Looking back in the rear-view mirror after the Labor Day Holiday weekend, the Bath Real Estate Market finished the last unofficial month of summer on a steady note.
Compared to Bath’s July numbers, Current Listings have increased by just 1 to 98, the number of Pending Home Sales decreased by 4 to 19, perhaps setting us up for weaker September sales? And 13 Home Sales closed in July, compared to 9 sales in June.
We also notice that average (102 vs. 60 in July) and median (90 vs. 61 in July) days on market are heading in the wrong direction, which we would not have expected in August. And, the average sales price to list price ratio has dropped to 93%.
For something different this month, we thought it might be interesting to look at where Bath home buyers are coming from. The MLS captures this in a field, “Buyer’s previous zip code” within the sold data. Of the 13 home sales that closed in August in Bath, 10 of those new owners were Mainers! So, 77% were already in Maine but, 60% of those 10 already lived in the 04530 zip code (Bath, Arrowsic, West Bath)! 3 were from Brunswick and 1 from Portland. The remaining 3 buyers previously had zip codes from Kentucky, Seattle and one was a Military FPO. Very interesting, indeed!
Traditionally, Autumn is a strong home selling season in Maine and it certainly is a beautiful time to be out and about, whether you are looking for a new home or not!
For those who are still on the fence about buying a home, mortgage interest rates remain highly favorable, and there are great values to be found in Bath homes.
Contact us today if you have questions, or want to start the Home Buying or Home Selling process!