Kittery Maine, Eliot Maine, York Maine - Real Estate Market Recap for Oct - Dec 2008
The Seacoast areas of Maine and New Hampshire real estate markets have been up and down over 2008, with some towns being a little more positive than the previous year. And as with all things, some towns fared better than others, both in New Hampshire and in Maine coastal towns.
Everyone knows someone who's thinking about buying and/or selling real estate, and it's very difficult to try to time the real estate market, no matter where you are. Properties are selling, and those homes and condos that have sold have been priced properly for the market and for the condition of the condo or home.
Setting the correct price for homes and condos is so crucial in a market like the one we're in, and have been in. Buyers are internet-empowered, and they search for real estate and information on-line, many times long before they actually begin to work with an agent to see properties. If your home or condo isn't perceived to be a good value when it's being viewed on-line, you rarely get a chance for those buyers to come see it in person because they've already ruled it out.
Another key component to getting your property sold is the exposure Maine or New Hampshire homes get. The overwhelming number of buyers who begin their search on-line make it vital for you to choose an agent who understands that and utilizes the power of the internet. Buyers come from all over the world, and because of that, Maine homes or condos need that same kind of on-line exposure. Make sure the Maine REALTOR you're considering hiring to represent you and your property as a strong on-line presence. If they do, then they likely understand and use the internet to get the job done for their clients.
For those interested in keeping tabs on the real estate markets in the southeastern Maine towns of Kittery Maine, Eliot Maine, and York Maine, here is the real estate market update for the last quarter of 2008, broken down by town:
Eliot Maine Real Estate - Eliot ME Homes Update - Oct. 1, 2008 - Dec. 31, 2008
13 Eliot homes sold during the last quarter of 2008
Sold prices ranged from $158,000 to $570,000
Asking prices ranged from $179,000 to $615,000
Average days on the market - 163 days
Average list to sell ratio - 95%
51 Eliot Maine homes are currently for sale
Asking prices range from $185,000 to $3,500,000
Average days on market - 200 days
Average asking price $588,489
17 homes expired during the 4th quarter without selling.
Kittery Maine Real Estate - Kittery ME Homes Market Update - Oct. 1, 2008 - Dec. 31, 2008
39 Kittery Maine homes sold during the last quarter of 2008
Sold prices ranged from $95,000 to $674,000
Asking prices ranged from $124,900 to $674,000
Average days on the market - 175 days
Average list to sell ratio - 86%
94 Kittery homes are currently for sale
Asking prices range from $154,900 to $5,295,000
Average days on the market - 229 days
Average asking price - $763,122
22 Kittery homes expired from the market during this time period without selling
York Maine Real Estate - York ME Homes Market Update - Oct. 1, 2008 - Dec. 31, 2008
33 York ME homes sold
Sold prices ranged from $150,000 to $825,000
Asking prices ranged from $149,900 to $1,049,000
Average days on the market - 168 days
Average list to sell ratio - 92%
246 York Maine homes currently for sale
Asking prices range from $127,900 to $3,895,000
Average days on the market - 244 days
Average asking price - $788,812
53 York homes expired from the market during this time frame wtihout selling.
If you're thinking about buying or selling real estate in the southern Maine Seacoast towns - Eliot, York, Kittery, South Berwick - Send me an email or give me a call (1-888-349-5678 x 3839), and let's see how I can be of help to you with your real estate goals!
Related Reading:
Seacoast NH and Maine Real Estate Market Reports
Seacoast NH and Maine Real Estate Market Reports
Absorption Rates and Why They're Important to Know
Servicing the New Hampshire towns of Portsmouth, Newcastle, Rye, North Hampton, Hampton, Stratham, Exeter, Greenland, Newington, Dover, Durham and surrounding areas, and the Maine towns of Kittery, Kittery Point, Eliot, South Berwick, York, and surrounding areas.
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Let me put my years of experience here in the coastal areas of NH & southern Maine to work for YOU! Servicing the greater Portsmouth, Hampton, Exeter, Dover, NH areas & the southern tip of Maine.
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Ann,
That't an interesting looking library building. Localism post fodder?
Mike in Tucson
Hi Ann! Great information on your market--realistic view with the facts, which seem to be overlooked in mainstream media! HA! Your photos are just beautiful and you do live in a breathtakingly gorgeous area.
I like reading your market reports Ann as this area is near and dear to my heart. I can't wait for Summer!
Ann the market report was very well done, but the part that rings most in my ear is this statement that you made "The overwhelming number of buyers who begin their search on-line make it vital for you to choose an agent who understands that and utilizes the power of the internet." So true, so very true.
Hi Mike - could be! It is a really beautiful building when you see it in person. I love the old brick buildings with character that we have up here, and this is a great example of them.
Hi Debe - it really is a pretty area here for sure! My pictures just barely begin to capture the essence of what living here is all about.
Hey Bill - summer will be here soon, I hope! And speaking of that, we'll have to have a little AR get-together this summer.
Hey George - I like that statement, too. And it's so important for maximum exposure.
Thanks for the comments!
Ann
Ann: I find everyone's market reports interesting but yours are special to me because your pictures make me think of Ogunquit which is literally my husband and my favorite place in the whole world!
Are the DOM and asking prices about the same in Ogunquit? Happy New Year...you certainly deserve it after your loss. Even without having ever met you I can feel your strength.
Hi Diana - thank you for that very nice complimen on my reports. The numbers for Ogunquit are pretty much in line with these towns. Ogunquit is a really beautiful area, just a few minutes north of me.
Thank you for your comment on the new year - I really appreciate that.
Ann