Even though it’s colder than the delicious frozen treats at Gelato Fiasco on Brunswick’s Maine Street, the Brunswick real estate market looks like it’s heating up to begin the year!
2015 home sales are showing strong out of the gate in January!
Brunswick will be the market to watch again in 2015!
January ended with just 89 Current Listings, down 8 from the end of December, and setting a new low inventory level below anything we saw for Brunswick in 2014. January ended with 27 Pending Sales (6 fewer than December) and 25 Closed Sales in January (up 4 over December)!
Average days on market dropped back down to 59 and Sales Price to List Price ratio is holding pretty steady at 96%.
The laws of Supply and Demand would dictate that a low supply in the face of continued strong demand will drive prices to higher levels. Anticipated higher prices may open the door for home owners who have been waiting to put homes on the market (because they bought when the market was higher). Price increases will, conversely, reduce the purchasing power of Buyers in Brunswick.
We fully expect that Spring will bring inventories up to meet demand, along with increasing prices IF the competition heats up. But, in the midst of the piles of snow and the cold, purchasing power is good right now, with less competition for properties, and continued low mortgage interest rates.
If you are thinking about buying or selling a home in Brunswick, don’t wait! Give Maine Home Realty a call today!