The South Berwick real estate market saw a quieter start to the year, with lower sales volume and significantly longer days on market compared to last January. Here’s a look at the latest trends:
- Active & Pending Listings:
Currently, there are 4 homes for sale in South Berwick, with 3 properties pending. Across York County, there are 483 active listings and 297 pending sales, reflecting a wider trend of steady buyer activity despite limited local inventory. Click here to see current active inventory in South Berwick, Maine - Sales Trends & Market Shifts:
In January 2025, 4 homes sold in South Berwick, slightly down from 5 sales in January 2024. Meanwhile, York County saw 177 total sales this month, up from 163 last January, indicating continued demand across the broader region. - Days on Market Surge:
A notable shift this month is the increase in median days on market—jumping to 52.5 days, compared to just 3 days in January 2024. This suggests that homes are taking longer to sell, possibly due to buyer hesitation or evolving market conditions. - Interest Rates:
Mortgage rates have remained relatively steady, with the national average at 7.05%, compared to 7.02% at this time last year. While rates are still elevated, their stability allows buyers to plan more effectively.
With limited inventory and longer market times, South Berwick sellers may need to adjust their strategies to attract buyers. Meanwhile, buyers have more time to make decisions in a less competitive environment. As we move into the coming months, tracking how these trends evolve will be key for both buyers and sellers looking to navigate the market effectively.
If you’re thinking of buying or selling, now is an excellent time to strategize for the market. Let’s connect to discuss how I can help you achieve your real estate goals!
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