Seasonal Report
York Harbor, Maine
A glimpse of spring along the York River in York Harbor, Maine
Wednesday May 7, 2008
Another Spring Update
Well, it’s finally here…Spring in southern Maine. After what seemed to be an endless winter (fabulous for all you winter sports enthusiasts!), we are embracing all those welcome signs of Spring: lawnmowers, Little League games, trees and flowers ready to bloom, Red Sox fever, and of course the infamous Spring real estate market!
For anyone with skepticism, that due to the barrage of negative economic news, we would not experience our usual “spring real estate market,” well, it’s here! Activity among buyers seemed to pick up significantly by the beginning of March. Although inventory in York over this winter was lower than in years past, a new selection of homes in all prices ranges is now available…good news for buyers that have been researching properties over the past several months.
A surge in properties under contract since April 1st is very reassuring that yes, buyers are making decision on home purchases. Why not take advantage of the continued low interest rates still hovering in the 6% range? These low interest rates are such a huge benefit, especially for first time home buyers. Just ask any first time home buyer that locked in an interest rate 20 years ago well into the double-digits. (I thought the 11.75% rate was a deal compared to the 13% average when I originally started looking to buy my first home!) Motivated sellers, low interest rates, decent inventory…sounds like a great time to buy!
Some current statistics for York Maine from MREIS (the Maine Multiple Listing Service):
March 7 - May 7, 2008
225 Single family homes currently on the market.Median list price: $489,900Average days on the market: 147
24 Sales of single family homesMedian sales price: $421,104Average days on market: 14794% average list to selling price
33 Pending Sales of single family homesMedian list price: $374,900Average days on market: 158
What a fantastic time to visit the seacoast and explore the possibility of a vacation or investment home or relocating permanently to the region. Most seasonal businesses that close for the winter months are opening their doors this month, so restaurants, ice cream shops, and local visitor attractions are excited and ready for the season! The beaches have a serene quality this time of year and I highly recommend a nice long walk along the York River (The Fisherman's Walk - see photo above) - does wonders for the soul! It’s also a great time for walking/hiking at: state parks (Fort Foster, Rachel Carson Reserve), Mount Agamenticus, the Cliff Walk. Information on these special places can be found through the local Chambers of Commerce.
Enjoy, Cindy
View past seasonal reports.
