The Goff Report – York County, Maine, March 2018

Local Market Update for York County, Maine

First quarter numbers are in! Median sales price saw an improvement of 12.45% in the first quarter compared to a year ago! The number of new listings lagged behind 2017’s numbers by 9.43%, limiting the supply of homes for sale, and driving up the demand. The limited inventory is becoming an issue for buyers this year, as it was in 2017, driving prices up and continuing the seller’s market. With interest rates rising, limiting buying power, will this continue? Time will tell…

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First Quarter Update

York County, Maine

January 2018 – March 2018

January 2017 – March 2017

% Change Year-Over-Year

Number of Sales

558

534

4.49%

Median Sale Price

$275,500

$245,000

12.45%

Median Days on the Market

41

44

-6.82%

Number of New Listings

758

838

-9.43%

Number of Sales: The number of properties sold.

Median Sales Price: The midway final price of all properties sold. Half sold for more, half sold for less.

Median Days on the Market: The midway point of days between a listing going on the market and accepting an offer. Half were on the market longer; half were on the market for less time.

Number of New Listings New home listings during the month(s) specified.

Note: Sales were compiled on April 4, 2018, from Maine MLS data from sales of single family homes.

Data based on information from the Maine Real Estate Information System, Inc. (d/b/a Maine Listings) for the period January 1, 2017 through March 31, 2017 and January 1, 2018 through March 31, 2018.

Posted on April 5, 2018 at 10:19 AM
Derek Goff | Category: The Goff Report, York County | Tagged , , , , , , ,

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