For our first blog I thought about all of the questions that we get asked here in the real estate office (and there are a lot of them!) but the one question that stands out in my mind as the most frequently asked is, “How is the real estate market here anyways?” I am sure that it is a head scratcher for most people that visit our area and try to understand the dynamics of the real estate market in a small Maine town which is also home to a world class ski resort. Maybe you have wondered yourself…
Surprisingly, the Bethel/Newry real estate market is fairly steady and somewhat predictable. In 2015, 73 single family homes sold with a median price of $255,000, which was fairly similar to home sales in 2014 with 65 sales and a median price of $220,000. And, with homes selling from $29,900 to $1,250,000, we can truly say that there is something for everyone here!
The condominium market also attracts a steady stream of buyers with 55 sales in 2015 and a median price range of $130,000. In 2014, 57 condominiums sold, supporting the fact that we are enjoying a steady market. Land sales over the past couple of years have also remained consistent with approximately 42 land sales each year with a median price of $56,500.
As you might guess, our busiest time of the year for real estate sales kicks off in the fall with a lot of people looking at property in hopes of purchasing before the first snowflake falls. During the ski season, and especially on popular weekends and vacation weeks, we have lots of interest and showings. Currently we are in the midst of the typical end of the ski season flurry of activity as vacationers enjoy sunny spring skiing and come to realize that they want to make the Sunday River area their home away from home.
So, to answer the burning question, I believe we have a healthy real estate market here with a variety of properties to suit everyone.
If you have other unanswered questions, stop by our real estate office and ask away! For those of you who don’t know, we are located in the main base lodge at South Ridge, adjacent to the welcome center, and we are open 7 days a week, 365 days a year. Written by: Margie
Stay tuned for our next blog when Julia will give you the lowdown on the Sunday River Ski School – Kid Programs