Yesterday, we posted that the Bath Real Estate Market held its own in July. The Brunswick Real Estate Market saw a similar pattern with both Current Listings (up 7) and Pending Sales (up 12!) higher than the June numbers, but Closed Sales (down 7) were fewer than in June.
Taking a look farther back and comparing July 2104 to July 2013, we note that year-over-year Current Inventory is actually higher (122 in 2013), Pending Sales are Higher (43 in 2013) and 20 Sales closed in July 2013, which all make it appear that the Brunswick Market is still on the up-swing.
But, when you look at the July 2013 Median Sales Price of $184,750 compared to July 2014 Median Sales Price of $258,950, please don’t think that prices have gone up 40% over the past year! We are seeing a difference in the type of property that is selling. Of the 24 closed sales in July 2014, 16 of those had sales prices over $200,000 – home buyers are snapping up the lovely homes in the neighborhoods surrounding Bowdoin College.
For those who are on the fence about buying a home, mortgage interest rates are still favorable, and there is still a nice inventory of lovely properties in Brunswick.
Contact us today if you have questions, or want to start the Home Buying or Home Selling process!