Sales of single-family homes in York County rose more than 18 percent in 2013 over the previous year, eclipsing the 13.6 percent statewide increase, according to statistics released Thursday by the Maine Association of Realtors.
Realtors from Sanford to Kennebunkport said they’re busy showing properties, even in cold, snowy January.
“Interest rates are still low,” said Kennebunk Beach Realty broker Marissa Gagne. The agency, owned by Gail Arnold, the association’s 2013 Realtor of the Year, markets both coastal and in-town properties in the Kennebunks and Arundel.
“We’re seeing a lot of movement in the market recently,” said Gagne. “We’re busy every day.”
Gagne said the agency sold 200 housing units in 2013 and is doing a brisk business in rentals as well.
At Town Square Realty in Sanford, co-owner Steve Cabana said inventories of single-family homes are much lower than they have been in recent years. The firm sells property in Sanford and the surrounding communities.
“It’s a good sign people are buying,” Cabana said, adding the agency is also seeing more activity with listings in the $180,000 to $225,000 price point. And while it’s not the norm, there have been instances where homes have been placed under contract after being on the market for fewer than two weeks, he said.
According to the Maine Association of Realtors, 13,088 homes changed hands statewide during 2013, and 2,287 of them sold in York County, up from 1,929 in 2012.
The statewide yearly median sales price increased 2.94 percent to $175,000. The median sales price indicates half of the homes were sold for more and half sold for less. In York County, the median price went up 2.33 percent, to $220,000.
“I’m of the belief we have buyer and seller markets and I believe we’re in a neutral market at this point,” said Cabana.
During the recession, the buyer was driving the transaction, and during the boom, the seller was in the driver’s seat. Cabana said in this neutral market, he’s observing that both sides are willing to compromise, if needs be.
“Last year started out very strong, with buyers hoping to take advantage of historically low interest rates. With low inventory levels, homes that were priced right sold very quickly,” said Maine Association of Realtors president Angelia Levesque, a real estate agent with Better Homes and Gardens Real Estate/ The Masiello Group in Bangor. “This renewed interest sparked multiple offer situations in certain markets and helped increase home prices. Sellers heard of this activity and started listing their homes.”
“We are currently seeing more first-time homebuyer activity and a bit of an inventory shortage in the entry-level price range,” said Levesque. “I have spoken with Realtors from all over the state this week and they believe we are off to a good start in 2014; they are fielding calls from sellers interested in marketing for spring.”
— Senior Staff Writer Tammy Wells can be contacted at 324-4444 (local call in Sanford) or 282-1535, ext. 327 or twells@journaltribune.com.
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