The most often-asked question we get as REALTORS® is, “How’s the market?” So, here is Maine Home Realty’s 2015 Real Estate Market Wrap-Up Report to tell you! The 2015 report shows data for Bath, Brunswick and Topsham, the largest towns in Maine Home Realty’s territory. The 2014 data is also provided for comparison.
The table above provides a summary of all homes that Sold in Bath, Brunswick and Topsham during 2015. We note the following year-over-year developments:
- Brunswick & Topsham saw an increase in unit sales; Bath sales declined
- Bath & Topsham saw increases in Median Price; Brunswick decreased
- All towns saw a decrease in Average Days on Market
Comparing 2015 sales data to 2014, Bath saw 8 fewer units sold in 2015 (a decrease of almost 6%), but Median Sales Price leapt from $138,000 to $160,000, an increase of almost 16%! Homes at higher price points were selling in 2015, with the highest sales price fetched for York Hall, an historic mansion on Washington Street, which closed for $750,000. Other good signs are that Average Days on Market decreased slightly and Average Sales Price to List Price Ratio increased to 97% indicating Sellers got “more real” about property values.
Brunswick continues to be the hot market in our area – Sales in 2015 increased by 46 units (about 17%) over the prior year, but Median Sales Price dipped 5%. We note the continued high demand for Brunswick homes in the under $200,000 range, which accounted for 164 units, or 52%, of total sales. The highest sales price was $1,025,000 for 42-acre estate with 2600′ of waterfront on Maquoit Bay. Average Days on Market decreased and Sales Price to List Price Ratio held steady at 98%.
Topsham 2015 home sales continued on a steady pace with 124 Units Sold, which was unchanged from 2014. Topsham may have seen increased sales in 2015 if more units had been put on the market, but we will never know for sure. Compared to Bath and Brunswick, the highest priced sale in Topsham was a rather modest $418,000 – This was for a 2014 farmhouse with 4 bedroom, 2.5 bathrooms and 1.54 acres. Average Days on Market decreased from 96 days in 2014 to only 74 days in 2015. Sales Price to List Price Ratio ticked up 3 points to 99%. So, Topsham Sellers pretty much got what they were asking.
We publish our market reports to help our interested readers observe local real estate market activity, direction and strength over time. We have been told that Maine Home Realty’s website is the best source of hyper-local real estate sales information.
Best Wishes to All of You for a Terrific 2016!