Thinking about warmer days ahead and wanting to rush the season as the crocus are still the only things in bloom here in Maine, the Topsham Real Estate Market trudged onward through February with minimal inventory, but strong Pending Sales, nevertheless. Just like its neighbor over the river, Topsham is suffering from a lack of available homes from which Buyers may choose.
February ended with 31 Current Listings (down 7 from January), 23 Pending Sales (up 4 from January), and 8 Closed Sales in February (down 1 from January). Average Sales Price to List Price Ratio went down a couple points to 96%.
If you compare February 2016 with February 2015 in Topsham, this is what you see:
- February 2016 Current Listings – 31 vs. 40 in February 2015
- February 2016 Pending Sales – 23 vs. 14 in February 2015
- February 2016 Sales – 8 vs. 6 in February 2015
- February 2016 Median Sales Price – $266,000 vs. $151,000 in February 2015
With current inventory tight in both Topsham and Brunswick, smart Buyers are not waiting for the Spring Real Estate Market to hit full stride; they are ready to move quickly as nice properties come on the market now. Buyers, who are more flexible as to location, also continue to find additional opportunities in neighboring towns.
If you plan to buy or sell a home in Topsham, call Maine Home Realty today!