Your Local South Berwick February, 2025 Real Estate Market Report

South Berwick Real Estate Market Update: A Stronger Start to February
The South Berwick real estate market is seeing an increase in activity as we move through the early months of 2024, with more sales and faster market times compared to this time last year.

• Active & Pending Listings:
  Currently, there are 4 homes for sale in South Berwick, with 7 properties pending. These inventory levels are still considered very low compared to prior years.

• Sales Trends & Market Shifts:
  So far this February, 3 homes have sold, compared to just 1 sale at this time last year. This increase in closed transactions reflects a more active market, giving both buyers and sellers more confidence.

• Days on Market Drops Significantly:
  One of the biggest shifts this month is a sharp decline in median days on market—dropping to just 4 days, compared to 41 days at the same time last year.

• Interest Rates:
  Mortgage rates have edged downward, with the national average currently at 6.95%—down from 7.05% last month and 7.13% at the end of February last year. This slight drop in rates may encourage more buyers to enter the market, boosting competition.

With homes selling faster and more properties going under contract, South Berwick remains a competitive market for well-positioned sellers. Buyers, meanwhile, should be prepared to move quickly when the right opportunity arises. As we head further into the spring market, keeping an eye on inventory levels and rate trends will be key.