Brighter signs for local real estate market
In the middle of a cold Maine winter, the real estate market is heating up. Maine home sales jumped 8.58 percent and sale prices are up by 2.78 percent from January 2013 to January 2014.
The Maine Association of Realtors reported an increased number of pending sales that was a “good sign that we'll have a strong spring market,” according to the association's president, Angelia Levesque.
While pockets in southern Maine are reporting a healthy boon in home sales, Karen Roberts, a local real estate agent, said she foresees a “transition marketplace,” for Lincoln County in 2014.
“There are more people getting back into the market and they're feeling a little bit more secure, but they're still looking for deals, and they're looking for things that don't need a lot of work,” Roberts said.
Interests rates for home buyers are still hovering at low 4.5 percent, while the statewide median sales price increased by 2.78 percent, which is good news people looking to buy or sell a home.
“We're going to see buyers that want to buy at discounted prices, and we're going to see sellers hearing encouraging news in the marketplace and putting their houses back on the market,” Roberts said.
From 2012 to 2013, Lincoln County saw an increase of 19.72 percent in home sales, but Roberts said it's still too early to predict how 2014 will turnout. While real estate markets in southern Maine continue to pick up steam, Roberts said any substantial growth in little seasonal communities takes longer to happen, but there are definitely encouraging signs, she said.
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