Helping to combat hunger in Lincoln County!

In the spirit of Community Giving, employees from Cheney Financial Group volunteered to help the Rotary and Lions Clubs of Damariscotta-Newcastle fight hunger in Lincoln County. One in seven persons is hungry in Lincoln County. The bell ringing season starts each November and runs through Christmas Eve. Volunteers are the difference between an empty kettle and one that raises enough to provide a family with groceries. All donations go directly to local Lincoln County Food Banks.

Cheney Financial Group, comprised of Newcastle Realty, Cheney Insurance and Newcastle Vacation Rentals, is committed to supporting our local communities and neighbors, in a variety of ways throughout the year, through an established Charitable Giving and Community Outreach Program.

 

December 2019 Real Estate Market Report

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

Statistics from November continue to reflect the up-and-down pattern for 2019. The reality is, even with November’s sales decline and the very tight supply of for-sale inventory, the number of homes sold during 2019 is at a statistical dead heat with 2018—Maine’s best year ever for residential real estate sales. The number of Maine homes for sale is 13 percent lower than a year ago, which impacts sales volume.

The National Association of Realtors reported a sales jump of 3.5 percent comparing November 2019 to November 2018; the national MSP rose 5.4 percent to $274,000 over that same time period. Sales in the Northeast decreased 1.4 percent while the regional MSP increased 3.9 percent to $301,700 comparing November 2019 to November 2018. We are expecting a strong winter market. Serious buyers are searching, and life transitions prompt the need to sell and buy homes year-round.

Newcastle Realty is wrapping up an excellent sales year. As of the date of this report, our brokers have closed 164 transaction sides with a total volume of $42,237,810—down slightly from our same Y-T-D numbers in 2018. In comparison, the local Sotheby’s office has booked $34,559,050 from 72 sides, and Drum and Drum Real Estate has sold $27,122,365 with 83 sides. We are pleased to remain the leading real estate firm in our area.

Most of the year-to-date 2019 property sales locally have occurred in Waldoboro (110), Boothbay (78), Wiscasset (78), Jefferson (80), Bristol (87), Boothbay Harbor (68), and Damariscotta (50). Slightly fewer sales have happened so far this year in Westport Island (19), Bremen (29), South Bristol (32), Dresden (25), Nobleboro (35), Edgecomb (20), Whitefield (30), Southport (20) and Newcastle (35). Towns seeing about a dozen or fewer sales include Alna (15) and Somerville (7).

There are currently 317 single-family homes for sale in Lincoln County (down from 380 last month), with 31 percent of those priced at or above $500,000. The 649 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 (31%), $500,000-$999,999 (10%), and $1 million-plus (2%).

The current market absorption rates for Lincoln County homes is 3.8 months (under $100,000), 3.4 months ($100,000-$249,999), 6.8 months ($250,000-$499,999), 13.1 months ($500,000-$999,999), and 31.0 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 12/24/19.

November 2019 Real Estate Market Report

The $224,900 median sales price of a single-family existing home in Maine in October 2019 was 4.6 percent higher than October 2018, according to data released by the Maine Association of Realtors. The MSP indicates that half of the homes were sold for more and half sold for less. Realtors also reported a record-breaking 1,845 sales for October—an increase of 0.71 percent compared to October 2018. Realtors across Maine report motivated and focused buyers searching for homes. Through October, the number of home sales statewide in 2019 has exceeded our best-ever (2018) by 0.8 percent.

The National Association of Realtors reported a 5.4 percent increase in single-family existing home sales on a national scale comparing October 2019 to October 2018. Prices jumped 6.2 percent to a national MSP of $273,600. Regionally, sales in the Northeast remained flat while prices rose 5.7 percent to $296,700, comparing October 2019 to October 2018. Sales volume remains steady. Median prices trending upward in some markets are indicative of tight for-sale inventory levels and the sustained historically low, and affordable, mortgage interest rates.

Newcastle Realty continues to enjoy a very good sales year. As of the date of this report, our brokers have closed 140 transaction sides with a total volume of $33,751,410—down slightly from our same Y-T-D numbers in 2018. In comparison, the local Sotheby’s office has booked $25,424,545 from 63 sides, and Drum and Drum Real Estate has sold $20,130,050 with 75 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 (102), Boothbay (71), Wiscasset (63), Jefferson (72), Bristol (77), Boothbay Harbor (63), and Damariscotta (48). Slightly fewer sales have happened so far this year in Westport Island (18), Bremen (22), South Bristol (28), Dresden (23), Nobleboro (28), Edgecomb (17), Whitefield (27), Southport (19) and Newcastle (29). Towns seeing about a dozen or fewer sales include Alna (14) and Somerville (7).

There are currently 380 single-family homes for sale in Lincoln County (down from 403 last month), with 30 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 (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 5.1 months (under $100,000), 3.2 months ($100,000-$249,999), 7.4 months ($250,000-$499,999), 16.6 months ($500,000-$999,999), and 38.7 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 11/21/19.

October 2019 Real Estate Market Report

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

September 2019 was a record-breaker with 1,866 sales statewide. Buyers are in the market and taking action. After a down-and-up year of real estate activity, a strong September has brought the total sales volume to 0.8 percent ahead of 2018—Maine’s best year.

Nationally, sales of single-family existing homes rose 3.9 percent comparing September 2019 to September 2018. According to the National Association of Realtors, the MSP for those homes increased 6.1 percent to $257,100. Regional sales in the Northeast are up 1.5 percent, and the regional MSP jumped 5.2 percent to $301,100 comparing September 2019 to September 2018.

Newcastle Realty continues to enjoy a very good sales year. As of the date of this report, our brokers have closed 126 transaction sides with a total volume of $30,621,435—down slightly from our same Y-T-D numbers in 2018. In comparison, the local Sotheby’s office has booked $24,501,620 from 60 sides, and Drum and Drum Real Estate has sold $16,498,050 with 63 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 (89), Boothbay (63), Wiscasset (56), Jefferson (61), Bristol (68), Boothbay Harbor (54), and Damariscotta (41). Slightly fewer sales have happened so far this year in Westport Island (17), Bremen (18), South Bristol (23), Dresden (18), Nobleboro (22), Edgecomb (16), Whitefield (22), Southport (18) and Newcastle (27). Towns seeing about a dozen or fewer sales include Alna (13) and Somerville (7).

There are currently 403 single-family homes for sale in Lincoln County (down from 445 last month), with 31 percent of those priced at or above $500,000. The 638 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 4.0 months (under $100,000), 5.0 months ($100,000-$249,999), 7.9 months ($250,000-$499,999), 18.3 months ($500,000-$999,999), and 35.6 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 10/22/19.

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.