Finally, the City of Bath had its first taste of Spring this week with temperatures rising into the 40’s . . . for one day! It will take many more days like that to melt away all this snow. February is usually when we see our lowest inventory levels of the year, but not so in Bath. Homes for sale are beginning to trickle onto the market, which is good because Buyers could use a few more quality homes from which to choose, especially in the $125,000 to $175,000 range.
February ended with 74 Current Listings (up 2 from January), 13 Pending Sales (same as January and December, too!), and 6 Closed Sales in February (up 3 from January). Of note is that Average Sales Price to List Price Ratio dropped from 97% in January to 91% in February.
Average price per square foot for homes sold in Bath in February was $89.30, compared to $95.19/sf in Topsham and $115.21/sf in Brunswick. Good value can be found in Bath properties for those who appreciate the historic charm and walkability of the city.
Keep in mind that sales which closed in February were most likely put under contract in December or January. The really horrible weather hit our area in February, so we’d expect March and April sales numbers to be impacted.
If you plan to buy or sell a home in Bath, call Maine Home Realty today!