, when I didn’t know anyone. The sale wouldn’t of happened without her.  There was no part of the process that I was disappointed with.”
 
Debi goes the extra mile to work with buyers and sellers, who find her open, honest, flexible and very detail oriented.  Now is a great time to list property, as inventory is low in Lincoln County. Debi can be contacted at Newcastle Realty’s office, 87 Main Street in Damariscotta and can also reached at 207-563-1003 or on her cell 207-350-1474. Her email address is debifox@cheneycompanies.com. To learn more about Newcastle Realty, please visit www.MyNewcastle.com.home.org.  

Waterfront Condo w/Boat Slip in Newcastle offered by Newcastle Realty!

Location, location, location …

at 75 Main Street, Unit #2, Newcastle.

Walk to downtown Damariscotta from this waterfront condominium complete with your own boat slip! This two bedroom, two bath, first floor home offers lovely views down river and a deck to view them! Sellers have added their own special touches to this already beautiful unit: gourmet kitchen with “Candlelight” custom cabinets, granite counters, walnut eating bar as well as stainless appliances. New tile floors in entry and kitchen-gleaming Norway pine in bedrooms and living room. Master suite has redesigned closet space as well as tiled bath with shower. You will find custom window shades in living, dining and master as well as newly installed air condition units throughout. The building itself is impressive with all propane heat, security and fire alarms, elevator and workout room on the lower level. Each owner will have 2 parking spaces- one in the garage and one outside.

Whether seasonal or year round, this condominium will allow carefree living in a waterfront setting!

MLS#1300952

2018 Year-to-Date Market and Sales Update *

Realtors across Maine report steady activity in most markets. According to Maine Listings, sales of single-family existing homes increased 0.21 percent comparing January 2018 to January 2017. The value of those homes, tracked statistically by the Median Sales Price (MSP), indicates a jump in home values of 5.26 percent to an MSP of $200,000 during that same time period. The MSP indicates that half of the homes were sold for more and half for less.

Now is a great time to list your property, because buyers are searching for homes in anticipation of spring. Realtors are reporting that multiple offer situations are common in areas that are at full employment. In Maine’s rural areas, buyers are more cautious, but they are finding great values. (Contact a Newcastle Realty broker today if you plan to buy or sell Maine real estate this year).

Nationwide sales have dipped 4.8 percent comparing January 2018 to January 2017. The National Association of Realtors today announced the national MSP in January was $241,700, an increase of 5.7 percent from January 2017. Regionally, sales in the Northeast declined 7.6 percent while the regional MSP of $269,100 represents a climb of 6.8 percent comparing January to January.

Newcastle Realty has had a very strong start to the 2018 selling season. As of February 22, 2018, our brokers have closed 17 transaction sides with a total volume of $5,571,301—a 47% increase over our same Y-T-D sales in 2017. Our current median sales price is $205,000. By comparison, Drum & Drum Real Estate has posted four sides for $1,062,000 in volume and a current MSP of $320,000, and Farrin Properties has sold $230,000 with three sides and an MSP of $75,000.

Most of the early 2018 property sales in the local area have occurred in Waldoboro (5), Jefferson (6), Wiscasset (4), Boothbay (11), and Bristol (6). Just a few sales have happened so far this year in Boothbay Harbor (3), Damariscotta (2), Edgecomb (2), Nobleboro (2), Bremen (2), Dresden (2), and Newcastle (2). Towns showing just one sale include Westport Island, Somerville, and Whitefield, and no 2018 sales have been posted yet in Alna, South Bristol, or Southport.

There are currently 325 single family homes for sale in Lincoln County (down from 360 last month), with 25 percent of those priced at or above $500,000. The 618 residential sales that have occurred in the past 365 days represent transactions in the range of under $100,000 (14%), $100,000-$249,999 (50%), $250,000-$499,999 (25%), $500,000-$999,999 (9%), and $1 million-plus (2%).

The current market absorption rates for Lincoln County homes is 2.5 months (under $100,000), 4.7 months ($100,000-$249,999), 8.3 months ($250,000-$499,999), 13.7 months ($500,000-$999,999), and 20.3 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 1/1/18 through 2/22/18.

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Newcastle Realty Enjoys a Strong Start to the 2018 Selling Season

In just the first seven weeks of 2018, the team of brokers at Newcastle Realty have already reached more than $5.5 million in real estate sales, according to Maine Real Estate Information System, Inc., more than any other firm in Lincoln County.

Company owner Dennis Hilton credits Newcastle Realty’s success to the energy, enthusiasm, and professionalism of his team of 14 brokers. He pointed out that Realtor Bill Byrnes is currently the #2 top producing agent in Lincoln County (based on a report generated on 2/20/2018), and another four Newcastle Realty agents are in the Top 20 (Dean Jacobs, Laura Blake, Debby Schling, and Debi Fox).

“The market is very busy right now,” says Hilton. With high demand and low inventory, Hilton urges anyone who is even contemplating selling this year to contact Newcastle Realty now to discuss options and strategies for marketing their property. “Don’t wait until everyone else decides to list their home for sale. By entering the market now, you have a limited opportunity to stand out from the crowd,” added Hilton. “We are showing properties every day, and helping to negotiate a number of purchase contracts right now.”

His team of professional brokers meet regularly to discuss the latest trends, and they utilize certain market data and metrics to offer the best advice and to get the best results for buyers and sellers. Visit www.MyNewcastle.com to learn more, or to request a copy of their latest Real Estate Market Report. Newcastle Realty is a locally-owned company located at 87 Main Street in Damariscotta. They can be reached at 207-563-1003.

Custom Contemporary on Pemaquid Lake offered by Newcastle Realty!

Relax in your spacious screened porch while viewing the nesting eagles and listening to the loons at… 15 Porcupine Ridge Road, Bremen.

Exceptional well crafted Pemaquid Lakefront home located on a large private lot with 200 feet of waterfront. This custom built home features many attractive amenities including chefs kitchen with large pantry, hardwood floors, radiant floor heat, and large heated workshop with private entrance. Just a short distance from your dock & float and a sandy beach available at the association waterfront nearby. Excellent rental history! MLS#1300952

 

Realtor Carmen Reed Brings Enthusiasm and Energy to the Newcastle Realty Team

A relatively new member to the Newcastle Realty team of professional real estate brokers, Carmen Reed’s enthusiasm and passion for helping people makes her a great fit with the firm. One of the things Carmen loves most about helping people buy and sell a home or land, is the process of getting to know
each person’s story and working through all the steps involved in making such an important life decision. 
 
Among her recent client experiences, Carmen has worked with a client who was wrestling with the difficult decision to sell a family home, another couple who were selling property to be closer to grandchildren, and others who are moving to this area from out of state. In each case, Carmen worked to develop a connection and commonality with her clients, helping them to navigate the real estate process. This variety and meeting interesting people is what excites Carmen about being in real estate.
 
Given the current market conditions of high buyer demand and a low supply of inventory, Carmen emphasizes how important it is to be informed and educated about the buying and selling process ahead of time. Being pre-qualified for financing is an important step that she can also assist with, so her clients are prepared to make an offer immediately to avoid losing out on a special property. 
 
Carmen chose to join Newcastle Realty because they are locally-owned and committed to supporting the surrounding communities. She recognized that company owner Dennis Hilton and his team of professional agents have created a number of cutting edge services to offer clients. Since joining the team, she has been encouraged to participate in local and regional Realtor organizations and has been exposed to numerous educational opportunities. She has been mentored by experienced agents and feels supported by the whole team of brokers at Newcastle Realty, which provides Carmen with a strong foundation in order to be successful in her role.
 
A native of Wiscasset, Carmen resides in Nobleboro with her husband Michael Prentice and their three sons, where they also operate Bayside Plumbing and Heating. Having previously served as executive director of the Damariscotta Region Chamber of Commerce, Reed has always loved being involved in her communities and sharing her passion for the local area with others. Along with being an advocate for her real estate clients’ interests, Carmen offers a wealth of personal knowledge that can help those new to the area with service providers, school system information, and ways to connect with others in the community.
 
Contact Carmen at Newcastle Realty’s office, 87 Main Street in Damariscotta at 207-563-1003, or on her mobile at 207-380-6613, or by email at carmenreed@cheneycompanies.com. To learn more about Newcastle Realty, please visit www.MyNewcastle.com.