We’re posting the Topsham Real Estate Market Report for March ahead of the other reports this month because we pretty much had to sit down when we looked at the Active Listings number! We’ve never seen so few houses on the market in Topsham. But, despite the shortage of active listings, both Pending Sales and Closed Sales increased over the previous month.
March ended with only 28 Current Listings (down 3 from February), 32 Pending Sales (up 9 from February!), and 11 Closed Sales in March (up 3 from February). Average Sales Price to List Price Ratio is up a point to 97%.
If you compare March 2016 with March 2015 in Topsham, this is what you see:
- March 2016 Current Listings – 28 vs 35 in March 2015
- March 2016 Pending Sales – 32 vs. 19 in March 2015
- March 2016 Sales – 11 vs. 7 in March 2015
- March 2016 Median Sales Price – $191,000 vs. $183,000 in March 2015
With current inventory tight in both Topsham and Brunswick, smart Buyers are already pre-approved for financing and they are pouncing on homes as they come on the market. 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!