Here’s what’s happening in our Androscoggin County real estate market.
People ask me how the real estate market is doing quite a bit, and many people have recently noticed that homes are selling quickly and prices are increasing. According to Maine Listings, the average sales price has increased by 18.38% since this time last year, which is a huge number in just one year. That means, for example, that we’re seeing a $38,000 increase on a $200,000 house. Meanwhile, in Androscoggin County, prices rose by 19%.
This is all wonderful news for sellers because they’re getting more money for their properties, selling quicker, and are more easily negotiating for the terms they want. Plenty of sellers are getting more time to close and waived inspections.
"The average sales price has increased by 18.38% since this time last year."
On the flip side, it’s a bit more challenging for buyers right now because they’re facing multiple-offer situations, and some loan programs are making it more difficult to get the homes they want. However, there are strategies to work around that, and we’re sitting down with people to go over their goals and time frame, and creating a plan to buy the house of their dreams.
We’re glad to strategize with both buyers and sellers on how to navigate the current market. So if you need help selling or want to learn how to strategize to buy in this competitive market, just reach out via phone or email. We’d be happy to set up a time for us to meet. Let us be your real estate resource.