Below you will see current listing, pending and September 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.
September numbers in all 3 towns look like a re-run of the good numbers that were posted in August. The number of Pending Sales bodes well for continued strong sales through the fall real estate market.
Obviously, if the disruption that is occurring in Washington continues for an extended period, it will take a toll on the real estate market. The shutdown has an effect on mortgages and we are especially expecting issues for buyers who are under contract and waiting for USDA Rural Development loan funding approval. VA and FHA loans will be less affected. For the short term, we are thinking in terms of delays, rather than terminated contracts. But, if we get to the debt ceiling debate and run into similar disagreement in Congress, all bets are off.
At Maine Home Realty, we have noticed a bit of an “earlier than anticipated” slow-down in buyer traffic in the past week or so – not sure if it everyone is out enjoying the beautiful fall weather, or if the governmental uncertainty is having an impact, but we will certainly see how (if) that is reflected in the coming months’ sales figures.
If you are considering a land purchase (and more people are these days!), Autumn is a great time to view these properties – vegetation is down and so are the bugs! We have a number of excellent land listings you may want to check out, including a new one in Brunswick!