April Market Report

April Market Report

  • Derek Goff
  • 04/16/24


Take a look at that year-over-year sales price jump in both Cumberland and York Counties! Great news for sellers, not so great news for buyers. New listings crept up slightly in March, but these two counties, as well as most of Maine, are still experiencing a shortage of homes. This is a major contributor to the increase in prices.

The snow from last week's storm has melted, the camp roads are muddy, and the spring market is upon us! Just this past week, clients offered on a property that received 14 offers, and we hosted an open house that had eight cars lined up along the road before we opened the doors! While it's not the market of 2021-2022, our team is still seeing cash offers, and some are willing to waive inspections to get into the home of their dreams. Luckily, our team has a few ways to remain competitive when up against these types of offers without having a boatload of cash or waiving inspections, and our clients are finding success when they submit offers that stand out following our guidance.

Mortgage rates have crept up recently on the Federal Reserve's news about stubborn inflation, but many buyers are observing the sales price jumps and are betting that the prices are lower today than they will be in the future, and they'll refinance if/when rates do fall. Astute buyers also recognize that if/when rates drop, prices will likely climb, since many purchase their homes based on their monthly payment, not necessarily the price. 

We will keep you updated as we progress towards summer.

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Tomazin Goff Realty puts our clients and their homes first. We’re full-time agents with local roots that provide award-winning service that goes above and beyond our clients’ expectations. Our clients are truly a testament to the service we provide.

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