Having heard some appreciated feedback on last week’s post, this certainly is a popular topic in Real Estate circles. The lack of inventory – houses, properties in general whether they be waterfront, water or mountain view – are no less challenging here in the Maine Lakes Region. New England as a region saw new homes sell on average almost 20 days quicker than the beginning of 2015. Those average cycles have dropped consistently throughout the region, and the exciting trend is the amount of time between the moment a home or property is listed, and when a firm offer is being made. Not having exact statistics to share at this moment, we can tell you the timeframe is swift. If you go to an open house, be prepared to hear – even on the first hour of the first day – that an offer has already been made, and that you likely are going to have to fight and bid for the property if you feel it is your ideal dream home, or just what you’ve been looking for. The physical turn out for open houses – especially this spring – is nothing short of remarkable. According to a new study, the best time to sell a home is in May, though we suggest in this market there will be no bad time in the foreseeable future. According to an article in the Huffington Post, the spring selling season got off to an early start in with intensity in Southern California with the market’s low inventory sending potential homebuyers into packed open houses and bidding wars that sometimes included competing all-cash offers. Real estate site Redfin found that homes in the area were selling faster than last year, and many were going for higher than asking price. The reality is that if you are in a rush to find a home, to be prepared in the month of May to pay slightly more on average. National statistical data indicates that property sales in the month of May bring about a 1% premium to sellers which averages nationwide to be about $1700 more then the other 11 months of the year. The major reason for this is simple. More people shop for homes when the weather is nice out. In regions where there are more distinct seasons and therefore traditionally more difficult weather and colder temperatures during winter, this is naturally the time of year when people simply start to get out more. Do not be discouraged if you are a buyer and not a seller in this or any market. Understanding exactly what is important to you, and at the end of the day what really is not that important, is very helpful information to talk about openly with your loved ones and with experts who care.

Calling us at (207) 693-5200 makes great sense, and it is our pleasure to serve you.