Real Estate thru August Looks Good!
Camden Hills Realty follows the sales activity in Knox and Waldo Counties with the simple thought in mind that like politics, all real estate is local.
Year to date, through August, there have been 85 more properties sold in Knox and Waldo Counties this year over last. Almost 700 properties have changed hands. It represents an increase in revenues of 10%. The average transaction sits just over $200,000 running flat to the previous year. Single family homes represented about 70% of the transactions.
The statistics provided by the Maine Association of Realtors reports a healthy 35% increase in single family units sold in Knox and Waldo Counties, May thru July 2013 over 2012. Knox County had 140 sales and Waldo 103 sales during the reporting period. It translates to 2.7 sales per day between the two counties. The reporting also confirms prices holding close year to year.
Taking a rough cut at the mix of business … 72% of the sales fell under $250,000. Another 20% of the sales were in the $250,000 to $500,000 range. Four (4%) fell between $500,000 and $750,000 and 3% were over $750,000… The numbers point to a solid local market with a developing mix of retirement, recreational and discretionary buyers looking to our area.
“There is developing confidence in the housing market nationally which is beginning to translate to Maine. Buyers sense that pricing and values have stabilized. Sellers are seeing renewed interest and demand. Both see opportunity,” commented John Burgess, owner of Camden Hills Realty. The positive trends are expected to continue.