The Topsham Real Estate Market Report for November shows us that inventory is still at it’s lowest point for the second month in a row this year. It has been tough and frustrating for buyers to find the right home and still keep a budget. Sellers are loving the strong sale to list price ratio. If you are selling in Topsham it would not hurt to push the envelope slightly on your asking price, but, do not go overboard as the sales price will still need to meet the appraised value if lending or an appraisal is involved.
November ended with 24 Current Listings (remaining the same from October), 19 Pending Sales (down 2 from October), and 6 Closed Sales in October (down 3 from October). Average Sales Price to List Price Ratio remained strong at 99%!
If you compare November 2016 with November 2015 in Topsham, this is what you see:
- November 2016 Current Listings – 24 vs 53 in November 2015
- November 2016 Pending Sales – 19 vs. 23 in November 2015
- November 2016 Sales – 6 vs. 6 in November 2015
- November 2016 Median Sales Price – $274,500 vs. $215,500 in November 2015
If you want to purchase a home in Topsham, get things lined up and ready to go! The fall market is coming to an end. Winter will prove tough with low inventory so don’t get caught sitting around!
If you plan to buy or sell a home in Topsham, call Maine Home Realty today!