February 2014 Market Report for Bath, Brunswick, Topsham

Below you will see current listing, pending and February 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.

In Bath, Brunswick and Topsham, we are approaching spring with housing inventories stuck in winter mode – probably because our temperatures feel more like January than early March!  This weekend, we “Spring Forward” on our clocks, and the weather folk are predicting warmer temps, too.  If all the piled-up snow would just disappear (as we know it will eventually), we’ll be all set for a big parade of buyers.

    We took some time to look at median price trends and sales volume numbers over the past 14 months – from January of 2013 thru February 2014 – and we found:

    • Bath – The median sold price climbed nicely during 2013 to a peak of $204,000 in November, remaining just below that in December and dropping off again in 2014.  Of the 3 towns we track, Bath consistently logs the lowest median sold prices.  We believe this is indicative of the age of the housing stock and the number of distressed property sales, but there is also excellent value to be found in Bath.
    • Brunswick – The median sold price is consistently higher in Brunswick than Bath or Topsham, and the range of fluctuation from month-to-month is the least extreme of the 3 towns.  Median sold price, in Brunswick, reached its peak in January of 2014 at $250,000.  We expect Brunswick to remain the strongest market for Sellers as Buyers find a number of its neighborhoods very desirable.
    • Topsham – Median sold prices in Topsham consistently represent the middle ground between Bath and Brunswick, but did exceed Brunswick with a peak median sold price of $265,520 in February of 2013 and again hitting the high-note for February 2014 with a sold median price of $190,000 vs. $88,478 for Bath and $178,956 for Brunswick.  Topsham offers a nice mix of neighborhood and rural housing options.

And, something else we haven’t seen much, in a long time, is new construction for sale.  Recently, we’ve previewed new home construction at Broker Open Houses for 2 different Topsham developments – Oak Hill (townhomes) and Mallett Woods (detached single family homes).  There is something very appealing about purchasing a new home – it offers a buyer the opportunity to customize floor plans and finishes and it’s all fresh, new and never-been-lived-in by anyone else. 

    If you think a brand new home might be for you, give us a call and we’ll help you investigate this option!

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