Last Friday, statistics were released indicating that the number of sales and the median sale price once again dropped in Cumberland County. There were 602 sales for the rolling quarter of this March, April, and May, compared with 779 sales last March, April, and May (-22.72%). The median price also dropped from $245,500 to $233,688 (-4.81%).
However, interest rates have been seeing a slow but steady increase, which most lenders are predicting will continue. With prices low and interest rates low but rising, many buyers are realizing that we are in the middle of a perfect storm for affordable homeownership, and it might not last much longer.
I provide real estate services in the Greater Portland area, working with both buyers and sellers. My goal is to help my clients make wise decisions and easy transitions.
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I think your numbers mirror a lot of the country... and I am thinking it is pointing towards a buying opportunity.
I clicked on this as I work Cumberland County!! North Carolina, lol. As Robert stated above, this is a great buying opportunity. Cumberland County anywhere. :)