The Chart below shows Current (active) Listings, Pending (under contract) Sales and May Home Sales data for the City of Bath and Towns of Brunswick and Topsham, which are the major towns in Maine Home Realty’s Market Area.
May was pretty much of a re-run of April for Bath home sales – numbers of current, pending and sold homes remained steady, but the median sales price decreased significantly from $160,000 in April to $130,000 in May; and it took longer to achieve those sales as average and median days on market are both up slightly in May.
During May, the Brunswick residential real estate market continued the pace set by its April market surge! There are 45 Brunswick homes under contract and 28 closed sales in May, but curiously, we also saw a slight dip in median sales price when compared to April.
Topsham saw gains in pending sales and closed sales, too. But here, there was a corresponding increase in the median sales price and a significant reduction in the days on market which averaged 154 in April, but only 41 in May.
In all three towns, current listing levels are holding fairly steady, with new inventory pretty much just replacing what has gone under contract and sold.
If you are ready to buy or sell a home, or if you’d just like to know how things are shaping up in your neighborhood, contact us today!