Real Estate … Wrapping up 2013
2013 was a good year… Locally, there were continuing signs of improvement across the board. The caution would be not to rely on what you read or hear relative to the national trends. Maine tends to lag behind and follow the developing trends.
The analysis to follow was compiled by Camden Hills Realty from various sources. There is varying degrees of reliability. The goal is to point to the local trends as presented by the Maine Real Estate Information System and other sources. Buying or selling, we trust you will find the information helpful.
Camden Hills has focused their reporting on Knox and Waldo Counties. We saw about 820 single family homes change hands. That was an increase of 14% over the previous year. In the best years, that number would be 1000. It’s not big volume when compared to other markets but the arrow is pointing in the right direction.
The median sales price for single family homes was flat hovering around $165,000 with 120 agencies reporting results. The median reflects the mix of business which has been consistent year to year. We believe it reflects a market that still leans to local to local sales. Our buyers “from away” (second homes and retirement) is still developing. We also see buyers and sellers on a more equal footing.
In coastal hubs; Camden saw 89 sales in 2013 compared to 95 in 2012. Rockport enjoyed 72 transactions an increase of 10 over 2012. Belfast saw 84 transactions verses 77 in 2012. Rockland captured the biggest gains with 106 sales compared to 71 in 2012. If you would like more information about your individual community, contact John Burgess at firstname.lastname@example.org
As an aside, like politics, all real estate is local. Nothing points to nationally franchised companies being significantly more effective than local independents. And technology has leveled the playing field between large and small firms. It is often the agent, not the agency that makes the difference. Keep this point in mind when considering listing your home. Camden Hills recommends interviewing several agents before making your decision. We'd like to be in the mix.
We look forward to reporting activity throughout the New Year. We expect 2014 to be another year of modest upward trending. If you have questions about buying or selling contact Camden Hills Realty to review of your options. Real estate starts with a conversation.