Topsham, Maine – August 2014 Real Estate Market Report

With the Labor Day Holiday weekend behind us, the Topsham Real Estate Market finished the last unofficial month of summer in the same steady manner in which it has been progressing for most of this year.

Compared to Topsham’s July numbers, Current Listings have decreased by 4 to 65, the number of Pending Home Sales increased from 18 to 21, and 9 Topsham Home Sales closed in August, compared to 15 sales in July, so down a bit.  But Topsham is the only one of the 3 area towns (Bath, Brunswick, Topsham) that saw an increase in under contract sales in August.

We also notice that average days on market are down (from 98 to 79) but median days on market jumped from 11 to 56.  And, the average sales price to list price ratio in Topsham is up to 99% for August.  

For something different this month, we thought it might be interesting to look at where Topsham home buyers are coming from.  The MLS captures this in a field, “Buyer’s previous zip code” within the sold data.  Of the  9 Topsham home sales that closed in August,  7 of those new owners were Mainers!  So, 78% were already in Maine, but only one already lived in Topsham.  1 was from Brunswick and the rest came mostly from other towns in the Mid-Coast Region.   The 2 out-of-state buyers had previous zip codes from Tennessee and Florida.  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 Topsham offers a variety of options.

Contact us today if you have questions, or want to start the Home Buying or Home Selling process! 

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