Bath, Maine – February 2016 Real Estate Market Report

Bath Iron Works, Bath ME 04530After the mildest winter we can remember, today we wait to see what kind of snow we will see from a storm predicted for tomorrow, the first full day of Spring.  Good grief!  As to the Bath Real Estate Market, we aren’t seeing any storms blowing in, and Bath’s Current Inventory, Pending Sales, and Closed Sales are very much a repeat of the volume numbers we saw in January.  We also note that, on average prices in all three categories ticked up a smidge from January to February.

February Current Inventory increased by just one over last month!  A bit of a surprise considering the mild weather made it feel like there were more listings coming on the market.  But Pending and Closed volumes held pretty steady, so the net result was little change.

February ended with 57 Current Listings (up 1 from January), so hopefully Spring’s arrival will motivate Sellers to put their properties on the market sooner rather than later to boost Buyer options! There were 20 Pending Sales (down 1 from January), and 13 Closed Sales in February (up 1 from January).   Average Sales Price to List Price Ratio came in at a 102% for February, up 3 points from the prior month, but this stat is driven by one sale that closed for 190% of its list price – it was a bank owned Pine Hill condo listed at $24,999 that sold for $47,500.  If we remove that sale from the calculation, Sales Price to List Price ratio normalizes at 95%.

If you plan to buy or sell a home in Bath, call Maine Home Realty today!

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