Brunswick, Maine – March 2016 Real Estate Market Report

Lowe's Home Improvement Store - 04011In March, Brunswick Home Buyers put properties under contract as quickly as they came on the market.  Amazingly, Current Inventory held steady despite a double-digit increase in Pending Sales over February’s numbers. 

At this point, the race is on in Brunswick and Buyers must be pre-approved for their loans, or have cash in hand, and be ready to write an offer when that perfect home hits the market. 

March ended with just 61 Current Listings (unchanged from February),  49 Pending Sales (up 13 from February), and 20 Closed Sales in March (up 4 from February).  Average Sales Price to List Price Ratio is unchanged from last month, at 97% for March.

Let’s compare March 2016 with March 2015 in Brunswick:

  • 61 Current listings in 2016 vs. 82 last March;
  • 49 Pending Sales in 2016 vs. 40 last March;
  • 20 Closed Sales in 2016 vs. 18 last March;
  • March 2016 Median Sales Price $277,500 vs. March 2015 Median Sales Price $158,300.

Another statistic we should be talking more about is “Days on Market.”  Days on Market (DOM) tells us how long homes have been on the market before going under contract.  In March, Brunswick homes were on the market an Average of 42 days (in February, the average DOM was 82 days).  The Median DOM was 17 in March, down from 56 in February.  The Maximum DOM in March was only 134; last March it was 215.

If you are ready to sell or buy a home in Brunswick, call Maine Home Realty today!

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