Real Estate... “Flat is Good”
Camden Hills Realty reports that real estate activity through the 1st quarter is flat to last year. Flat is good!
The numbers reflect continued stability and confidence in the market which is a big improvement from years past.
We say “flat is good” because we have just gone through a brutally cold winter where buyers and sellers went into semi-hibernation while wrestling with the pressure of tighter credit standards.
Looking forward, both factors have created some pent up demand. Spring should bring the sunshine and warm up the real estate market to new highs.
Currently there are about 25,000 homes listed for sale in Maine. Knox County and Waldo County each have an inventory of about 1000 homes listed for sale of which 7% are currently under contract. The trends are positive pointing to a good selling season where inventory will increase by another 20%. The time to list is now…
In no special order, here are a few interesting Maine statewide trends gleaned from 2013 as reported by the National Association of Realtors.
*42% of the activity was 1st time home buyers
*In 14% of home sales there was some multigenerational component
*61% of buyers were married
*4% of the buyers over the age of 50 purchased in senior related housing
*Energy costs are definitely a growing consideration
*Typical buyer starts the process on line
*Buyers will physically view 10-12 homes over a 10 to 12 week period
*89% will use a real estate agent in the process
If you have questions about real estate (buying or selling) please feel free to contact John Burgess, Owner at Camden Hills Realty. He loves the subject and the idea of helping people move on… no pun intended.
At Camden Hills Realty, our signs are ready for spring planting!
A shop local agency!