Our Final Real Estate Market and Sales Update for 2020

Wow, what a year in Maine’s residential real estate market, which thrived during 2020 because of the COVID-19 pandemic. Statistics released recently by the Maine Association of Realtors and Maine Listings show a sales increase of 9.82 percent for all single-family existing homes sold during 2020. Values increased by double digits with the statewide median sales price (MSP) reaching $256,000, an increase of 13.78 percent. The MSP indicates that half of the homes were sold for more and half sold for less.

The sales year ended with historic highs for the number of reported transactions (19,921) and median sales price ($256,000) since the Maine Association of Realtors began compiling data more than 20 years ago. During the month of December only, sales across the state of Maine were up 31.53 percent compared to December 2019, and the statewide MSP of $270,000 represents an increase of 15.38 from the previous year.

Nationally, December 2020 sales of single-family existing homes jumped 22.8 percent over December 2019. According to the National Association of Realtors, prices were also on the rise last month, with an increase of 13.5 percent to a national MSP of $314,300. Sales in the regional Northeast climbed an incredible 27.4 percent and the regional MSP reached $362,100—a jump of 19 percent comparing December 2020 to December 2019. Last year began with the positive momentum from 2019 and then was jolted in the second quarter by the arrival of COVID-19.  Since July, sales demand and volume has been exceptionally strong. Coupled with tight for-sale inventory, most markets in our state have experienced double-digit appreciation for median sold prices.

Our company had an exceptionally strong sales year in 2020, and we are thankful for the many families we served. As of 12/31/2020, our brokers had closed a record 221 transaction sides with a total volume of $64,413,915—up 51% over our Y-T-D numbers in 2019 and the highest in our company history. In comparison, the local Sotheby’s office booked $41,569,370 from 93 sides, and Drum and Drum Real Estate sold $26,970,780 with 82 sides. Thanks to their hard work and on behalf of our staff of professional brokers and the clients they served, we are pleased to remain the leading firm in our area.

Most of the 2020 property sales locally have occurred in Waldoboro (80), Boothbay (116), Wiscasset (100), Jefferson (79), Bristol (124), and Boothbay Harbor (90). Slightly fewer sales happened last year in Dresden (35), Whitefield (40), Damariscotta (47), Newcastle (48), and Edgecomb (45). Towns that saw even fewer sales include Westport Island (32), South Bristol (40), Nobleboro (43), and Bremen (27). Just a handful of 2020 sales occurred in Alna (15), Southport (22), Somerville (13), and Monhegan Island (2).

There are currently just 128 single-family homes for sale in Lincoln County (down from 153 in December), with 36 percent of those priced at or above $500,000. The 759 residential sales that occurred in the past 365 days represent transactions in the range of under $100,000 (7%), $100,000-$249,999 (31%), $250,000-$499,999 (44%), $500,000-$999,999 (15%), and $1 million-plus (3%). Listing inventory remains super low—it is still a great time to sell and our brokers are ready to answer your questions about the process.

The current market absorption rates for Lincoln County homes are 1.2 months (under $100,000), 1.4 months ($100,000-$249,999), 1.9 months ($250,000-$499,999), 3.1 months ($500,000-$999,999), and 8.6 months ($1 million and up). This tells us how long it would take for existing inventories to be absorbed into the market at current rates of sales if no new listings were introduced.

Newcastle Realty tracks Lincoln County and statewide sales, along with other important metrics, which keeps our brokers fully informed of current market conditions and emerging trends as they serve buyer and seller client needs. Questions or comments may be directed to Dennis Hilton, President of Newcastle Realty at dennishilton@cheneycompanies.com or 207-380-3435.

  • Sales data is based on information from the Maine Real Estate Information System, Inc. (d/b/a Maine Listings) for the period 1/1/2020 through 12/31/2020.

December 2020 Real Estate Market Update

Low for-sale inventory and high demand for Maine’s lifestyle has driven real estate sales and values into double-digit gains. Today, Maine Listings reported that 1,965 single-family existing homes changed hands in November—a rise of 31.17 percent compared to November 2019. Values also increased 20 percent to a median sales price (MSP) of $270,000, comparing November 2020 to November 2019. The MSP indicates that half of the homes were sold for more and half sold for less.

Residential real estate activity in Maine is still crazy-busy. In most markets across the state, Realtors are reporting multiple offer situations on move-in ready listings. The increased competition for historically low for-sale inventory availability is resulting in higher prices. January through November sales are 7.9 percent ahead of the same time period for 2019—Maine’s best year ever. One-third of November’s sales involved out-of-state buyers, compared to one-fourth during November of 2019.

Nationally, sales of single-family existing homes rose 25.6 percent in November 2020 compared to November 2019. According to The National Association of Realtors, values also increased 15.1 percent to a national MSP of $315,500. The regional Northeast witnessed a sales jump of 25.7 percent, and the regional MSP of $354,100 represents a 17.4 percent increase comparing November 2020 to November 2019. Maine’s reputation as a safe place is fueling interest. With tight market conditions, buyers and sellers should partner with a Newcastle Realty broker for expert counsel around inventory availability, marketing and pricing, and negotiating strategies to successfully achieve their real estate needs and goals.

Our company has had an exceptionally strong sales year. As of the date of this report, our brokers have closed 215 transaction sides with a total volume of $63,065,915—up 70% over our Y-T-D numbers in 2019. In comparison, the local Sotheby’s office has booked $38,468,100 from 88 sides, and Drum and Drum Real Estate has sold $25,339,780 with 77 sides. We are pleased to remain the leading real estate firm in our area.

Most of the year-to-date 2020 property sales locally have occurred in Waldoboro (77), Boothbay (113), Wiscasset (92), Jefferson (78), Bristol (118), and Boothbay Harbor (86). Slightly fewer sales have happened so far this year in Dresden (35), Whitefield (37), Damariscotta (44), Newcastle (46), and Edgecomb (45). Towns seeing even fewer sales include Westport Island (31), South Bristol (40), Nobleboro (43), and Bremen (26). Just a handful of 2020 sales have occurred in Alna (14), Southport (22), Somerville (13), and Monhegan Island (2).

There are currently just 153 single-family homes for sale in Lincoln County (down from 179 in November), with 35 percent of those priced at or above $500,000. The 736 residential sales that have occurred in the past 365 days represent transactions in the range of under $100,000 (7%), $100,000-$249,999 (31%), $250,000-$499,999 (44%), $500,000-$999,999 (14%), and $1 million-plus (4%). Listing inventory remains super low—it is a great time to sell and our brokers are ready to answer your questions about the process.

The current market absorption rates for Lincoln County homes is 1.6 months (under $100,000), 1.7 months ($100,000-$249,999), 2.3 months ($250,000-$499,999), 4.0 months ($500,000-$999,999), and 11.6 months ($1 million and up). This tells us how long it would take for existing inventories to be absorbed into the market at current rates of sales if no new listings were introduced.

Newcastle Realty tracks Lincoln County and statewide sales, along with other important metrics, which keeps our brokers fully informed of current market conditions and emerging trends as they serve buyer and seller client needs. Questions or comments may be directed to Dennis Hilton, President of Newcastle Realty at dennishilton@cheneycompanies.com or 207-380-3435.

  • Sales statistics based on information from the Maine Real Estate Information System, Inc. (d/b/a Maine Listings) for the period 1/1/2020 through 12/22/2020.

November Real Estate Market Update

Maine’s real estate sales are still crazy high—up by double digits. According to statistics released today by the Maine Association of Realtors, agents across the state sold 2,341 single-family existing homes last month (!)—a jump of 26.88 percent over October 2019. The median sales price (MSP) for homes sold reached $280,000, a 24.50 percent increase over October 2019. The MSP indicates that half of the homes were sold for more and half sold for less.

The residential real estate recovery since the COVID-impacted second quarter has been, shall we say, robust. January through October 2020 sales are 5.6 percent ahead of the comparable time period for 2019. Buyers are plentiful across Maine and they are facing a sustained tight supply of for-sale inventory. This supply/demand imbalance, buoyed by historically-low mortgage interest rates, has resulted in increased competition and price appreciation.

The National Association of Realtors reported a national sales increase of 26.7 percent last month, while the national MSP reached $317,700—up 16.0 percent. The regional Northeast experienced a sales climb of 30.4 percent in October, and a 20.2 percent jump in median sales prices to hit $356,500. Maine’s lower incidence of COVID compared to the rest of the country, plus the increase in tele-working, has resulted in out-of-state buyers adding to the demand for Maine homes. Historically, about 25 percent of monthly home purchases in Maine are by out-of-state buyers, but during October, that number was 36 percent.

Newcastle Realty has had an exceptionally strong sales year, despite the pandemic. As of the date of this report, our brokers have closed 195 transaction sides with a total volume of $55,898,465—up 70% over our Y-T-D numbers in 2019. In comparison, the local Sotheby’s office has booked $35,937,600 from 80 sides, and Drum and Drum Real Estate has sold $23,411,280 with 68 sides. We are pleased to remain the leading real estate firm in our area.

Most of the year-to-date 2020 property sales locally have occurred in Waldoboro (68), Boothbay (98), Wiscasset (81), Jefferson (72), Bristol (102), and Boothbay Harbor (73). Slightly fewer sales have happened so far this year in Dresden (31), Whitefield (33), Damariscotta (40), Newcastle (34), and Edgecomb (40). Towns seeing even fewer sales include Westport Island (26), South Bristol (35), Nobleboro (39), and Bremen (24). Just a handful of 2020 sales have occurred in Alna (13), Southport (16), Somerville (11), and Monhegan Island (2).

There are currently just 179 single-family homes for sale in Lincoln County (down from 190 in October), with 36 percent of those priced at or above $500,000. The 711 residential sales that have occurred in the past 365 days represent transactions in the range of under $100,000 (7%), $100,000-$249,999 (34%), $250,000-$499,999 (42%), $500,000-$999,999 (14%), and $1 million-plus (3%). Listing inventory remains super low—it is a great time to sell and we are ready to answer your questions about the process.

The current market absorption rates for Lincoln County homes is 1.1 months (under $100,000), 1.8 months ($100,000-$249,999), 3.0 months ($250,000-$499,999), 5.2 months ($500,000-$999,999), and 12.1 months ($1 million and up). This tells us how long it would take for existing inventories to be absorbed into the market at current rates of sales if no new listings were introduced.

Newcastle Realty tracks Lincoln County and statewide sales, along with other important metrics, which keeps our brokers fully informed of current market conditions and emerging trends as they serve buyer and seller client needs. Questions or comments may be directed to Dennis Hilton, President of Newcastle Realty at dennishilton@cheneycompanies.com or 207-380-3435.

  • Sales statistics based on information from the Maine Real Estate Information System, Inc. (d/b/a Maine Listings) for the period 1/1/2020 through 11/22/2020.

October 2020 Real Estate Market Report

With historically low interest rates and more buyers than sellers, sales of Maine single-family existing homes increased 22.78 percent comparing September 2020 to September 2019. According to statistics released by Maine Listings, the median sales price (MSP) for homes sold in September 2020 rose 19.56 percent to $273,500, compared to September 2019. The MSP indicates that half of the homes were sold for more and half sold for less.

Demand is being powered by historically-low mortgage interest rates combined with the allure of Maine’s quality of life and response to COVID-19 from across the country, while the supply of for-sale properties also remains historically low. With more buyers than sellers in most markets, we are seeing strong competition, faster sales, and increasing pricing. Typically, about 25 percent of home purchases in Maine are made by out-of-state buyers, and we’re seeing that percentage increase to around 33 percent. In September of 2019, Maine had 445 single family homes purchased by out-of-state buyers. In September 2020, that number was 735.

Across the country, sales also increased by double-digits. The National Association of Realtors reports that sales nationwide are up 21.8 percent comparing September 2020 to September 2019, and the national MSP reached $316,200 in September 2020—a rise of 15.2 percent over September 2019. In the regional Northeast, sales of single-family existing homes jumped 22.9 percent, and the regional MSP of $354,600 reflects a 17.8 percent increase.

Newcastle Realty has had an exceptionally strong sales year, despite the pandemic. As of the date of this report, our brokers have closed 168 transaction sides with a total volume of $48,943,365—up 57% over our Y-T-D numbers in 2019. In comparison, the local Sotheby’s office has booked $34,057,600 from 75 sides, and Drum and Drum Real Estate has sold $18,741,100 with 55 sides. We are pleased to remain the leading real estate firm in our area.

Most of the year-to-date 2020 property sales locally have occurred in Waldoboro (59), Boothbay (86), Wiscasset (75), Jefferson (64), Bristol (82), and Boothbay Harbor (59). Slightly fewer sales have happened so far this year in Dresden (30), Whitefield (32), Damariscotta (33), Newcastle (29), and Edgecomb (35). Towns seeing even fewer sales include Westport Island (22), South Bristol (33), Nobleboro (33), and Bremen (23). Just a handful of 2020 sales have occurred in Alna (12), Southport (13), Somerville (10), and Monhegan Island (2).

There are currently just 190 single-family homes for sale in Lincoln County (down from 203 in September), with 37 percent of those priced at or above $500,000. The 698 residential sales that have occurred in the past 365 days represent transactions in the range of under $100,000 (8%), $100,000-$249,999 (37%), $250,000-$499,999 (39%), $500,000-$999,999 (13%), and $1 million-plus (3%). Listing inventory remains super low—it is a great time to sell and we are ready to answer your questions about the process.

The current market absorption rates for Lincoln County homes is 1.6 months (under $100,000), 1.8 months ($100,000-$249,999), 3.3 months ($250,000-$499,999), 6.1 months ($500,000-$999,999), and 15.4 months ($1 million and up). This tells us how long it would take for existing inventories to be absorbed into the market at current rates of sales if no new listings were introduced.

Newcastle Realty tracks Lincoln County and statewide sales, along with other important metrics, which keeps our brokers fully informed of current market conditions and emerging trends as they serve buyer and seller client needs. Questions or comments may be directed to Dennis Hilton, President of Newcastle Realty at dennishilton@cheneycompanies.com or 207-380-3435.

  • Sales statistics based on information from the Maine Real Estate Information System, Inc. (d/b/a Maine Listings) for the period 1/1/2020 through 10/22/2020.

September 2020 Real Estate Market Report

Real estate sales in Maine continue a healthy, highly positive trajectory. The value of single-family existing homes jumped 17.4 percent comparing August 2020 to August 2019, reaching a median sales price of $270,000, according to Maine Listings. The MSP indicates that half of the homes were sold for more and half sold for less. Home sales increased 1.31 percent from last August.

The August statistics show strong demand for residential real estate in Maine. After the steep decline during the second quarter due to COVID-19, Maine’s Q3 positive sales to date have brought us nearly even to 2019 levels.

We are experiencing an historically low supply of homes for sale, 40 percent below a year ago. Demand is being fueled by all-time low mortgage interest rates, Maine households moving within the state, and an up-tick in out-of-state buyers seeking Maine’s quality of life and safety. In August of 2019, Maine had 482 single family homes purchased by out-of-state buyers. In August 2020, that number was 707.

The National Association of Realtors today reported an 11.0 percent increase in the sales of single-family homes nationwide in the past year. Prices for those homes rose 11.7 percent to $315,000. Regionally, sales in the Northeast increased 5.7 percent, while the regional MSP jumped 10.4 percent to $349,500.

Newcastle Realty has had a very strong first eight months of 2020, despite the pandemic. As of the date of this report, our brokers have closed 134 transaction sides with a total volume of $36,893,965—up 26% over our Y-T-D numbers in 2019. In comparison, the local Sotheby’s office has booked $25,349,100 from 59 sides, and Drum and Drum Real Estate has sold $14,221,500 with 44 sides. We are pleased to remain the leading real estate firm in our area.

Most of the year-to-date 2020 property sales locally have occurred in Waldoboro (50), Boothbay (74), Wiscasset (62), Jefferson (46), Bristol (65), and Boothbay Harbor (45). Slightly fewer sales have happened so far this year in Dresden (25), Whitefield (30), Damariscotta (28), Newcastle (24), and Edgecomb (29). Towns seeing even fewer sales include Westport Island (17), South Bristol (30), Nobleboro (27), and Bremen (20). Just a handful of 2020 sales have occurred in Alna (10), Southport (8), Somerville (8), and Monhegan Island (2).

There are currently 203 single-family homes for sale in Lincoln County (up slightly from 200 in August), with 36 percent of those priced at or above $500,000. The 652 residential sales that have occurred in the past 365 days represent transactions in the range of under $100,000 (9%), $100,000-$249,999 (40%), $250,000-$499,999 (37%), $500,000-$999,999 (12%), and $1 million-plus (2%). Listing inventory remains low—it is a great time to sell and we are ready to answer your questions about the process.

The current market absorption rates for Lincoln County homes is 1.5 months (under $100,000), 2.0 months ($100,000-$249,999), 4.2 months ($250,000-$499,999), 8.4 months ($500,000-$999,999), and 16.2 months ($1 million and up). This tells us how long it would take for existing inventories to be absorbed into the market at current rates of sales if no new listings were introduced.

Newcastle Realty tracks Lincoln County and statewide sales, along with other important metrics, which keeps our brokers fully informed of current market conditions and emerging trends as they serve buyer and seller client needs. Questions or comments may be directed to Dennis Hilton, President of Newcastle Realty at dennishilton@cheneycompanies.com or 207-380-3435.

  • Sales statistics based on information from the Maine Real Estate Information System, Inc. (d/b/a Maine Listings) for the period 1/1/2020 through 09/22/2020.

August 2020 Real Estate Market Report

Sales of single-family existing homes continue to recover from the impacts of the early months of COVID-19; Maine Listings reports a sales jump of 12.43 percent in July 2020, when compared to July 2019. Values rose 10.83 percent to a median sales price (MSP) of $254,900, comparing July 2020 to July 2019. The MSP indicates that half of the homes were sold for more and half sold for less.

Maine’s midcoast real estate market was very active in July for a number of reasons. Maine’s quality of life, our nation-leading low COVID-19 metrics, and mortgage interest rates hovering at three percent and below, are contributing to very strong demand for residential real estate. The July statistics indicate pent-up demand from the initial drop-off impacts of the pandemic.

According to the National Association of Realtors, sales nationwide were up 9.8 percent in the past year. The national MSP rose 8.5 percent to $307,800. Regionally, single-family home sales in the Northeast eased 5.9 percent while the regional MSP increased 4.0 percent to $317,800 comparing July 2020 to July 2019.

Newcastle Realty has had a very strong first-half of 2020, despite the pandemic. As of the date of this report, our brokers have closed 97 transaction sides with a total volume of $24,988,565—up slightly from our same Y-T-D numbers in 2019. In comparison, the local Sotheby’s office has booked $18,943,100 from 43 sides, and Drum and Drum Real Estate has sold $10,004,500 with 29 sides. We are pleased to remain the leading real estate firm in our area.

Most of the year-to-date 2020 property sales locally have occurred in Waldoboro (43), Boothbay (54), Wiscasset (53), Jefferson (38), Bristol (45), and Boothbay Harbor (33). Slightly fewer sales have happened so far this year in Dresden (20), Whitefield (25), Damariscotta (18), Newcastle (17), and Edgecomb (24). Towns seeing even fewer sales include Westport Island (10), South Bristol (20), Nobleboro (20), and Alna (9). Just a handful of 2020 sales have occurred in Southport (7), Somerville (8), Bremen (14), and Monhegan Island (1).

There are currently 200 single-family homes for sale in Lincoln County (down from 207 in July), with 37 percent of those priced at or above $500,000. The 622 residential sales that have occurred in the past 365 days represent transactions in the range of under $100,000 (9%), $100,000-$249,999 (43%), $250,000-$499,999 (35%), $500,000-$999,999 (11%), and $1 million-plus (2%). Listing inventory remains low—it is a great time to sell and we are ready to answer your questions about the process.

The current market absorption rates for Lincoln County homes is under one month (under $100,000), 1.4 months ($100,000-$249,999), 3.2 months ($250,000-$499,999), 10.5 months ($500,000-$999,999), and 13.9 months ($1 million and up). This tells us how long it would take for existing inventories to be absorbed into the market at current rates of sales if no new listings were introduced.

Newcastle Realty tracks Lincoln County and statewide sales, along with other important metrics, which keeps our brokers fully informed of current market conditions and emerging trends as they serve buyer and seller client needs. Questions or comments may be directed to Dennis Hilton, President of Newcastle Realty at dennishilton@cheneycompanies.com or 207-380-3435.

  • Sales statistics based on information from the Maine Real Estate Information System, Inc. (d/b/a Maine Listings) for the period 1/1/2020 through 08/21/2020.

July 2020 Real Estate Market Report

The number of sales of single-family homes in Maine is down slightly in June but prices remain on the rise. Realtors across the state sold 1,720 homes in June—78 fewer homes than a year ago – a 4.3% decrease compared to June 2019. The Median Sales Price (MSP) for homes sold in June reached $249,000, an increase of 4.15 percent compared to June 2019. The MSP indicates that half of the homes were sold for more and half sold for less.

As Maine navigates COVID-19, the real estate industry has adapted. The June statistics show improvement and indicate that sellers and buyers have adjusted to Maine’s health and safety protocols. The current market activity serves as an important catalyst for overall economic recovery. The housing industry provides employment for not just REALTORS®, but also lenders, appraisers, building inspectors, surveyors, title and closing agents, cleaning and yard maintenance providers, and building contractors. Many buyers make home improvements and upgrades, and their spending creates additional positive economic ripples throughout their communities.

Nationally, sales decreased 9.9 percent in June 2020 compared to June 2019. According to the National Association of Realtors, sales of existing homes across the country eased 9.9 percent, while the National MSP rose 3.5 percent in June to $298,600. Realtors in the regional Northeast reported a sales dip of 27.9 percent comparing June 2020 to June 2019, while the regional MSP increased 3.6 percent to $332,900.

Newcastle Realty has had strong first-half of 2020, despite the pandemic. As of the date of this report, our brokers have closed 79 transaction sides with a total volume of $19,226,065—up slightly from our same Y-T-D numbers in 2019. In comparison, the local Sotheby’s office has booked $12,769,200 from 31 sides, and Drum and Drum Real Estate has sold $8,258,500 with 23 sides. We are pleased to remain the leading real estate firm in our area.

Most of the year-to-date 2020 property sales locally have occurred in Waldoboro (35), Boothbay (37), Wiscasset (42), Jefferson (26), Bristol (32), and Boothbay Harbor (26). Slightly fewer sales have happened so far this year in Dresden (17), Whitefield (20), Damariscotta (16), Newcastle (13), and Edgecomb (18). Towns seeing even fewer sales include Westport Island (9), South Bristol (14), Nobleboro (17), and Alna (9). Just a handful of 2020 sales have occurred in Southport (5), Somerville (6), Bremen (9), and Monhegan Island (1).

There are currently 207 single-family homes for sale in Lincoln County (down from 278 in June), with 39 percent of those priced at or above $500,000. The 608 residential sales that have occurred in the past 365 days represent transactions in the range of under $100,000 (8%), $100,000-$249,999 (44%), $250,000-$499,999 (36%), $500,000-$999,999 (11%), and $1 million-plus (1%). Listing inventory remains low—it is a great time to sell and we are ready to answer your questions about the process.

The current market absorption rates for Lincoln County homes is under one month (under $100,000), 1.8 months ($100,000-$249,999), 4.7 months ($250,000-$499,999), 11.2 months ($500,000-$999,999), and 31.1 months ($1 million and up). This tells us how long it would take for existing inventories to be absorbed into the market at current rates of sales if no new listings were introduced.

Newcastle Realty tracks Lincoln County and statewide sales, along with other important metrics, which keeps our brokers fully informed of current market conditions and emerging trends as they serve buyer and seller client needs. Questions or comments may be directed to Dennis Hilton, President of Newcastle Realty at dennishilton@cheneycompanies.com or 207-380-3435.

  • Sales statistics based on information from the Maine Real Estate Information System, Inc. (d/b/a Maine Listings) for the period 1/1/2020 through 07/22/2020.

June 2020 Real Estate Market Report

Sales of Maine’s single-family homes eased in May, due to effects from COVID-19 and limited supply; however, value and demand for available homes remained strong. According to Maine Listings, Realtors sold 21.34 percent fewer homes in May 2020, compared to May 2019. Prices continued to rise, with a median sales price increase of 3.43 percent to $237,900. The MSP indicates that half of the homes were sold for more and half sold for less.

We are seeing greater impact on supply and demand in Maine’s real estate markets due to COVID-19. For-sale inventory is extremely tight—28 percent below a year ago; statewide, the days on market statistic for May was 17. Since March, when COVID-19 arrived, days on market statistics are down an average of 30 percent. The brokers at Newcastle Realty are guiding buyers and sellers through this unique market to help them achieve their real estate needs, while following Maine’s CDC guidelines.

The National Association of Realtors reported that sales across the United States eased 24.8 percent and the national MSP increased 2.4 percent to $287,700 comparing May 2020 to May 2019. Regionally, sales in the Northeast fell 29.9 percent compared to last May. The regional MSP rose 7.8 percent to $327,900.

Newcastle Realty has had a strong start to this sales year, despite the pandemic. As of the date of this report, our brokers have closed 55 transaction sides with a total volume of $12,899,300—down slightly from our same Y-T-D numbers in 2019. In comparison, the local Sotheby’s office has booked $8,656,200 from 21 sides, and Drum and Drum Real Estate has sold $4,077,500 with 15 sides. We are pleased to remain the leading real estate firm in our area.

Most of the year-to-date 2020 property sales locally have occurred in Waldoboro (29), Boothbay (22), Wiscasset (32), Jefferson (20), Bristol (25), and Boothbay Harbor (20). Slightly fewer sales have happened so far this year in Dresden (13), Whitefield (17), Damariscotta (13), Newcastle (10), and Edgecomb (15). Towns seeing even fewer sales include Westport Island (9), South Bristol (10), Nobleboro (11), and Alna (8). Just a handful of 2020 sales have occurred in Southport (4), Somerville (6), Bremen (5), and Monhegan Island (1).

There are currently 278 single-family homes for sale in Lincoln County (up from 222 in May), with 35 percent of those priced at or above $500,000. The 594 residential sales that have occurred in the past 365 days represent transactions in the range of under $100,000 (8%), $100,000-$249,999 (44%), $250,000-$499,999 (36%), $500,000-$999,999 (11%), and $1 million-plus (1%). Listing inventory remains low—it is a great time to sell and we are ready to answer your questions about the process.

The current market absorption rates for Lincoln County homes is 1.7 months (under $100,000), 2.5 months ($100,000-$249,999), 6.3 months ($250,000-$499,999), 12.3 months ($500,000-$999,999), and 30.4 months ($1 million and up). This tells us how long it would take for existing inventories to be absorbed into the market at current rates of sales if no new listings were introduced.

Newcastle Realty tracks Lincoln County and statewide sales, along with other important metrics, which keeps our brokers fully informed of current market conditions and emerging trends as they serve buyer and seller client needs. Questions or comments may be directed to Dennis Hilton, President of Newcastle Realty at dennishilton@cheneycompanies.com or 207-380-3435.

  • Sales statistics based on information from the Maine Real Estate Information System, Inc. (d/b/a Maine Listings) for the period 1/1/2020 through 06/22/2020.

May 2020 Real Estate Market Report

Despite a pandemic-fueled wane in the sales of single-family homes, values in Maine increased by double digits last month. According to Maine Listings, Realtors sold 194 fewer homes in April 2020 compared to April 2019, which is a decrease of 15.41 percent. The median sales price (MSP) jumped 12.29 percent to $235,800, compared April 2020 to April 2019. The MSP indicates that half of the homes were sold for more and half sold for less.

The April 2020 statistics show the beginning impact of the pandemic pause on Maine’s real estate sales. Because real estate transactions take 30-45 days to close, contracts written before the pandemic have likely now been completed. Recent statistics show that Maine’s for-sale inventory is down 19 percent compared to a year ago. Activity reported by Newcastle Realty brokers indicate that buyers are plentiful and multiple offer situations are prevalent due to historic low mortgage interest rates and the constrained inventory levels. Values remain strong.

Nationally in April 2020, sales decreased 15.5 percent compared to April a year ago. The National Association of Realtors also cited a rise in April’s home prices—7.3 percent—to a national MSP of $288,700. In April 2020, the regional Northeast experienced a sales dip of 18.2 percent, while the regional MSP increased 8.7 percent to $312,500 compared to April 2019.

Newcastle Realty has had a strong start to this sales year. As of the date of this report, our brokers have closed 43 transaction sides with a total volume of $10,784,000—down slightly from our same Y-T-D numbers in 2019. In comparison, the local Sotheby’s office has booked $8,471,200 from 20 sides, and Drum and Drum Real Estate has sold $3,715,500 with 13 sides. We are pleased to remain the leading real estate firm in our area.

Most of the year-to-date 2020 property sales locally have occurred in Waldoboro (20), Boothbay (17), Wiscasset (24), Jefferson (17), Bristol (20), and Boothbay Harbor (13). Slightly fewer sales have happened so far this year in Dresden (11), Whitefield (11), Damariscotta (8), Newcastle (10), and Edgecomb (9). Towns seeing even fewer sales include Westport Island (7), South Bristol (8), Nobleboro (9), and Alna (4). Just a handful of 2020 sales have occurred in Southport (3), Somerville (4), Bremen (3), and Monhegan Island (1).

There are currently 222 single-family homes for sale in Lincoln County (down slightly from 233 in April), with 36 percent of those priced at or above $500,000. The 618 residential sales that have occurred in the past 365 days represent transactions in the range of under $100,000 (9%), $100,000-$249,999 (46%), $250,000-$499,999 (34%), $500,000-$999,999 (10%), and $1 million-plus (1%). Listing inventory remains low—it is a great time to sell and we are ready to answer your questions about the process.

The current market absorption rates for Lincoln County homes is 1.80 months (under $100,000), 1.82 months ($100,000-$249,999), 5.3 months ($250,000-$499,999), 12.4 months ($500,000-$999,999), and 27.0 months ($1 million and up). This tells us how long it would take for existing inventories to be absorbed into the market at current rates of sales if no new listings were introduced.

Newcastle Realty tracks Lincoln County and statewide sales, along with other important metrics, which keeps our brokers fully informed of current market conditions and emerging trends as they serve buyer and seller client needs. Questions or comments may be directed to Dennis Hilton, President of Newcastle Realty at dennishilton@cheneycompanies.com or 207-380-3435.

  • Sales statistics based on information from the Maine Real Estate Information System, Inc. (d/b/a Maine Listings) for the period 1/1/2020 through 05/22/2020.

Introducing Matterport 3D Virtual Tours

The COVID-19 Pandemic of 2020 has caused a significant adjustment to the way real estate is viewed, and bought and sold. The brokers at Newcastle Realty now follow important safety protocols and often meet with clients by phone and video chat. Paperwork and documents are signed electronically, and showings are conducted by video, or by adhering to certain distancing and disinfection standards.

In order to keep the real estate firm’s staff and clients safe while still being engaged in real estate, Newcastle Realty has continued to update their business practices in ways that support those goals. As a prime example of those efforts, Newcastle Realty has made a significant investment in Matterport, an industry leader in 3D Virtual Tour technology. 

“We have long partnered with Tyler Plummer at Maine Aerial Photography Services,” explains owner Dennis Hilton. “Tyler provides professional photos and videos of many of our property listings, and now we are working with him to offer exciting 3D Virtual Tours, detailed floor plans, and even measuring tools using sophisticated 3D mapping camera equipment.”

The Matterport 3D Virtual Tours allow a viewer to move through a home however they wish, from room Matterport Virtual Tours - Newcastle Realtyto room, and floor-to-floor, even outside onto patios and decks. It is easy to navigate and turn around to see the surrounding room features. The experience very closely resembles an actual visit to the home, but from the safety of the viewers’ remote location.

With over 20 agents, Newcastle Realty is one of the largest real estate firms in Lincoln County, serving hundreds of property sellers and buyers. While the impact of the Covid-19 virus has caused a slight slowdown in activity, their staff are still introducing new listings and placing properties under contract. Inventories are low and buyer demand remains strong, making this an excellent time to list your property for sale, even with the extra steps required for safety. Your Newcastle Realty broker is prepared to answer your questions and guide you through the process.

To learn more about how Newcastle Realty is using Matterport technology to assist clients and to market properties more effectively. Newcastle Realty is a member of the Cheney Financial Group, which also includes Cheney Insurance and Newcastle Vacation Rentals. They can be reached at (207) 563-1003.

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April 2020 Real Estate Market Report

February statistics released on March 20, 2020 by Maine Listings indicated a 5.75 percent increase in sales of single-family existing homes, comparing February 2020 to February 2019. The median sales price (MSP) for the 865 homes sold reached $216,900—an uptick of 8.45 percent over that same period. The MSP indicates that half of the homes were sold for more and half sold for less. Pre-pandemic February 2020 was an especially strong month for real estate sales, recording the second highest number of February sales (865) since statistics began being kept more than 20 years ago.

Nationwide, sales of single-family homes were up 7.3 percent when comparing February 2020 to February 2019. That National Association of Realtors reports that the national MSP has jumped 8.1 percent to $272,400. Regionally, sales across the Northeast increased 2.9 percent, and the regional MSP rose 8.2 percent to $295,400.

Concern for the health and safety of our clients and customers is paramount. With the Covid-19 outbreak, our broker staff has adapted quickly; we continue to list and show properties via phone or video. We can exchange information and execute contracts electronically. Interest rates remain low, and it is important to remember that real estate is still being transacted routinely—just differently. Reach out to us with any questions.

Newcastle Realty has had a good start to this sales year. As of the date of this report, our brokers have closed 31 transaction sides with a total volume of $6,769,000—down slightly from our same Y-T-D numbers in 2019. In comparison, the local Sotheby’s office has booked $5,767,700 from 14 sides, and Drum and Drum Real Estate has sold $2,805,500 with 10 sides. We are pleased to remain the leading real estate firm in our area.

Most of the year-to-date 2020 property sales locally have occurred in Waldoboro (18), Boothbay (15), Wiscasset (17), Jefferson (13), Bristol (15), and Whitefield (10). Slightly fewer sales have happened so far this year in Dresden (9), Boothbay Harbor (8), Damariscotta (7), Newcastle (6), and Edgecomb (5). Towns seeing even fewer sales include Westport Island (4), South Bristol (4), Nobleboro (4), and Alna (3). Just one or two 2020 sales have occurred in Southport (2), Somerville (2), and Monhegan Island (1).

There are currently 233 single-family homes for sale in Lincoln County (down from 317 in January), with 33 percent of those priced at or above $500,000. The 632 residential sales that have occurred in the past 365 days represent transactions in the range of under $100,000 (8%), $100,000-$249,999 (46%), $250,000-$499,999 (34%), $500,000-$999,999 (10%), and $1 million-plus (2%). Listing inventory remains low—it is a great time to sell and we are ready to answer your questions about the process.

The current market absorption rates for Lincoln County homes is 2.6 months (under $100,000), 2.1 months ($100,000-$249,999), 5.4 months ($250,000-$499,999), 11.2 months ($500,000-$999,999), and 21.9 months ($1 million and up). This tells us how long it would take for existing inventories to be absorbed into the market at current rates of sales if no new listings were introduced.

Newcastle Realty tracks Lincoln County and statewide sales, along with other important metrics, which keeps our brokers fully informed of current market conditions and emerging trends as they serve buyer and seller client needs. Questions or comments may be directed to Dennis Hilton, President of Newcastle Realty at dennishilton@cheneycompanies.com or 207-380-3435.

  • Sales statistics based on information from the Maine Real Estate Information System, Inc. (d/b/a Maine Listings) for the period 1/1/2020 through 04/13/2020.

Our Plan to Serve You Throughout COVID-19 (Update)

At Newcastle Realty, our top priority is to keep our staff, clients, vendors, and community partners safe during the COVID-19 crisis.

On March 18, we closed our office to non-staff personnel and transitioned to meeting with clients via phone or video—many of our brokers were already working remotely. Today, we are moving all remaining support staff to work-from-home arrangements to help slow the spread of the virus.

While the way in which we are here to assist and serve your needs may look different, please be assured that we are adapting quickly to support our buyer and seller clients in creative ways. We are still here, and only a phone call, email, or video chat away.

You may still dial 207-563-1003 to speak with a duty broker or to leave a message for other staff. Additional broker contact info and property information can be found on our website. We will continue to walk clients through the purchase or sale of their home step-by-step, by phone, email, or video conference.

Property brochures and disclosures will be provided electronically, and transaction documents can be discussed over the phone and emailed for electronic signature. We can provide a virtual walk-through for you to view from the safety of your home, and we can deliver an opinion of value by video.

Given the evolving nature of the outbreak, we will be assessing the situation and adjusting our business practices on an ongoing basis and post updates as they become available.

Thank you for your understanding and cooperation as we navigate this difficult time. We appreciate your business and hope that you and your family remain healthy and safe!

 

Our Plan to Serve You Throughout COVID-19 (Coronavirus)

At Newcastle Realty, our top priority is to keep our staff, clients, and vendors safe during the COVID-19 crisis, as we look for ways to support others in our local community.

We are doing our part to reduce risk by closing our office to non-staff personnel effective March 18. If you need to meet with us, please do so via phone or video chat. While the way in which we are here to assist and serve your needs may look different, please be assured that we are still here, and only a phone call, email, or video conversation away.

You may still dial 207-563-1003 to speak with a duty broker or to leave a message for other staff. Additional broker contact info can be found here and you may still search for available properties on our website here.

Given the evolving nature of the outbreak, we will be assessing the situation on an ongoing basis and we will post updates as they become available. Thank you for your understanding and cooperation as we navigate this difficult time. We appreciate your business and hope that you and your family remain healthy and safe!

Meet Team JMZ at Newcastle Realty

Teams of Real Estate brokers are the new trend in Real Estate firms across the country, with Newcastle Realty on the forefront in this area. Lorrie Zeiner, a seasoned broker with over 35 years experience reaching from Camden to Kennebunk, became Dean Jacobs’ mentor two years ago. Dean’s business background prompted him to approach Lorrie with the strengths that collaboration of efforts would bring to the level of customer service possibilities for their clients. Soon after, Clint Miller came on board with a strong marketing background, and the three readily agreed that each of their backgrounds complimented one another.

 

Newcastle Realty, with its’ 20 full-time agents, offers an office culture of cooperation and common goals. The advantage of Team JMZ, within the Newcastle Realty firm, is being able to provide three people who are exclusively looking out for their buyers and sellers, confidentially strategizing marketing ideas, pricing, and knowledge of the properties. The three are involved with all facets of each client relationship and provide a check and balance with every transaction. There is always someone available and on call for showings. Buyers and sellers get to know Lorrie, Dean and Clint, with one of them being the point person.

Dean Jacobs, raised in Damariscotta, was part of a family business on Main Street, and is proud to uphold that tradition. As a broker at Newcastle Realty, he shares his passion for the midcoast, the people who live and work here, and the natural beauty intrinsic to this area. Clint Miller grew up in Tenants Harbor, graduating from USM in 2002. His career in business took him to Florida and Kentucky until a recent move home to the Boothbay area. He has a passion to help people and the energy to match. Lorrie Zeiner has spent her entire career in real estate because she loves selling homes. Her attention to detail and constant contact throughout transactions places her in the forefront ofthe top producing agents in the area.

Team JMZ continues to increase their volume and revenue and transactions each year contributing to Newcastle Realty’s number one spot in the Damariscotta area in 2019. Newcastle Realty is located at 87 Main Street, Damariscotta. Team JMZ can be reached at 563-1003, extension 120 or by email: teamJMZ@cheneycompanies.com. Visit MyNewcastle.com for current listings.

Newcastle Realty Finishes Strong in 2019

Newcastle Realty completed another banner year in 2019 with 168 transactions and $43 Million in sales, putting them in the forefront of the Damariscotta area market. In spite of a very tight supply of for-sale inventory, the number of homes sold during 2019 is at a statistical dead heat with 2018, Maine’s best year ever for residential real estate sales. The number of Maine homes for sale is 13 percent lower than a year ago, which impacts sales volume. Most of the year-to-date 2019 property sales locally have occurred in Waldoboro (110), Boothbay (78), Wiscasset (78), Jefferson (80), Bristol (87), Boothbay Harbor (68), and Damariscotta (50). Slightly fewer sales have happened so far this year in Westport Island (19), Bremen (29), South Bristol (32), Dresden (25), Nobleboro (35), Edgecomb (20), Whitefield (30), Southport (20) and Newcastle (35). Towns seeing about a dozen or fewer sales include Alna (15) and Somerville (7).

President Dennis Hilton credits his team of twenty for their hard work and dedication to outstanding client satisfaction. Last year Debby Schling and Kirsten Ingram were the leaders in sales, each having sales in excess of $5,700,000. Debi Fox had sales in excess of $4,400,000, Sara Rogers, in excess of $4,000,000 and Dean Jacobs, Clint Miller and Lorrie Zeiner, Team JMZ, in excess of $9,300,000.

Cheney Financial Group Recognizes Outstanding Service at Awards Dinner

Dennis Hilton, CEO of Cheney Financial Group, and Suzanne Strachan, President of Cheney Insurance, hosted the annual celebration dinner at The 1812 Farm. The spirit of cooperation, comradery, and team-work by the entire team of 35 CFG associates was recognized. CFG, comprised of Newcastle Realty, Cheney Insurance and Newcastle Vacation Rentals are the leading providers of home, auto, business and life insurance, real estate services, and vacation cottage rentals to thousands of families in this area.
Strachan recognized Hilton for 35 years of service with this family-held firm. Hilton’s father started in the business 50 years ago, joined by Hilton’s mother, Brenda, who established herself as an iconic presence in the eyes of staff and clients, and who sadly passed away this year. Strachan remarked “ As our fearless leader of the Cheney Financial Group, Dennis is cutting edge, innovative, and his vision is always full of possibilities. His positive outlook keeps us grounded and hopeful.” Also recognized for five years of solid performance, was Holly Harris, the Cheney Personal Insurance Division Team Leader.  In addition, Harris was the recipient of the 2019 CFG Presidents Award for her willingness to face challenges with determination, humor and a positive attitude.
Key Contributor Awards were given to Jasmyn Rose for her ability to adapt in a meaningful way enhancing the team at Cheney Insurance and to Clint Miller for his outstanding service to Newcastle Realty’s team of brokers. Brokers Kirsten Ingram and Debbie Schling were recognized for having the highest current sales volume to date, of $5.37 million and $5.29 million, respectively. The Spotlight Award went to Kristy Battles for the exceptional value, service and positive attitude she brings to all three CFG companies. 
Guests and partners that were recognized for their contributions to Cheney Financial Group were Kim Traina, of Jumpstart Creative; Mike Dorr and his wife Jamie, of Burgess Computers; Tori Doucette with Acadia Lending; and Skip Lemar, CFG Facilties Manager. Names of guests were drawn to receive envelopes from the famous “Wall of Cash,” door prizes and gift baskets.
The 1812 Farm provided delicious hors d’ouevres and an exceptional full course dinner. The lively evening was capped with a contest where each table was provided a box containing hardhats for all, a foreman vest, a box of spaghetti, a bag of marshmallows and masking tape. Each team was challenged to build a structure utilizing those three materials, with the highest, free standing structure, winning. At the end of the alloted time, amongst alot of laughter and creative strategies, the winning table at 49 inches was led by Bill Byrnes. 
 
Ecumenical Food Pantry was the recipient of the many non-perishable food items donated that evening.

Helping to combat hunger in Lincoln County!

In the spirit of Community Giving, employees from Cheney Financial Group volunteered to help the Rotary and Lions Clubs of Damariscotta-Newcastle fight hunger in Lincoln County. One in seven persons is hungry in Lincoln County. The bell ringing season starts each November and runs through Christmas Eve. Volunteers are the difference between an empty kettle and one that raises enough to provide a family with groceries. All donations go directly to local Lincoln County Food Banks.

Cheney Financial Group, comprised of Newcastle Realty, Cheney Insurance and Newcastle Vacation Rentals, is committed to supporting our local communities and neighbors, in a variety of ways throughout the year, through an established Charitable Giving and Community Outreach Program.

 

December 2019 Real Estate Market Report

Maine single-family existing home values increased in November, while limited inventory led to a decrease in sales. According to Maine Listings, 123 fewer homes were sold in November 2019—a 7.59 percent decline from November of 2018. The statewide median sales price (MSP) hit $225,000, up 2.74 percent compared to November 2018. The MSP indicates that half of the homes were sold for more and half sold for less.

Statistics from November continue to reflect the up-and-down pattern for 2019. The reality is, even with November’s sales decline and the very tight supply of for-sale inventory, the number of homes sold during 2019 is at a statistical dead heat with 2018—Maine’s best year ever for residential real estate sales. The number of Maine homes for sale is 13 percent lower than a year ago, which impacts sales volume.

The National Association of Realtors reported a sales jump of 3.5 percent comparing November 2019 to November 2018; the national MSP rose 5.4 percent to $274,000 over that same time period. Sales in the Northeast decreased 1.4 percent while the regional MSP increased 3.9 percent to $301,700 comparing November 2019 to November 2018. We are expecting a strong winter market. Serious buyers are searching, and life transitions prompt the need to sell and buy homes year-round.

Newcastle Realty is wrapping up an excellent sales year. As of the date of this report, our brokers have closed 164 transaction sides with a total volume of $42,237,810—down slightly from our same Y-T-D numbers in 2018. In comparison, the local Sotheby’s office has booked $34,559,050 from 72 sides, and Drum and Drum Real Estate has sold $27,122,365 with 83 sides. We are pleased to remain the leading real estate firm in our area.

Most of the year-to-date 2019 property sales locally have occurred in Waldoboro (110), Boothbay (78), Wiscasset (78), Jefferson (80), Bristol (87), Boothbay Harbor (68), and Damariscotta (50). Slightly fewer sales have happened so far this year in Westport Island (19), Bremen (29), South Bristol (32), Dresden (25), Nobleboro (35), Edgecomb (20), Whitefield (30), Southport (20) and Newcastle (35). Towns seeing about a dozen or fewer sales include Alna (15) and Somerville (7).

There are currently 317 single-family homes for sale in Lincoln County (down from 380 last month), with 31 percent of those priced at or above $500,000. The 649 residential sales that have occurred in the past 365 days represent transactions in the range of under $100,000 (8%), $100,000-$249,999 (49%), $250,000-$499,999 (31%), $500,000-$999,999 (10%), and $1 million-plus (2%).

The current market absorption rates for Lincoln County homes is 3.8 months (under $100,000), 3.4 months ($100,000-$249,999), 6.8 months ($250,000-$499,999), 13.1 months ($500,000-$999,999), and 31.0 months ($1 million and up). This tells us how long it would take for existing inventories to be absorbed into the market at current rates of sales if no new listings were introduced.

Newcastle Realty tracks Lincoln County and statewide sales, along with other important metrics, which keeps our brokers fully informed of current market conditions and emerging trends as they serve buyer and seller client needs. Questions or comments may be directed to Dennis Hilton, President of Newcastle Realty at dennishilton@cheneycompanies.com or 207-380-3435.

  • Sales statistics based on information from the Maine Real Estate Information System, Inc. (d/b/a Maine Listings) for the period 1/1/19 through 12/24/19.

November 2019 Real Estate Market Report

The $224,900 median sales price of a single-family existing home in Maine in October 2019 was 4.6 percent higher than October 2018, according to data released by the Maine Association of Realtors. The MSP indicates that half of the homes were sold for more and half sold for less. Realtors also reported a record-breaking 1,845 sales for October—an increase of 0.71 percent compared to October 2018. Realtors across Maine report motivated and focused buyers searching for homes. Through October, the number of home sales statewide in 2019 has exceeded our best-ever (2018) by 0.8 percent.

The National Association of Realtors reported a 5.4 percent increase in single-family existing home sales on a national scale comparing October 2019 to October 2018. Prices jumped 6.2 percent to a national MSP of $273,600. Regionally, sales in the Northeast remained flat while prices rose 5.7 percent to $296,700, comparing October 2019 to October 2018. Sales volume remains steady. Median prices trending upward in some markets are indicative of tight for-sale inventory levels and the sustained historically low, and affordable, mortgage interest rates.

Newcastle Realty continues to enjoy a very good sales year. As of the date of this report, our brokers have closed 140 transaction sides with a total volume of $33,751,410—down slightly from our same Y-T-D numbers in 2018. In comparison, the local Sotheby’s office has booked $25,424,545 from 63 sides, and Drum and Drum Real Estate has sold $20,130,050 with 75 sides. We are pleased to remain among the leading real estate firms in our area.

Most of the year-to-date 2019 property sales locally have occurred in Waldoboro (102), Boothbay (71), Wiscasset (63), Jefferson (72), Bristol (77), Boothbay Harbor (63), and Damariscotta (48). Slightly fewer sales have happened so far this year in Westport Island (18), Bremen (22), South Bristol (28), Dresden (23), Nobleboro (28), Edgecomb (17), Whitefield (27), Southport (19) and Newcastle (29). Towns seeing about a dozen or fewer sales include Alna (14) and Somerville (7).

There are currently 380 single-family homes for sale in Lincoln County (down from 403 last month), with 30 percent of those priced at or above $500,000. The 643 residential sales that have occurred in the past 365 days represent transactions in the range of under $100,000 (8%), $100,000-$249,999 (49%), $250,000-$499,999 (32%), $500,000-$999,999 (9%), and $1 million-plus (2%).

The current market absorption rates for Lincoln County homes is 5.1 months (under $100,000), 3.2 months ($100,000-$249,999), 7.4 months ($250,000-$499,999), 16.6 months ($500,000-$999,999), and 38.7 months ($1 million and up). This tells us how long it would take for existing inventories to be absorbed into the market at current rates of sales if no new listings were introduced.

Newcastle Realty tracks Lincoln County and statewide sales, along with other important metrics, which keeps our brokers fully informed of current market conditions and emerging trends as they serve buyer and seller client needs. Questions or comments may be directed to Dennis Hilton, President of Newcastle Realty at dennishilton@cheneycompanies.com or 207-380-3435.

  • Sales statistics based on information from the Maine Real Estate Information System, Inc. (d/b/a Maine Listings) for the period 1/1/19 through 11/21/19.

October 2019 Real Estate Market Report

Consumer confidence bolstered sales of single-family existing homes in Maine last month. The Maine Association of Realtors released statistics today showing an 11.01 percent jump in sales during September 2019 compared to September 2018. Statewide, the median sales price (MSP) in September increased 6.4 percent to $228,750 compared to September 2018. The MSP indicates that half of the homes were sold for more and half sold for less.

September 2019 was a record-breaker with 1,866 sales statewide. Buyers are in the market and taking action. After a down-and-up year of real estate activity, a strong September has brought the total sales volume to 0.8 percent ahead of 2018—Maine’s best year.

Nationally, sales of single-family existing homes rose 3.9 percent comparing September 2019 to September 2018. According to the National Association of Realtors, the MSP for those homes increased 6.1 percent to $257,100. Regional sales in the Northeast are up 1.5 percent, and the regional MSP jumped 5.2 percent to $301,100 comparing September 2019 to September 2018.

Newcastle Realty continues to enjoy a very good sales year. As of the date of this report, our brokers have closed 126 transaction sides with a total volume of $30,621,435—down slightly from our same Y-T-D numbers in 2018. In comparison, the local Sotheby’s office has booked $24,501,620 from 60 sides, and Drum and Drum Real Estate has sold $16,498,050 with 63 sides. We are pleased to remain among the leading real estate firms in our area.

Most of the year-to-date 2019 property sales locally have occurred in Waldoboro (89), Boothbay (63), Wiscasset (56), Jefferson (61), Bristol (68), Boothbay Harbor (54), and Damariscotta (41). Slightly fewer sales have happened so far this year in Westport Island (17), Bremen (18), South Bristol (23), Dresden (18), Nobleboro (22), Edgecomb (16), Whitefield (22), Southport (18) and Newcastle (27). Towns seeing about a dozen or fewer sales include Alna (13) and Somerville (7).

There are currently 403 single-family homes for sale in Lincoln County (down from 445 last month), with 31 percent of those priced at or above $500,000. The 638 residential sales that have occurred in the past 365 days represent transactions in the range of under $100,000 (8%), $100,000-$249,999 (49%), $250,000-$499,999 (32%), $500,000-$999,999 (9%), and $1 million-plus (2%).

The current market absorption rates for Lincoln County homes is 4.0 months (under $100,000), 5.0 months ($100,000-$249,999), 7.9 months ($250,000-$499,999), 18.3 months ($500,000-$999,999), and 35.6 months ($1 million and up). This tells us how long it would take for existing inventories to be absorbed into the market at current rates of sales if no new listings were introduced.

Newcastle Realty tracks Lincoln County and statewide sales, along with other important metrics, which keeps our brokers fully informed of current market conditions and emerging trends as they serve buyer and seller client needs. Questions or comments may be directed to Dennis Hilton, President of Newcastle Realty at dennishilton@cheneycompanies.com or 207-380-3435.

  • Sales statistics based on information from the Maine Real Estate Information System, Inc. (d/b/a Maine Listings) for the period 1/1/19 through 10/22/19.

Cheney Financial Group Wraps Up Season’s Events Supporting Local Art, Music and Food!

Cheney Financial Group is comprised of Cheney Insurance, Newcastle Realty and Newcastle Vacation Rentals, all locally owned and managed by a group of dedicated employees. Together, and separately, all three companies have a strong commitment to supporting local businesses and bringing together community.

 

 

 

 

 

This summer, CFG hosted three Local Flavors events at Newcastle Realty that promoted local artists, musicians, food, brews and wine. Members of the community and employees enjoyed delicious food and drink offerings, networking, talented musicians and artists. Last week, blues guitarist, songwriter, and singer Paul Curtis entertained with a great variety and array of pieces. Delicious hors d’oeurvres, tastings of two special signature cocktails, local beer and wine selections were provided by Cerina Leeman of The BPL Cocktail Bar and The Harbor Room.

 

 

Smokey McKeen of Pemaquid Oyster Co. supplied and shucked ice cold oysters that had been harvested that morning from Damariscotta River. Winners of donated raffle items were Lee Simard for a gift card from Bath Savings, Terri Herald for a gift card from Pea Pod Jewelry, Lynn Moller for a gift bag from Bath Savings, and Debi Fox for a gift card from Best Thai. The artists exhibit “Seven Days on Monhegan” with pastels and paintings by Susan Tilton Pecora and Kim Skillin Traina will continue to be on display at Newcastle Realty, 87 Main Street, Damariscotta through the end of October. For more information, contact Kristy Battles, at 207.563.1003 or, follow us on Facebook.

September 2019 Real Estate Market Report

Statewide August real estate sales indicate that 2019 is on track to earn a spot among record years for single-family Maine home sales. Statistics released today by the Maine Association of Realtors show a 3.19 percent rise in sales compared to August 2018. Prices are also rising; the statewide median sales price (MSP) increased 4.55 percent to $230,000 compared to August 2018. The MSP indicates that half of the homes were sold for more and half sold for less.

It has been a strong real estate year for much of Maine and good quality for-sale inventory is moving quickly. With low mortgage interest rates and motivated buyers in the marketplace, now is a good time to list and sell. Please reach out to a Newcastle Realty agent with your questions or to discuss the value of your property.

The National Association of Realtors reported a 2.9 percent increase in sales nationwide and an MSP bump of 4.7 percent in the past year. Regionally, single-family home sales in the Northeastern region were up 1.4 percent, while the regional MSP eased 0.3 percent last month to $303,500.

Newcastle Realty continues to enjoy a very good sales year. As of the date of this report, our brokers have closed 112 transaction sides with a total volume of $26,738,950—down slightly from our same Y-T-D numbers in 2018. In comparison, the local Sotheby’s office has booked $19,900,870 from 51 sides, and Drum and Drum Real Estate has sold $16,088,590 with 61 sides. We are pleased to remain among the leading real estate firms in our area.

Most of the year-to-date 2019 property sales locally have occurred in Waldoboro (74), Boothbay (60), Wiscasset (49), Jefferson (57), Bristol (55), Boothbay Harbor (42), and Damariscotta (37). Slightly fewer sales have happened so far this year in Westport Island (15), Bremen (18), South Bristol (21), Dresden (16), Nobleboro (20), Edgecomb (16), Whitefield (20), Southport (15) and Newcastle (24). Towns seeing just ten or fewer sales include Alna (10) and Somerville (6).

There are currently 435 single-family homes for sale in Lincoln County (down slightly from 446 last month, but the exact same number we had last September), with 30 percent of those priced at or above $500,000. The 635 residential sales that have occurred in the past 365 days represent transactions in the range of under $100,000 (9%), $100,000-$249,999 (48%), $250,000-$499,999 (33%), $500,000-$999,999 (8%), and $1 million-plus (2%).

The current market absorption rates for Lincoln County homes is 3.7 months (under $100,000), 5.6 months ($100,000-$249,999), 8.9 months ($250,000-$499,999), 20.0 months ($500,000-$999,999), and 34.0 months ($1 million and up). This tells us how long it would take for existing inventories to be absorbed into the market at current rates of sales if no new listings were introduced.

Newcastle Realty tracks Lincoln County and statewide sales, along with other important metrics, which keeps our brokers fully informed of current market conditions and emerging trends as they serve buyer and seller client needs. Questions or comments may be directed to Dennis Hilton, President of Newcastle Realty at dennishilton@cheneycompanies.com or 207-380-3435.

  • Sales statistics based on information from the Maine Real Estate Information System, Inc. (d/b/a Maine Listings) for the period 1/1/19 through 9/19/19.

Local Flavors Summer Series- A Huge Success!

Cheney Financial Group hosted the second of three fun summer events for the community filled with laughter and networking on Thursday, August 15. The events support and showcase local artists, local musicians, local food, local brews and wine.  Delicious hors d’oeuvres and tastings of Oxbow and Allagash beer and Cellardoor wine were provided by Lurie Sprague-Palino of Seacoast Catering and Lobsterbakes and Damariscotta River oysters were supplied by Pemaquid Oyster Co.  Artist Susan Bartlett Rice exhibited her beautiful paintings, which will be on display through September 8.  Local musicians, Chris Hight and Annette Rundall, provided fun music under the tent.  Watch for news on our next event, Thursday, September 12, showcasing a new line-up of local art, music, food and brew!

Cheney Financial Group is comprised of Cheney Insurance, Newcastle Realty and Newcastle Vacation Rentals. Our locally grown, locally owned companies have a strong commitment to supporting local businesses and bringing community together.

August 2019 Real Estate Market Update

Sales of single-family existing homes in Maine remain stable and positive. Maine Listings today reported a 0.16 percent rise in sales comparing July 2019 to July 2018. The median sales price for the 1,866 homes sold in July reached $230,000, an increase of 2.22 percent compared to July 2018. The MSP indicates that half of the homes were sold for more and half sold for less.

For-sale inventory has crept up slightly, though competition for entry-level homes remains high. With an increase in available listings and very affordable mortgage interest rates, we expect markets to remain steady.

According to the National Association of Realtors, sales across the country rose 1.0 percent in July. The national MSP increased 4.5 percent to $284,000. Regionally, sales in the Northeast dipped 4.3 percent in the past year, and the MSP reached $305,800—down one percent. Sales volume has been up-and-down over the first seven months of 2019 and is running only 1.6 percent below the comparable time period for 2018, Maine’s record-breaking year. Real estate continues to be a great long-term financial investment.

Newcastle Realty has experienced a very good first half of 2019. As of the date of this report, our brokers have closed 96 transaction sides with a total volume of $22,981,835—down slightly from our same Y-T-D sales in 2018. By comparison, the local Sotheby’s office has booked $16,385,870 from 46 sides, and Drum and Drum Real Estate has sold $15,530,710 with 59 sides. We are pleased to remain among the leading real estate firms in our area.

Most of the year-to-date 2019 property sales locally have occurred in Waldoboro (64), Boothbay (53), Wiscasset (43), Jefferson (48), Bristol (44), Boothbay Harbor (33), and Damariscotta (35). Slightly fewer sales have happened so far this year in Westport Island (14), Bremen (16), South Bristol (20), Dresden (14), Southport (12), Nobleboro (18), Edgecomb (14), Whitefield (16) and Newcastle (23). Towns seeing just single-digit sales are Alna (8) and Somerville (3).

There are currently 446 single-family homes for sale in Lincoln County (down slightly from 452 last month), with 30 percent of those priced at or above $500,000. The 635 residential sales that have occurred in the past 365 days represent transactions in the range of under $100,000 (8%), $100,000-$249,999 (49%), $250,000-$499,999 (32%), $500,000-$999,999 (9%), and $1 million-plus (2%).

The current market absorption rates for Lincoln County homes is 3.9 months (under $100,000), 5.4 months ($100,000-$249,999), 9.6 months ($250,000-$499,999), 18.9 months ($500,000-$999,999), and 37.3 months ($1 million and up). This tells us how long it would take for existing inventories to be absorbed into the market at current rates of sales if no new listings were introduced.

Newcastle Realty tracks Lincoln County and statewide sales, along with other important metrics, which keeps our brokers fully informed of current market conditions and emerging trends as they serve buyer and seller client needs. Questions or comments may be directed to Dennis Hilton, President of Newcastle Realty at dennishilton@cheneycompanies.com or 207-380-3435.

  • Sales statistics based on information from the Maine Real Estate Information System, Inc. (d/b/a Maine Listings) for the period 1/1/19 through 8/22/19.

Local Flavors Summer Series Event September 12 at Newcastle Realty

Cheney Financial Group is hosting the third of three fun summer events Thursday, September 12, from 4:30 to 6:00. The events support and showcase local artists, local musicians, local food, local brews and wine.   Artists Sandra Dunn, Susan Pecora, and Kim Traina will exhibit their work and live music will be performed by the ever popular Cami & The Rogues. Delicious edibles and signature cocktails will be provided by The BPL Cocktail. Sample Damariscotta River oysters supplied by Pemaquid Oyster Co. Local businesses will be supplying raffle items. We invite the community to join us in supporting local businesses, art and music at Newcastle Realty, 87 Main Street, Damariscotta. 

John Traina, Newcastle Marine and Sam from Pemaquid Oyster Co. shuck 300 oysters for Local Flavors Summer Series

 

Cheney Financial Group is comprised of Cheney Insurance, Newcastle Realty and Newcastle Vacation Rentals. Our locally grown, locally owned companies have a strong commitment to supporting local businesses and bringing together community. For more information, contact Kristy Battles, at 207.563.1003 or, follow us on Facebook.

July 2019 Real Estate Market Report

2019 YEAR-TO-DATE MARKET AND SALES UPDATE *

Sales of single-family existing homes in Maine eased 7.18 percent comparing June 2019 to June 2018, according to Maine Listings. Values, however, increased 5.09 percent over that same time period to a median sales price (MSP) of $239,085. The MSP indicates that half of the homes were sold for more and half sold for less.

After a slow start to 2019, the number of single-family real estate sales bounced upward in April and May, but declined again in June. For the first six months of the year, the number of transactions is two percent below the comparable time period for 2018, and the for-sale inventory is nearly six percent below last years’ levels.

Sales of single-family existing homes nationwide dipped 1.7 percent comparing June 2019 to June 2018, and the national MSP increased 4.5 percent to $288,900 in June. According to the National Association of Realtors, sales in the Northeast declined 4.2 percent, while the regional MSP of $321,200 reflects a 4.8 percent rise in values compared to June 2018.

Newcastle Realty is having a very good first half of 2019. As of the date of this report, our brokers have closed 74 transaction sides with a total volume of $18,411,855—down slightly from our same Y-T-D sales in 2018. By comparison, the local Sotheby’s office has booked $14,457,070 from 39 sides, and Drum and Drum Real Estate has sold $13,209,710 with 50 sides. We are pleased to remain among the leading real estate firms in our area.

Most of the year-to-date 2019 property sales locally have occurred in Waldoboro (51), Boothbay (44), Wiscasset (30), Jefferson (43), Bristol (36), Boothbay Harbor (27), and Damariscotta (33). Slightly fewer sales have happened so far this year in Westport Island (13), Bremen (13), South Bristol (18), Dresden (11), Nobleboro (15), Edgecomb (10), Whitefield (12) and Newcastle (14). Towns seeing just single-digit sales are Alna (4), Southport (9), and Somerville (2).

There are currently 452 single-family homes for sale in Lincoln County (up sharply from 350 last month, but in line with the 446 residential listings last June), with 28 percent of those priced at or above $500,000. The 634 residential sales that have occurred in the past 365 days represent transactions in the range of under $100,000 (9%), $100,000-$249,999 (49%), $250,000-$499,999 (31%), $500,000-$999,999 (9%), and $1 million-plus (2%).

The current market absorption rates for Lincoln County homes is 3.9 months (under $100,000), 5.2 months ($100,000-$249,999), 10.8 months ($250,000-$499,999), 19.0 months ($500,000-$999,999), and 32.4 months ($1 million and up). This tells us how long it would take for existing inventories to be absorbed into the market at current rates of sales if no new listings were introduced.

Newcastle Realty tracks Lincoln County and statewide sales, along with other important metrics, which keeps our brokers fully informed of current market conditions and emerging trends as they serve buyer and seller client needs. Questions or comments may be directed to Dennis Hilton, President of Newcastle Realty at dennishilton@cheneycompanies.com or 207-380-3435.

  • Sales statistics based on information from the Maine Real Estate Information System, Inc. (d/b/a Maine Listings) for the period 1/1/19 through 7/23/19.

June 2019 Market and Sales Update

The single-family existing home market in Maine remains healthy as the summer sales season is in full swing. According to Maine Listings, Realtors reported selling 6.32 percent more homes in May 2019 compared to May 2018. The Median Sales Price for the state also jumped 4.59 percent to $230,000. The MSP indicates that half of the homes were sold for more and half sold for less.

May was a strong month for residential real estate sales in Maine and, after a slow start to 2019, we’re pulling even to 2018 levels. Sustained job security and low unemployment rates, healthy consumer finances, and lower mortgage interest rates have fueled real estate markets across Maine.

The National Association of Realtors says nationwide sales dipped 0.8 percent, while the national MSP increased 4.6 percent to $280,200 in May. Sales in the Northeast rose 4.7 percent while the regional MSP jumped 6.6 percent to $304,100.

Newcastle Realty is having a good first half of 2019. As of the date of this report, our brokers have closed 57 transaction sides with a total volume of $14,935,855—down slightly from our same Y-T-D sales in 2018. By comparison, the local Sotheby’s office has booked $12,507,070 from 35 sides, and Drum and Drum Real Estate has sold $12,072,210 with 45 sides. We are pleased to remain among the leading real estate firms in our area.

Most of the year-to-date 2019 property sales in the local area have occurred in Waldoboro (40), Boothbay (35), Wiscasset (26), Jefferson (36), Bristol (28), Boothbay Harbor (22), and Damariscotta (26). Slightly fewer sales have happened so far this year in Westport Island (9), Bremen (12), South Bristol (16), Dresden (11), Nobleboro (13), and Newcastle (14). Towns seeing just single-digit sales are Alna (4), Southport (8), Edgecomb (7), and Whitefield (9). Those that show one or no sales include Somerville (1), and Monhegan Island (0).

There are currently 350 single-family homes for sale in Lincoln County (up from 338 last month, but down from 445 last June), with 31 percent of those priced at or above $500,000. The 643 residential sales that have occurred in the past 365 days represent transactions in the range of under $100,000 (9%), $100,000-$249,999 (48%), $250,000-$499,999 (31%), $500,000-$999,999 (10%), and $1 million-plus (2%).

The current market absorption rates for Lincoln County homes is 3.4 months (under $100,000), 3.7 months ($100,000-$249,999), 7.9 months ($250,000-$499,999), 15.4 months ($500,000-$999,999), and 28.7 months ($1 million and up). This tells us how long it would take for existing inventories to be absorbed into the market at current rates of sales if no new listings were introduced.

Newcastle Realty tracks Lincoln County and statewide sales, along with other important metrics, which keeps our brokers fully informed of current market conditions and emerging trends as they serve buyer and seller client needs. Questions or comments may be directed to Dennis Hilton, President of Newcastle Realty at dennishilton@cheneycompanies.com or 207-380-3435.

  • Sales statistics based on information from the Maine Real Estate Information System, Inc. (d/b/a Maine Listings) for the period 1/1/19 through 6/21/19.

May 2019 Real Estate Market Update

Maine Realtors report strong sales and rising home prices for April 2019. Maine Listings released statistics today indicating a 4.8 percent increase in sales of single-family existing homes (compared to April 2018). The median sales price rose 5.0 percent to $210,000. The MSP indicates that half of the homes were sold for more and half sold for less.

After a few months of decline, the April and rolling quarter data has tilted back into positive territory with gains in units sold and median sold prices. For sale inventory remains limited in most markets, which has kept values healthy, especially where job growth is occurring.

Nationally, sales eased 4.0 percent comparing April 2019 to April 2018. According to the National Association of Realtors, the national MSP of $269,300 reflects an increase of 3.7 percent. Sales in the regional Northeastern states decreased 4.5 percent in April, while the regional MSP rose 0.9 percent from April 2019 to April 2018.

Newcastle Realty has had a good start to 2019. As of the date of this report, our brokers have closed 45 transaction sides with a total volume of $11,248,705—down slightly from our same Y-T-D sales in 2018. By comparison, Tindal & Callahan has booked $13,425,500 from 38 sides, and Drum and Drum Real Estate has sold $10,489,625 with 38 sides. We are pleased to remain among the leading real estate firms in our area.

Most of the year-to-date 2019 property sales in the local area have occurred in Waldoboro (31), Boothbay (28), Wiscasset (23), Jefferson (22), Bristol (21), Boothbay Harbor (13), and Damariscotta (15). Slightly fewer sales have happened so far this year in Westport Island (8), Bremen (8), South Bristol (11), Dresden (8), Edgecomb (6), Nobleboro (11), and Newcastle (11). Towns seeing just single-digit sales are Alna (2), Southport (4), and Whitefield (6). Those that show one or no sales include Somerville (1), and Monhegan Island (0).

There are currently 338 single-family homes for sale in Lincoln County (up considerably from 263 last month, but down from 374 last May), with 31 percent of those priced at or above $500,000. The 635 residential sales that have occurred in the past 365 days represent transactions in the range of under $100,000 (9%), $100,000-$249,999 (48%), $250,000-$499,999 (31%), $500,000-$999,999 (10%), and $1 million-plus (2%).

The current market absorption rates for Lincoln County homes is 4.0 months (under $100,000), 4.1 months ($100,000-$249,999), 7.0 months ($250,000-$499,999), 14.1 months ($500,000-$999,999), and 26.1 months ($1 million and up). This tells us how long it would take for existing inventories to be absorbed into the market at current rates of sales if no new listings were introduced.

Newcastle Realty tracks Lincoln County and statewide sales, along with other important metrics, which keeps our brokers fully informed of current market conditions and emerging trends as they serve buyer and seller client needs. Questions or comments may be directed to Dennis Hilton, President of Newcastle Realty at dennishilton@cheneycompanies.com or 207-380-3435.

  • Sales statistics based on information from the Maine Real Estate Information System, Inc. (d/b/a Maine Listings) for the period 1/1/19 through 5/21/19.

Spacious Custom Cape in Damariscotta!

Don’t miss making this your next family home…

at 66 Back Meadow Road.

Extended Cape privately sited, conveniently located and beautifully built by one of the area’s finest local builders. The home features an open concept kitchen/dining/living area, first floor master bedroom suite, den or office, three large bedrooms on the second floor and a huge family or entertainment room above the heated garage. Comfortable, sun-filled home with a mudroom, attached two car garage, tremendous space & potential in the basement. 

MLS#1409647

2019 Year-to-Date Market and Sales Update

Mirroring national statistics, sales of Maine’s existing single-family homes dipped in March. According to the Maine Association of Realtors, Realtors reported a 3.11 percent decline in sales last month with 1,120 homes changing hands—36 fewer than March of 2018. The median sales price for homes sold in March 2019 eased 0.94 percent to $210,000, down slightly from $212,000 in March 2018. The MSP indicates that half of the homes were sold for more and half sold for less.

For the fourth consecutive month, residential sales volume has shown decreases compared to figures from a year ago but are the third highest March sales volume during the past 17 years. Typically, with a decline in the number of sales, we’d see an increase in the for-sale inventory, but that’s not the case this month with sales down three percent and for for-sale inventory down five-and-a-half- percent. Buyers are in the marketplace but may not be finding the home that meets their needs due to the tight supply.

The National Association of Realtors released statistics showing a 4.7 percent decrease in sales nationwide for single-family existing homes, and an increase of 3.8 percent in the national MSP to $261,100 comparing March 2019 to March 2018. Home sales in the Northeast were down 1.5 percent and the regional MSP rose 2.5 percent to $277,500 over that same time period.

Newcastle Realty has had a good start to 2019. As of April 22, 2019, our brokers have closed 38 transaction sides with a total volume of $9,334,630—down slightly from our same Y-T-D sales in 2018. By comparison, Tindal & Callahan has booked $8,911,000 from 26 sides, and Drum and Drum Real Estate has sold $4,851,815 with 20 sides. We are pleased to remain the #1 real estate firm in our area.

Most of the year-to-date 2019 property sales in the local area have occurred in Waldoboro (25), Boothbay (20), Jefferson (17), Bristol (16), Boothbay Harbor (12), and Damariscotta (11). Slightly fewer sales have happened so far this year in Westport Island (7), Bremen (6), Wiscasset (7), South Bristol (7), Dresden (6), Edgecomb (5), Nobleboro (8), and Newcastle (7). Towns seeing just two or four sales are Alna (2), Southport (2), and Whitefield (4). Those that show one or no sales include Somerville (1), and Monhegan Island (0).

There are currently 263 single-family homes for sale in Lincoln County (up from 245 last month), with 33 percent of those priced at or above $500,000. The 635 residential sales that have occurred in the past 365 days represent transactions in the range of under $100,000 (9%), $100,000-$249,999 (49%), $250,000-$499,999 (30%), $500,000-$999,999 (9%), and $1 million-plus (3%).

The current market absorption rates for Lincoln County homes is 3.6 months (under $100,000), 2.6 months ($100,000-$249,999), 5.8 months ($250,000-$499,999), 11.7 months ($500,000-$999,999), and 26.2 months ($1 million and up). This tells us how long it would take for existing inventories to be absorbed into the market at current rates of sales if no new listings were introduced.

Newcastle Realty tracks Lincoln County and statewide sales, along with other important metrics, which keeps our brokers fully informed of current market conditions and emerging trends as they serve buyer and seller client needs. Questions or comments may be directed to Dennis Hilton, President of Newcastle Realty at dennishilton@cheneycompanies.com or 207-380-3435.

  • Sales statistics based on information from the Maine Real Estate Information System, Inc. (d/b/a Maine Listings) for the period 1/1/19 through 4/22/19.

March 2019 Market and Sales Update

Sales of single-family existing homes in Maine eased slightly, while prices rose 2.85 percent comparing February 2019 to February 2018. The Maine Association of Realtors released statistics indicating a 0.49 percent decline in sales during the month of February 2019 compared to February 2018. The median sales price for the 818 homes sold statewide reached $200,000. The MSP indicates that half of the homes were sold for more and half sold for less.

Conversations with Realtors across Maine and a review of the statistics indicate that we may be shifting to a more balanced real estate market. Sales volume over the past few months has shown decreases compared to figures from a year ago. However, for-sale inventory continues to be tight—four percent lower than February of 2018. While slightly decreasing, the February 2019 data shows a comfortable pace—the third highest February sales volume since 2011.

According to the National Association of Realtors, sales across the country were down 1.4 percent while the national MSP of $251,400 represents a 3.6 percent increase. Regionally, sales in the Northeast increased 1.5 percent and the MSP rose 3.8 percent to $272,900.

Newcastle Realty has had a good start to 2019. As of March 22, 2019, our brokers have closed 25 transaction sides with a total volume of $5,760,130—down from our same Y-T-D sales in 2018. By comparison, Tindal & Callahan has booked $4,394,000 from 17 sides and Drum and Drum Real Estate has sold $3,023,500 with 14 sides. We are pleased to remain the #1 real estate firm in our area.

Most of the year-to-date 2019 property sales in the local area have occurred in Waldoboro (15), Wiscasset (10), Boothbay (15), Jefferson (10), and Bristol (11). Slightly fewer sales have happened so far this year in Damariscotta (8), Westport Island (5), Boothbay Harbor (8), Bremen (5), South Bristol (4), Dresden (5), Edgecomb (4), Nobleboro (6), and Newcastle (5). Towns seeing just one or two sales are Alna (2) and Whitefield (2). Those that have yet to show any sales include Southport, Somerville, and Monhegan Island.

There are currently 245 single family homes for sale in Lincoln County (down from 254 last month), with 32 percent of those priced at or above $500,000. The 620 residential sales that have occurred in the past 365 days represent transactions in the range of under $100,000 (9%), $100,000-$249,999 (49%), $250,000-$499,999 (31%), $500,000-$999,999 (9%), and $1 million-plus (2%).

The current market absorption rates for Lincoln County homes is 3.0 months (under $100,000), 2.6 months ($100,000-$249,999), 5.5 months ($250,000-$499,999), 11.3 months ($500,000-$999,999), and 26.4 months ($1 million and up). This tells us how long it would take for existing inventories to be absorbed into the market at current rates of sales if no new listings were introduced.

Newcastle Realty tracks Lincoln County and statewide sales, along with other important metrics, which keeps our brokers fully informed of current market conditions and emerging trends as they serve buyer and seller client needs. Questions or comments may be directed to Dennis Hilton, President of Newcastle Realty at dennishilton@cheneycompanies.com or 207-380-3435.

  • Sales statistics based on information from the Maine Real Estate Information System, Inc. (d/b/a Maine Listings) for the period 1/1/19 through 3/22/19.

February 2019 Market and Sales Update

Home values are holding steady in Maine, while sales during the month of January 2019 declined compared to January 2018. According to Maine Listings, sales of single-family existing homes eased 12.9 percent last month, compared to January one year ago. Median sales prices (MSP), however, remain unchanged at $200,000. The MSP indicates that half of the homes were sold for more and half sold for less.

Time will tell how much of the January and rolling quarter decreases are attributable to the longest partial government shutdown in U.S. history, which ended on January 25th. The shutdown delayed or completely suspended some real estate transactions that were dependent on federal government-guaranteed loans.

The National Association of Realtors today announced a sales decline of 8.4 percent and an MSP increase of 3.1 percent to $249,400 comparing January 2019 to January 2018. The regional Northeast experienced a 1.4 percent decrease in sales, while the regional MSP rose 0.4 percent to $270,000 over that same time period.

Newcastle Realty has had a very good start to 2019. As of February 22, 2019, our brokers have closed 15 transaction sides with a total volume of $4,096,020—down from our same Y-T-D sales in 2018. By comparison, Tindal & Callahan has booked $3,204,000 from 9 sides and Drum and Drum Real Estate has sold $1,342,000 with 8 sides. We are pleased to remain the #1 real estate firm in our area.

Most of the year-to-date 2019 property sales in the local area have occurred in Waldoboro (7), Wiscasset (4), Westport Island (5), Boothbay (7), Jefferson (6), and Bristol (6). Slightly fewer sales have happened so far this year in Damariscotta (2), Boothbay Harbor (3), Bremen (4), Edgecomb (3), Nobleboro (5), and Newcastle (4). Towns seeing just one or two sales are Alna (2), South Bristol (1), and Dresden (2). Those that have yet to show any sales include Whitefield, Southport, Somerville, and Monhegan Island.

There are currently 254 single family homes for sale in Lincoln County (down from 314 last month), with 29 percent of those priced at or above $500,000. The 614 residential sales that have occurred in the past 365 days represent transactions in the range of under $100,000 (10%), $100,000-$249,999 (48%), $250,000-$499,999 (32%), $500,000-$999,999 (9%), and $1 million-plus (1%).

The current market absorption rates for Lincoln County homes is 4.0 months (under $100,000), 4.6 months ($100,000-$249,999), 7.5 months ($250,000-$499,999), 15.5 months ($500,000-$999,999), and 34.6 months ($1 million and up). This tells us how long it would take for existing inventories to be absorbed into the market at current rates of sales if no new listings were introduced.

Newcastle Realty tracks Lincoln County and statewide sales, along with other important metrics, which keeps our brokers fully informed of current market conditions and emerging trends as they serve buyer and seller client needs. Questions or comments may be directed to Dennis Hilton, President of Newcastle Realty at dennishilton@cheneycompanies.com or 207-380-3435.

  • Sales statistics based on information from the Maine Real Estate Information System, Inc. (d/b/a Maine Listings) for the period 1/1/19 through 2/22/19.

Historic Glidden Street Home offered by Newcastle Realty!

Welcome home to the “Wee Hoose”…

at 15 Glidden Street, Newcastle.

This 1820 cape is located on historic Glidden Street and is a stones throw away from downtown Damariscotta. Enjoy area shopping or dine at local favorite pubs and restaurants! This four bedroom three and a half bathroom cape sits on the banks on the Damariscotta River. It offers a light filled eat-in kitchen, wide pumpkin pine floors, four season sun room and a studio apartment located in the basement with a separate entrance. This beautiful property is being sold fully furnished and is ready for you to call home or use as a rental property.

  
MLS#1376849

Waterfront Home on Christmas Cove offered by Newcastle Realty!

Enjoy mesmerizing views of Christmas Cove at 24 Prescott Road, South Bristol. “Port O’ Call,” a magical Christmas Cove year-round home features a large deck overlooking the cove, new kitchen with high end appliances, a glassed sun room and spectacular views from every room. On chilly days, cozy up to the stone fireplace while still keeping an eye on the cove. Completely renovated in 2013/14, including a new septic system and water filtration system. Small lot so you can spend your time enjoying summer activities or just relaxing on the deck. Perfect second home or full time home. 

Christmas Cove is a great destination for yachters as part of your east west passage in Maine’s Midcoast, on your way between Boothbay and Pemaquid Point. Truly a magical and picturesque place!

October 2018 Market and Sales Report

Realtors across Maine report healthy long-term activity in most markets, despite a dip in sales during September. According to Maine Listings, sales of single-family existing homes eased 5.14 percent comparing September 2018 to September 2017. The value of those homes, tracked statistically by the Median Sales Price (MSP), indicates a rise in home values of 3.75 percent to an MSP of $215,000. The MSP indicates that half of the homes were sold for more and half for less.

While the September sales numbers show a decrease statewide, the rolling quarter sales are up 3.4 percent and year-to-date sales are up 2.5 percent compared to 2017. Real estate values continue to show a strong positive trend.

Nationally, sales of single-family existing homes nationwide decreased 4.0 percent in the past year, and reports released today by the National Association of REALTORS show a 4.6 percent increase in the national MSP of $260,500. Regionally, sales in the Northeast declined 5.6 percent, while the regional MSP increased 4.1 percent to $286,200.

Newcastle Realty continues to have a strong 2018 selling season. As of October 19, 2018, our brokers have closed 134 transaction sides with a total volume of $33,508,201—up 8.2 percent over our same Y-T-D sales in 2017. By comparison, Sotheby’s Legacy Properties has booked $22,835,550 from 51 sides and Drum and Drum Real Estate has sold $20,754,865 with 62 sides. We are pleased to remain the #1 real estate firm in our area.

Most of the year-to-date 2018 property sales in the local area have occurred in Waldoboro (82), Wiscasset (76), Boothbay (64), Jefferson (43), and Bristol (68). Slightly fewer sales have happened so far this year in Damariscotta (33), Boothbay Harbor (37), Edgecomb (21), Westport Island (24), Whitefield (23), Nobleboro (25), and Newcastle (31). Towns showing around a dozen-plus sales include Bremen (15), South Bristol (18), Southport (14), Somervile (12), and Dresden (13). Towns seeing just single digit sales are Alna (4) and Monhegan Island (1).

There are currently 414 single family homes for sale in Lincoln County (down from 435 last month), with 30 percent of those priced at or above $500,000. The 618 residential sales that have occurred in the past 365 days represent transactions in the range of under $100,000 (11%), $100,000-$249,999 (46%), $250,000-$499,999 (31%), $500,000-$999,999 (10%), and $1 million-plus (2%).

The current market absorption rates for Lincoln County homes is 4.4 months (under $100,000), 5.3 months ($100,000-$249,999), 9.0 months ($250,000-$499,999), 16.2 months ($500,000-$999,999), and 46.5 months ($1 million and up). This tells us how long it would take for existing inventories to be absorbed into the market at current rates of sales if no new listings were introduced.

Newcastle Realty tracks Lincoln County and statewide sales, along with other important metrics, which keeps our brokers fully informed of current market conditions and emerging trends as they serve buyer and seller client needs. Questions or comments may be directed to Dennis Hilton, President of Newcastle Realty at dennishilton@cheneycompanies.com or 207-380-3435.

  • Sales statistics based on information from the Maine Real Estate Information System, Inc. (d/b/a Maine Listings) for the period 1/1/18 through 10/19/18.

September 2018 Market and Sales Update

Strong sales continue in Maine’s single-family existing home market. According to Maine Listings, REALTORS sold 2,072 homes in August, equaling a 5.88 percent sales increase compared to August 2017. The median sales price (MSP) for those homes increased 6.80 percent to $220,000. The MSP indicates that half of the homes were sold for more and half for less.

The fourth quarter is a strong time for real estate transactions. Currently, there are more than 10,000 active for-sale residential listings statewide, with more coming onto the market every day. Buyers and sellers want to be settled before the holidays and take advantage of any tax benefits prior to year’s end.

Nationally, sales dipped 1.0 percent over the past year, while the MSP increased 4.9 percent to $267,300. The regional Northeast experienced a 2.7 percent sales decrease, and the MSP rose 2.8 percent to $292,800. REALTORS across Maine report that the availability of for-sale inventory continues to slow prospective buyers, yet sales through the first eight months of 2018 are nearly four percent ahead of the same time period in 2017. To date, 2018 has been a banner year for real estate.

Newcastle Realty has had a strong 2018 selling season. As of September 21, 2018, our brokers have closed 121 transaction sides with a total volume of $29,385,201—up 3.6 percent over our same Y-T-D sales in 2017. By comparison, Tindal and Callahan has posted 98 sides for $31,469,771 in volume, Drum and Drum Real Estate has sold $18,554,665 with 57 sides, and Sotheby’s Legacy Properties has booked $17,431,050 from 41 sides. We are proud to remain a leading firm in Lincoln County.

Most of the year-to-date 2018 property sales in the local area have occurred in Waldoboro (71), Wiscasset (72), Boothbay (52), Jefferson (36), and Bristol (56). Slightly fewer sales have happened so far this year in Damariscotta (30), Boothbay Harbor (32), Edgecomb (19), Westport Island (21), Whitefield (21), Nobleboro (23), and Newcastle (27). Towns showing around a dozen-plus sales include Bremen (15), South Bristol (17), Southport (12), and Dresden (13). Towns seeing just single digit sales are Somerville (9), Alna (3), and Monhegan Island (1).

There are currently 435 single family homes for sale in Lincoln County (down from 456 last month), with 29 percent of those priced at or above $500,000. The 619 residential sales that have occurred in the past 365 days represent transactions in the range of under $100,000 (11%), $100,000-$249,999 (48%), $250,000-$499,999 (29%), $500,000-$999,999 (10%), and $1 million-plus (2%).

The current market absorption rates for Lincoln County homes is 3.6 months (under $100,000), 5.8 months ($100,000-$249,999), 9.6 months ($250,000-$499,999), 17.4 months ($500,000-$999,999), and 54.0 months ($1 million and up). This tells us how long it would take for existing inventories to be absorbed into the market at current rates of sales if no new listings were introduced.

Newcastle Realty tracks Lincoln County and statewide sales, along with other important metrics, which keeps our brokers fully informed of current market conditions and emerging trends as they serve buyer and seller client needs. Questions or comments may be directed to Dennis Hilton, President of Newcastle Realty at dennishilton@cheneycompanies.com or 207-380-3435.

  • Sales statistics based on information from the Maine Real Estate Information System, Inc. (d/b/a Maine Listings) for the period 1/1/18 through 9/21/18.

Picturesque cottage in New Harbor offered by Newcastle Realty!

Dine or just unwind on the turreted front porch…

at 154 State Route 32, New Harbor.

Picturesque, shingle-style cottage with unobstructed views of the ocean! Here is the all-season home you have dreamed about! Built to perfection with tile and wood floors, granite and soapstone counters, fieldstone fireplace and spectacular trim and finish work. Enjoy a bedroom and bath on both floors and  library off master upstairs. Full basement & two car garage offers great storage. Small waterfront lot across the street included, perfect spot to watch the boating activity coming in and out of the harbor. Walk to lunch and dinner at several locations close by. All of the amenities of the Pemaquid Peninsula, including beach and lighthouse, are just minutes away. Winter or summer, this home will make you smile!

MLS#1364958

August 2018 Market and Sales Update

Maine experienced solid gains in both sales prices and sales volume for single-family home sales during the month of July. Maine Listings reported that 1,864 homes changes hands last month—an increase of 9.65 percent from the same period last year—and the median sales price jumped 9.22 percent to $225,000. The MSP indicates that half of the homes were sold for more and half for less.

For-sale inventory is coming onto the market, but statewide we’re seeing 12 percent fewer homes for sale than a year ago. Pricing is related to these market forces; home prices continue to rise, which is an advantage for current homeowners looking to build equity, but rising prices can become an obstacle for first-time buyers. In some Maine markets, price gains are outpacing income growth because of consistently low for-sale inventory levels.

Nationally, sales dipped 1.2 percent in the past year. According to data released today by the National Association of Realtors, the national MSP increased 4.6 percent to $272,300 in July. The Northeast experienced a 1.5 percent sales decrease, while the regional MSP jumped 6.8 percent to $309,700.

Newcastle Realty has had a strong first half of the 2018 selling season. As of August 22, 2018, our brokers have closed 106 transaction sides with a total volume of $25,396,201—up 4.6 percent over our same Y-T-D sales in 2017. By comparison, Tindal and Callahan has posted 81 sides for $23,488,771 in volume, Drum and Drum Real Estate has sold $15,817,465 with 46 sides, and Sotheby’s Legacy Properties has booked $15,037,650 from 34 sides. We are proud to remain the #1 firm in Lincoln County.

Most of the year-to-date 2018 property sales in the local area have occurred in Waldoboro (60), Wiscasset (54), Boothbay (43), Jefferson (32), and Bristol (41). Slightly fewer sales have happened so far this year in Damariscotta (28), Boothbay Harbor (27), Edgecomb (18), Westport Island (20), Whitefield (15), Nobleboro (21), and Newcastle (22). Towns showing around a dozen sales include Bremen (13), South Bristol (13), Southport (10), and Dresden (12). Towns seeing just single digit sales are Somerville (9), Alna (3), and Monhegan Island (1).

There are currently 456 single family homes for sale in Lincoln County (up slightly from 446 last month), with 30 percent of those priced at or above $500,000. The 621 residential sales that have occurred in the past 365 days represent transactions in the range of under $100,000 (12%), $100,000-$249,999 (48%), $250,000-$499,999 (29%), $500,000-$999,999 (10%), and $1 million-plus (1%).

The current market absorption rates for Lincoln County homes is 2.9 months (under $100,000), 6.1 months ($100,000-$249,999), 10.3 months ($250,000-$499,999), 18.2 months ($500,000-$999,999), and 59.5 months ($1 million and up). This tells us how long it would take for existing inventories to be absorbed into the market at current rates of sales if no new listings were introduced.

Newcastle Realty tracks Lincoln County and statewide sales, along with other important metrics, which keeps our brokers fully informed of current market conditions and emerging trends as they serve buyer and seller client needs. Questions or comments may be directed to Dennis Hilton, President of Newcastle Realty at dennishilton@cheneycompanies.com or 207-380-3435.

  • Sales statistics based on information from the Maine Real Estate Information System, Inc. (d/b/a Maine Listings) for the period 1/1/18 through 8/22/18.

Remarkable Custom Built Cape in Nobleboro offered by Newcastle Realty!

Remarkable opportunity to own this custom built cape that will accommodate a large family and many friends…

at 21 Nobleboro Woods Road, Nobleboro .

Very appealing with the curved cobble
stone path leading to the front door and the farmer’s porch protecting you from the elements. Nice lush lawn in the front and a buffer of trees in the back for privacy when relaxing on the huge deck. Entrance to tiled entryway from porch leads to kitchen and dining/living room. All floors are gorgeous wood and tile. Custom kitchen complimented by beautiful cabinets and modern appliances with a nice island between kitchen and dining area. Big living room could easily accommodate two separate living areas. Den could be utilized as first floor bedroom. Spacious laundry/bathroom on first floor. Second floor has 3 bedrooms and bath. Master has adjoining sitting area and two huge closets. The daylight walkout basement has recreation area and workshop area. Five minutes to downtown amenities and easy commute whether going north or south.

MLS#1351961

Greek Revival Cape in the Mills offered by Newcastle Realty!

Right in the heart of Damariscotta Mills…

at 27 Main Street, Nobleboro .

This Greek Revival Cape has been meticulously maintained and beautifully restored. Relax on the screened porch overlooking the large, sunny yard with dappled light and mature plantings. Many built-ins, period trim and original floors and windows. Carriage house has room for one car plus extra storage. Come be a part of this very special community right across the street from the famous fish ladder. Enjoy a peek of Great Salt Bay, swim, kayak or fish in Damariscotta Lake right up the road. Plus it’s just a quick drive into town. Rarely do such lovely homes in such a special location come on the market… don’t miss out! 

    

MLS#1362342

Rare Island Property Offers Bold Views, Privacy

We are pleased to offer this Heron Island seasonal vintage cottage with broad westerly and southerly views of the Damariscotta River, East Boothbay to the islands and ocean beyond.

Step back in time to simpler days when friends and family gather and create memories that last a lifetime. Property features 2 cottages, one with a fieldstone fireplace, kitchen, den, bedroom and full bathroom. A second cottage has a screened/glassed porch, open deck, bedroom and 1/2 bath. In addition, there is a workshop building and a utility building housing solar power.

Common summer colony island amenities include a common wharf, (one in Christmas Cove and the other on island), community well for potable water, recreation building (the “Casino”), tennis court and caretaker & ferry services.

Please contact listing brokers Debby Schling or Dennis Hilton for more information.

July 2018 Market and Sales Update

The Maine summer real estate season is in full swing. According to the Maine Association of Realtors, agents around the state sold 1,937 single-family existing homes in June 2018, an increase of 2.54 percent over June 2017. Home values experienced double-digit gains, with a 10.98 percent jump in the median sales price to $227,500. The MSP indicates that half of the homes were sold for more and half for less.

It’s been a strong year for much of Maine and inventory is moving quickly. The number of sales during the first six months of 2018 are nearly 2 percent ahead of the first six months of 2017, which was Maine’s best ever. In some areas of Maine, including the midcoast, the markets are tight—multiple offers are prevalent, and prices show upward pressure.

The National Association of Realtors today reported a national sales dip of 2.3 percent, while prices rose 5.2 percent to an MSP of $279,300. Regionally, home sales in the Northeast eased 4.0 percent over the past year and the regional MSP increased 3.3 percent to $305,900.

Newcastle Realty has had a strong first half of the 2018 selling season. As of July 23, 2018, our brokers have closed 82 transaction sides with a total volume of $19,201,701—just 2 percent less than our same Y-T-D sales in 2017. By comparison, Tindal and Callahan has posted 63 sides for $14,921,271 in volume, Drum and Drum Real Estate has sold $12,572,310 with 36 sides, and Sotheby’s Legacy Properties has booked $10,861,500 from 23 sides. We are proud to remain the #1 firm in Lincoln County.

Most of the year-to-date 2018 property sales in the local area have occurred in Waldoboro (79), Wiscasset (82), Boothbay (88), Boothbay Harbor (60), and Bristol (78). Slightly fewer sales have happened so far this year in Jefferson (60), Damariscotta (38), Edgecomb (38), Westport Island (34), Whitefield (29), Nobleboro (30), Dresden (19), and Newcastle (32). Towns showing less than two dozen sales include Bremen (20), South Bristol (16), Somerville (14), and Alna (10). Towns seeing just single digit sales are Southport (9), and Monhegan Island (2).

There are currently 446 single family homes for sale in Lincoln County (up one from 445 last month), with 30 percent of those priced at or above $500,000. The 601 residential sales that have occurred in the past 365 days represent transactions in the range of under $100,000 (12%), $100,000-$249,999 (50%), $250,000-$499,999 (27%), $500,000-$999,999 (10%), and $1 million-plus (1%).

The current market absorption rates for Lincoln County homes is 3.5 months (under $100,000), 5.6 months ($100,000-$249,999), 11.0 months ($250,000-$499,999), 19.3 months ($500,000-$999,999), and 51.1 months ($1 million and up). This tells us how long it would take for existing inventories to be absorbed into the market at current rates of sales if no new listings were introduced.

Newcastle Realty tracks Lincoln County and statewide sales, along with other important metrics, which keeps our brokers fully informed of current market conditions and emerging trends as they serve buyer and seller client needs. Questions or comments may be directed to Dennis Hilton, President of Newcastle Realty at dennishilton@cheneycompanies.com or 207-380-3435.

  • Sales statistics based on information from the Maine Real Estate Information System, Inc. (d/b/a Maine Listings) for the period 1/1/18 through 7/23/18.

Seasoned Newcastle Realty Broker Team Celebrates 15 Years While Offering Specialized Services to Seniors

Bill Byrnes joined Newcastle Realty in 1998, back when the company still operated from the basement of the Newcastle Square building across the river. Two years later, Lee Simard became a Realtor and joined the same firm. It turns out that while traveling separate paths, both Bill and Lee had retired at about the same time, and moved to Pemaquid Point from the same state, Connecticut. Bill was previously employed as a crisis and mental health counselor, and Lee had a background as a financial services CPA. 

Having met as fellow brokers at Newcastle Realty, they developed an affinity for each other’s strengths as Realtors, their shared commitment to personalized service to clients, and in their respective senses of humor. Each discovered how their skill sets and interests complimented those of the other. So, they decided to become a team at a time when real estate teams were quite unusual.

Fast forward to today, the 15-year partnership of the dynamic Byrnes and Simard team has handled more than $90 million in Lincoln County real estate sales, representing more than 300 property transactions, all while continuously impressing clients with their dedication and professionalism.

Both Bill and Lee’s analytical backgrounds have helped them to be excellent listeners and communicators. They both feel strongly about developing face-to-face relationships. Taking the time to develop relationships built on integrity and trust, they pride themselves in being caretakers of people and their properties. Bill and Lee choose to not use “lockboxes,” preferring to personally attend every single real estate showing in order to receive and give their clients first hand feedback.

While they serve all client types and ages, Bill and Lee are most passionate about helping seniors with their important real estate decisions. Bill is recognized by the National Association of Realtors as a Senior Real Estate Specialist (SRES). Having direct knowledge of senior-related issues, both personally and in their previous careers, helps them to offer specialized solutions to older clients. Lee’s financial background allows him to help seniors be aware of possible tax issues and financing options, while remaining sensitive to age-specific goals and time frames. Bill’s career in counseling enables him to guide and empower clients, especially when faced with health issues, sensitive family matters, and those who need to create a well-thought-out transition plan. Both view themselves as senior advocates; advising and guiding clients to pre-plan, informing them how to protect themselves, and urging them to remain focused on what is in their best interests as they move forward.

 When asked about the long affiliation with their company, both Bill and Lee commended the quality and integrity behind the Newcastle Realty brand. Locally owned and invested in Lincoln County communities, Newcastle Realty has a strong team of full time brokers, Apprentice brokers, and Ambassadors who work well with each other. Company owner Dennis Hilton, a Damariscotta native, provides a strong infrastructure with coordinated online and social media marketing, a progressive advertising strategy, efficient technology and a highly visible “brick and mortar” Main Street office presence. This strong business support means that Bill and Lee are free to work on developing client relationships. Both complimented Hilton for his strong business ethics, his support of local organizations, and his leadership in the community.  

If you or someone you know is over age 55 and thinking about making a move or a change, consider talking to Bill Byrnes and Lee Simard. They are happy to answer your real estate questions and discuss options with you. Both can be reached at Newcastle Realty’s office, 87 Main Street in Damariscotta, by calling 207-563-1003. You can also contact them by emailingbillbyrnes@cheneycompanies.com or leesimard@cheneycompanies.com. To learn more about Newcastle Realty, please visit www.MyNewcastle.com.

5 Reasons Local Independent Firms are the Future of Real Estate

In recent years, the real estate industry has seen a rapid rate of mergers and acquisitions — but there’s also a countertrend where independent local brokerages are surging in popularity.

When it comes to realty companies, I’m proud to say local is better — and homeowners agree: In a survey of more than 3,000 U.S. homeowners, nearly 90 percent of consumers said they preferred working with an agent who was affiliated with an established local real estate company.

Separately, last year’s annual Real Trends 500 ranking of the top 500 U.S. residential real estate firms found indie brokerages represented by Leading Real Estate Companies of the World produced more than a quarter of the total sales units among the top 500 brokerages.

Here are the top five reasons indie brokerages like Newcastle Realty continue to distinguish themselves in a crowded field and demonstrate tremendous growth nationwide.

  1. Authenticity

Locally-owned brokerages are highly invested in the community where they do business and, as a result, earn a strong level of trust from consumers.

At Newcastle Realty, our owner was born and raised in Damariscotta and the company has been doing business in the surrounding communities for over 35 years—that’s a track record people can rely on. Our brokers know Lincoln County, Maine and everyone knows us. We feel that our firm and broker associates truly understand buyers and sellers of Maine real estate, what makes them unique and what drives their housing choices.

That’s why we’re best equipped to provide a high level of value to them. Today’s buyers and sellers are definitely looking at their housing choices through a lens that seeks ways to meet or enhance their lifestyle.

Being a local brokerage means we are intimately in touch with our communities and better able to understand and serve the needs of our clients well.

  1. Adaptability

Unencumbered by bureaucratic red tape or having to run things by a distant “headquarters,” indie brokerages are best positioned to respond to changes in market conditions faster than national players headquartered in other states.

Being able to leverage new marketing strategies more in line with local market conditions achieves better results for buyers and sellers.

When market conditions shift and new technology comes online, indie brokerages can make adjustments more quickly and say, “Here’s the data, and here’s the solution.” This is a huge benefit to consumers and agents.

  1. Neighborhood Intel

Consumers can find a plethora of data online about a home, but that isn’t enough. What they need is a local neighborhood expert to navigate the data points and distill what’s relevant, important and useful.

There are some terrific national agents, but when you combine local expertise with a local brokerage that’s focusing all of its energies in the community where you live, the result for the consumer is extraordinary.

The local agent knows the properties — inside and out — as well as how to apply the available data to help guide buyers and sellers in the best direction for them.

As each home is different and occupies a unique place in the world, so does each buyer and each seller have different circumstances. The local agent can put it all together and develop a customized plan that has the highest probability of success for the client.

  1. Culture of Giving

When a brokerage stays local and is committed to positively affecting its hometown, it’s demonstrating a belief in the value of the community and an investment in its success.

Newcastle Realty believes strongly in giving back to our community through philanthropic endeavors. For example, our Cheney Financial Group Chartitable Giving Committee has donated more than $200,000 to Lincoln County non-profits in just the last 10 years, plus donated hundreds of volunteer hours.

Colleagues working together toward a shared purpose can have a great positive effect on company culture. This seems especially true for younger agents.

A 2016 study found 64 percent of millennials consider a company’s social and environmental commitments when deciding where to work, and 88 percent said their job is more fulfilling when they have access to opportunities to have a positive social and environmental impact.

  1. Deep Bench of Talent

Talent is gravitating toward indie brokerages, and consumers gravitate to where the talent is. Over half (51 percent) of Realtors today are affiliated with an independent company, according to a National Association of Realtors (NAR) 2016 survey.

There’s definitely a groundswell of interest in indie brokerages. Top agents want brokerages with cultures that support collaboration, social giving and independence. And they are confident an indie brokerage will offer more financial stability.

Over half of real estate professionals say they felt more profitable as an independent. By generating and fostering talent, indie brokerages are built to succeed and built to grow. A great example of this is the Apprenticeship and Ambassadorship programs at Newcastle Realty. There’s never been a better time to be affiliated with or to work with an indie brokerage.

Consumers and agents alike are choosing firms with roots in the region where they want to live and work. Grounded in the community they serve, passionate about giving back and able to quickly mine multifaceted local data and marketing, it’s clear why indie brokerages like ours continue to be successful.

June 2018 Market and Sales Update

Sales of Maine’s single-family existing homes decreased 1.38 percent last month, due to limited market inventory. Prices, however, continued to rise; according to Maine Listings, the statewide median sales price (MSP) increased 9.95 percent to $219,900. The MSP indicates that half of the homes were sold for more and half for less.

Real estate firms across the state are experiencing steady business, with many markets reporting that multiple offers are prevalent due to tight for-sale inventory conditions. Statewide, we have 14 percent fewer homes for sale than a year ago, and 32 percent fewer than 2016. We’re seeing upward pressure on pricing in those markets due to the limited supply.

According to the National Association of Realtors, sales nationwide eased three percent over the past 12 months, while the national MSP rose 5.2 percent to $267,500. Regionally, sales in the Northeast decreased 11.7 percent and the MSP dipped 1.8 percent to $275,900.

Newcastle Realty has had a strong first half of the 2018 selling season. As of June 21, 2018, our brokers have closed 69 transaction sides with a total volume of $15,890,701—a 5 percent increase over our same Y-T-D sales in 2017. By comparison, Tindal and Callahan has posted 48 sides for $11,254,471 in volume, Drum and Drum Real Estate has sold $9,560,310 with 28 sides, and Sotheby’s Legacy Properties has booked $8,636,500 from 19 sides. We are proud to remain the #1 firm in Lincoln County.

Most of the year-to-date 2018 property sales in the local area have occurred in Waldoboro (74), Wiscasset (81), Boothbay (93), Boothbay Harbor (61), and Bristol (79). Slightly fewer sales have happened so far this year in Jefferson (59), Damariscotta (41), Edgecomb (36), Westport Island (31), Whitefield (32), Nobleboro (29), Dresden (24), and Newcastle (32). Towns showing less than two dozen sales include Bremen (18), South Bristol (17), and Somerville (14). Towns seeing just single digit sales are Alna (9), Southport (8), and Monhegan Island (2).

There are currently 445 single family homes for sale in Lincoln County (up from 374 last month), with 26 percent of those priced at or above $500,000. The 602 residential sales that have occurred in the past 365 days represent transactions in the range of under $100,000 (12%), $100,000-$249,999 (51%), $250,000-$499,999 (27%), $500,000-$999,999 (9%), and $1 million-plus (1%).

The current market absorption rates for Lincoln County homes is 3.9 months (under $100,000), 6.0 months ($100,000-$249,999), 11.1 months ($250,000-$499,999), 19.2 months ($500,000-$999,999), and 34 months ($1 million and up). This tells us how long it would take for existing inventories to be absorbed into the market at current rates of sales if no new listings were introduced.

Newcastle Realty tracks Lincoln County and statewide sales, along with other important metrics, which keeps our brokers fully informed of current market conditions and emerging trends as they serve buyer and seller client needs. Questions or comments may be directed to Dennis Hilton, President of Newcastle Realty at dennishilton@cheneycompanies.com or 207-380-3435.

  • Sales statistics based on information from the Maine Real Estate Information System, Inc. (d/b/a Maine Listings) for the period 1/1/18 through 6/21/18.

Custom Contemporary on the Sheepscot River!

Experience the Maine way of life…

at 52 Falls Road, Newcastle.

When this local well known carpenter built this house not much was left to be desired. This private custom built contemporary cape on the Sheepscot River offers amazing features such as Corian counter tops, first floor Master bedroom with attached en-suit, soaring cathedral ceilings with a stunning massive stone fire place, radiant heat, attached 24×24 garage, separate 30×40 barn are just few. Entertain your summer nights on the large 10×46 cedar deck or sit on the rivers edge watching the sun set over the trees.

MLS#134430

May 2018 Market Update Report

Tighter inventory in the single-family existing home real estate market has led to an uptick in sales prices and home sales. According to Maine Listings, 1,201 homes were sold in April—an 8.59 percent increase compared to April of 2017. Sales prices are also on the rise; a median sales price of $200,000 represents a jump of 8.11 percent comparing April 2018 to April 2017. The MSP indicates that half of the homes were sold for more and half for less.

The April statistics show continued high volume and confidence in home ownership. With limited for-sale inventory and tight markets in many areas of Maine, we’re seeing increased sales prices. Buyers are adjusting to the market conditions, choosing different commuting distances, and including larger down payments to keep their mortgages affordable and provide housing expense stability over the long-term.

Nationwide, sales decreased 1.6 percent over the past year. The National Association of REALTORS today released statistics showing a 5.5 percent increase in the national MSP to $259,900. The regional Northeast experienced an 11 percent dip in sales, while the regional MSP rose 2.8 percent to $275,000.

Newcastle Realty has had a strong start to the 2018 selling season. As of May 24, 2018, our brokers have closed 59 transaction sides with a total volume of $13,981,201—a 3 percent increase over our same Y-T-D sales in 2017. By comparison, Tindal and Callahan has posted 39 sides for $9,219,471 in volume, and Drum and Drum Real Estate has sold $5,924,000 with 16 sides.

Most of the year-to-date 2018 property sales in the local area have occurred in Waldoboro (58), Wiscasset (69), Boothbay (75), Boothbay Harbor (50), and Bristol (60). Slightly fewer sales have happened so far this year in Jefferson (49), Damariscotta (38), Edgecomb (30), Westport Island (24), Whitefield (28), Nobleboro (25), Bremen (15), Dresden (20), and Newcastle (24). Towns showing less than a dozen sales include South Bristol (10), Somerville (10), Alna (6), Southport (6), and Monhegan Island (1).

There are currently 374 single family homes for sale in Lincoln County (up from 318 last month), with 29 percent of those priced at or above $500,000. The 543 residential sales that have occurred in the past 365 days represent transactions in the range of under $100,000 (9%), $100,000-$249,999 (52%), $250,000-$499,999 (28%), $500,000-$999,999 (9%), and $1 million-plus (2%).

The current market absorption rates for Lincoln County homes is 3.5 months (under $100,000), 5.2 months ($100,000-$249,999), 10.3 months ($250,000-$499,999), 21.6 months ($500,000-$999,999), and 30 months ($1 million and up). This tells us how long it would take for existing inventories to be absorbed into the market at current rates of sales if no new listings were introduced.

Newcastle Realty tracks Lincoln County and statewide sales, along with other important metrics, which keeps our brokers fully informed of current market conditions and emerging trends as they serve buyer and seller client needs. Questions or comments may be directed to Dennis Hilton, President of Newcastle Realty at dennishilton@cheneycompanies.com or 207-380-3435.

  • Sales statistics based on information from the Maine Real Estate Information System, Inc. (d/b/a Maine Listings) for the period 1/1/18 through 5/24/18.

Waterfront Estate on Greenland Cove!

Escape to the coast…

at 7 & 16 Periwinkle Point, Bremen.

This light-filled, waterfront home offers the peace and serenity you have been searching for! Enjoy your own dock and float on pristine Greenland Cove. Open ocean just minutes away! Polished wood floors greet you the moment you walk in the door. The captivating granite fireplace soars into the cathedral ceiling making it visible from living room, kitchen, dining area as well as the second floor. Fully equipped kitchen with breakfast bar for casual dining. En-suite master makes one-floor living possible here. Bonus room, two bedrooms. and bath on 2nd floor. Views from every room!! Extra garage bay in the spacious basement for that boat you have always wanted! Simply landscaped-easy to maintain. Offer your guests their own privacy in the detached two bedrooms, winterized home just up the hill. Could be rental opportunity with separate access to the water or place a caretaker here.

This is the perfect home to get away from it all!

 

MLS#1296952

Great Opportunity in Damariscotta!

Great location, great opportunity …

at 61 & 63 Church Street, Damariscotta.

This is the perfect opportunity to owner occupy this quaint residence located within a short walk to downtown Damariscotta. Get help with your mortgage from the two unit Gambrel cottage on the same lot! Main house has two bedrooms, two & a half bathrooms and an attached garage. Nice yard for gardening or outdoor fun. Both rental units are one bedroom, one bath. Great rental history on both buildings. This property is in the C-2 zone which allows for an office location as well. Owners have kept this property in great shape. Main house has been cosmetically updated just recently with new appliances and bath fixtures. 

Don’t miss out on this great opportunity!

MLS#1300952