How Much is Your Home Worth?

The value of your home depends on several factors. Housing prices varying depending on local market conditions that include: the number of homes currently on the market, prices of recently sold homes, number of foreclosed homes on the market, and many

The value of your home depends on several factors. Housing prices varying depending on local market conditions that include: the number of homes currently on the market, prices of recently sold homes, number of foreclosed homes on the market, and many other factors. The bottom line is your home will be compared to other homes currently for sale in the market.
To properly understand the value of your home and a potential price for a home sale, you will want to examine the record of home sales in your neighborhood over the past several months. It may sound daunting but your ERA Real Estate agent is here to help and can provide you with a Comparative Market Analysis (CMA).

The CMA will provide data regarding recent home sales (size, price and number of days on the market) as well as information about homes that have not yet sold. It allows you to view trends and other critical information that can be beneficial as you determine the value of your home and set a competitive price.

While the home is on the market your Agent will let you know about “market reaction” to your home from other real estate agents who show your home and from the general public who might attend an OPEN HOUSE… In addition, your Agent will keep you abreast of values of similar homes that have gone “under contract” during the time your home is for sale.

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June Real Estate Sales Surge

Single family home sales, including condos, soared statewide in June increasing 25% over June of last year. Last June 1119 homes sold statewide with an average sale price of $233,800, this June 1400 homes sold with an average sale price of $221,800.

Single family home sales, including condos, soared statewide in June increasing 25% over June of last year. Last June 1119 homes sold statewide with an average sale price of $233,800, this June 1400 homes sold with an average sale price of $221,800.

Penobscot County sales were steady for June compared with the same month last year increasing about 1%. Sales year to date for the County increased 7.4% compared with the same period last year with the average sale price increasing slightly at $132,100.

State wide, year to date home sales prices increased from and average of $209,600 to $209,700 with the number of homes sold increasing by 18%

Record low mortgage interest rates continue to attract the attention of many buyers who find buying more affordable than renting.