February Cools Off Real Estate
Locally owned and operated, Camden Hills Realty keeps the pulse on the local real estate market. We follow our local markets. Our focus is on Knox and Waldo Counties. Like politics, we believe all real estate is local.
February cooled off real estate as reported by the Maine Real Estate Information System. In Knox County there were 14 single family homes sold. Waldo County reported 12 sales. Both results were well below the previous year’s total of 35 combined transactions.
“We are still very optimistic about the market going forward,” commented John Burgess, owner of Camden Hills Realty. “The decline is more a function brutal winter which stalled the local housing economy. The positive note is we believe we will see pent up demand taking hold in the spring selling season, signaling the perfect time to get your home listed.”
Another interesting note is the value relationships between Knox and Waldo County has fallen back to a more traditional pattern. Knox had a median sale of $195,000 versus Waldo at $134,000. The combined dollar volume sold fell by around 50% in February compared to the previous year. Ouch!
The mix of sales activity leaned to a mix of independents versus the nationally franchised brands. Over 30 agencies populated the results in the local markets. There were 66 agents participating in the transactions. The local industry is very fragmented.
At Camden Hills, our sense is technology is the driver over brand. Your local agents use of technology combined with local know how, competes evenly against the out of state based franchise companies. Camden Hills Realty encourages a “shop local” approach to your real estate needs. Technology levels the playing field.
Looking to buy… Looking to sell… Look for Camden Hills Realty. Representing the coast and countryside know as Camden Hills.