Maine real estate market report, thinking of buying or selling your ME home?
This blog post jumps into what’s happening around Maine with property listing sales. All according to the Maine Listings MLS activity supplied and recorded black and white simple.
Here’s what’s shakin’ taking the pulse today in the Maine real estate market.
The beginning of 2021, in January there was close to a two month supply of housing to satisfy the real estate hunger.
This means if no new listings came on the market, the real estate pantry had enough supply to keep the MLS conveyor melt turning and churning for about 60 days.
By the end of 2021, the Maine real estate market report showed the supply of housing was closer to a 1.3 month absorption rate for inventory.
The supply of housing started out in January 2021 of a tad under 4,000 units.
Ended the year a whisker under 3,000 real estate listing units.
Sold days on market (DOM) for the same year of 2021 showed under 60 days to close in January.
About 38 days to from sale pending status to closed is what the numbers show by the end of 2021. Cash is king and out of state buyers with more of it to spend meant no bank mortgage financing costly delays.
More and more cash sales on Maine home purchases in the current Maine real estate market still happening.
Cash and carry means no need for the hurry up and wait for Maine real estate appraisers that are too low in number like the rest of the nation supply.
The Maine real estate market report shows house prices started out selling for around 96% of the listing price in January.
By June, houses were selling an average of 102% of the listing price. By December, everything cooled a tad but still a healthy 98% of the listed price for sold numbers.
The market listing sales of real estate in Maine was brisk and healthy two years ago.
Since COVID entered our day to day lives, the Maine real estate market kicked into warp drive busier. Like a MASH field hospital crazy in the real estate triage.
For a real estate buyer to get his offer taken serious, this kind of market means put on your big girl and big boy pants.
Keep it simple, aim high, even above listed price and forget trying to dicker wicked haaarddd. The folks that did the latter kept losing out on houses that others successfully put under contract.
It’s a seller’s Maine real estate market year round in Maine.
Folks in population centers around the country one by one decided we need to move. Somewhere with more elbow room. Hey, Maine seems spacious, lower cost, friendlier.
Let’s search for Maine real estate. And they did. The sales out paced new listing inventory and property prices hiked higher around the state to match the demand.
That’s your Maine real estate market report.
So if you are thinking of selling your home in Maine, know the market temperature to jump into the pool of available house listing inventory is just right. Come on in and list your home in Maine.
If you know what’s the next step for a roof over my head. For some heading into an apartment or assisted living, the selling your home in Maine is easy.
Clean it up, de-clutter, price it for the current market and turn up the Maine real estate marketing to full throttle.
You won’t have to wait long for a Maine real estate sale in today’s market. But the already renting, need to buy that first house Maine home buyer. Go fish. The lower priced housing stock has been ransacked and picked hard.
Ripped wicked haarrdddd reported like how Maine comedian Bob Marley talks.
Those DIY, handyman special homes are ones no bank wants to touch with a ten foot pole. The Maine banks making the home loans can’t sell them on the secondary mortgage market for the hit, make a profit, run.
When less homes on the Maine real estate market, that means price hikes.
To whatever the housing market will handle in supply and demand. And first time home buyers can not swing stepping out and buying new construction. Their debt ratios are too high and the left over income to scratch out a home mortgage payment too low on something sparkling brand new.
When new Maine homes are pricey thanks to a housing shortage and sky high material prices to build them.
If that’s all you have to work with, it Maine house buying a challenge. Maine land listings are plentiful. Buy 20, 30 or 40 acres so you can horse around on a small Maine farm. More space, a sky full of bright stars, no neighbors.
Buying Maine land and building has its appeal and you get exactly what you want.
With the right local tradesmen a reputable Maine real estate agent or broker helps you line up to do the job right. So the 7 lot Maine land subdivision like above may be the next new housing project you end up moving into if in no giant hurry to unpack. The video for Maine land house lots for sale.
So what do you when not enough homes for sale and a skimpy selection in a hot seller sided Maine real estate market?
Does not mean you have to couch surf. Or hunker down sleeping in your car parked in the Walmart parking lot. You do the best you can with the real estate market supply that exists and wade in. Or you wait and save, study the Maine real estate market. Wait for a bank reposession, a foreclosure property to jazz up and clear financing hurdles to pull off a house purchase.
Another option is buying a house in Maine with rental income, apartment units.
The place of your dreams, not really. Not the home where you stay until the hearse backs up and you take the last ride.
But something income generating. that you enjoy monthly rental fees from a hardworking Maine home purchase.
Get a roof over your head, lots of tax benefits, an income stream. All to help you make the eventual leap to your own Maine single family residence home down the road.
In many areas of the country, if you want a home, any piece of real estate starting out, it is buy with a multi unit apartment rental income.
Something producing extra income for a property home buying help.
Or it’s keep renting yourself and helping someone else make the mortgage payment.
Excuse me (whispering noise hush hushing, stopping) What’s that I heard in the audience muttered low?
Something about you would rather have a root canal or colonoscopy every day than step into the role of Maine real estate apartment unit landlord?
There are lots of good renters for your Maine multi unit or single family home with apartment.
You don’t hear about those down at the Piggly Wiggly or local corner coffee haunt. With renting, you need to ask lots of questions. To learn about the meth lab at the last two apartments the guy or gal on the other end of the phone line forgets to tell you about as one of the reasons for the deputy sheriff forced entry eviction.
More about renting a place as a landlord tips. Don’t rule out sneaking a peek at the multi unit housing rental properties or land just Maine land for building a slow cooked property.
Here is a link for rents in Houlton Maine area if you are on the prowl for a place to stay.
Folks needing to sell their old current house before buying a new replacement on in Maine. Often the timing is off and you need a bridge or temporary housing option. Thanks for stopping by. This Maine real estate market report hunt and peck is supposed to be a worthwhile read.
Hope this blog post helps anyone thinking of buying selling a ME home in today’s Maine real estate market.
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MOOERS REALTY 69 North ST Houlton ME 04730 USA