Here’s a quick overview of how our market is changing next year.
2021 was an incredible year in real estate. We had very low inventory and high buyer demand. That combination created a frenzy of buyer activity which included multiple-offer situations and elevated home prices.
It's predicted that we’ll still see low inventory and lots of buyer activity in 2022. However, it's also predicted that prices will level off in Knox, Lincoln, and Waldo counties. We currently have about two months of inventory across our land, lower-end properties, and waterfront property market segments. In other segments like affordable housing and lakefront homes, the inventory is even less than two months which creates a lot of buyer demand.
Traditionally, the listing and buying season in Maine was from the spring to the fall. This is not the case anymore because of the high buyer demand and the low inventory. Our winter selling season has remained strong. If you're considering selling a property in Maine and you want a market analysis, or if you have any other questions, don’t hesitate to reach out to us. We look forward to hearing from you.