2021 Housing Market Update

Over the past year, we’ve seen many changes to the real estate market. COVID-19 had many people re-evaluating their wants and needs in life. For some, that meant accelerating the timeline on homeownership; for others, selling their current home and downsizing was the smartest move; and many people searched for their dream vacation home, needing an escape from the city and the hustle and bustle of modern life.

Home sales were up 19.3% in January 2021 in comparison to the previous year. The hot housing market that began during the pandemic has remained steady. This is particularly remarkable, notes Randy Guida of Residential Mortgage Services, given that inventory is down 6%, with only 307,000 new homes for sale at the end of January.

So, what does this housing market update mean for you?

Consider Buying Land

With record-low inventory levels for homes across the country, it’s a great time to finally build that dream home. Yes, building your own home takes a lot of work. But it’s also a chance to be fully involved in how your home looks and feels. In the Bethel area, there are lots of home sites available. Here at Sunday River, we also have the new Merrill Hill development – with very few spots left!

Be Patient

If you’re still committed to buying a home, recognize the process may take time. Given the housing market and low inventory, you may be on the hunt for a while. Instead of letting this get you down, however, spend the extra time really nailing down what you want in a house and making sure to line up all your finances. That way, when the right place does come around, you’ll be fully prepared and more likely to be the winning buyer.

It’s a Good Time to be a Seller

If you’ve been on the fence about selling your home, let this be the little nudge you need. This is a good time to be a seller, with less competition than the average market. Whether you’re ready to sell your vacation home for something smaller, or want to change locations, it’s time to take that leap.

So – how can we at Sunday River Real Estate assist you? Our team of experts can help you navigate the housing market no matter what route you’re taking – be it building, buying, or selling.

 

About the Author

Working in real estate has given me the opportunity to share this special place. I am honored to offer my sellers and buyers the knowledge I've gained from years of real estate experience, but more importantly, to share their passion for the ski resort and the Bethel area. Whether you are buying or selling, I will communicate, advocate, and share my expertise. I fell in love with Bethel as a Gould student athlete, but I grew up skiing the slopes of Sunday River and Mt. Abrams with my family every weekend,  and it's where I learned to ski at four years old. Skiing as a family was a choice my parents made and one of the reasons we moved to Maine.

I started my real estate career in 2000, and have built and sold several homes in the area. I currently live in Bethel with my daughter, Charlotte Lambert. She attends Gould Academy and among her many interests is a passion for ski racing. She is learning the student athlete balance and a love for the outdoors. 

We are the official real estate company for Sunday River, and in turn, we have the largest marketing base of any real estate company in the area. We cover the entire western Maine mountain region, selling homes, land, waterfront, house packages, commercial, and seasonal rentals. The ski industry and Sunday River move at a fast pace. Working with Sunday River Real Estate affords our clients the most up-to-date information about the resort. For expert knowledge of resort changes and real estate developments, please join our newsletter. I look forward to working with you!


Sunday River Real Estate 15 South Ridge Road, PO Box 4500 Newry, ME, 04261 P: 207-824-5051 F: 207-824-5053 [email protected]