December 2024 York, Maine Real Estate Market Update
Active inventory is declining, sales have increased, prices saw a slight dip, and interest rates continue to climb. So, how did York, Maine’s real estate market close out the final month of 2024?
- Active Listings: As of today, there are 29 homes available for buyers in York, Maine, compared to 501 active listings across York County.
- Market Trends: In York, we saw an increase in the number of sales compared to December 2023, but sale prices dipped slightly. The difference was small by only 2.73%.
- Interest Rates: Mortgage rates have continued to rise in December with the national average at 7.01%. In comparison, last month’s national average was 6.81%. However, rates are still significantly lower than they were a year ago, when the average stood at 7.28%.
As we transition into January, inventory levels typically see a temporary dip due to the expiration of many listings on December 31st. Expect to see some of these properties relisted in the coming weeks, often with new strategies or fresh marketing approaches.
Despite the slight rise in rates last month, the current market remains promising for buyers with relatively lower borrowing costs than last year. Sellers, on the other hand, continue to benefit from high demand and stable pricing. Now with lower inventory, it might be the perfect time to consider selling before more homes come on the market in the spring.
If you’re considering buying or selling, let’s connect to explore how these evolving market conditions can work for you! Click here to see all past sold in multiple towns!
All Sold in December 2024, York, ME
