Listing Your Maine Home? Here's Why It's A Brilliant Idea

Have you taken a moment lately to think, "Is now the time to sell my home?" Well, if you're in the Southern Maine area, the answer is a resounding yes! And here’s the kicker - there's a shortage of homes available right now.

Sure, you’ve probably overheard conversations in Portland coffee shops or at York gatherings about the low housing inventory. But let's dive into what that really means for you, especially if you're in towns like Scarborough, Biddeford, or Gorham. To give a clearer picture, let's look at a graph from Calculated Risk:

Though this graph highlights a tiny increase in housing inventory week-over-week (that little blue bar you see), the big takeaway (from those telling red bars) is this: inventory remains slim. If we hop into a time machine and compare now to the same week in 2019 (the last ‘regular’ market year), the supply is about 50% slimmer. Yep, there are half the number of homes up for grabs!

Here's the main message: The scales haven’t balanced out in the housing market yet. There's a surplus of folks wanting homes and just not enough properties in lovely places like South Portland or Wells to satisfy that hunger. Don’t just take my word for it – Lawrence Yun, Chief Economist at the National Association of Realtors (NAR), puts it this way:

“There are simply not enough homes for sale. The market can easily absorb a doubling of inventory.”

In plain Maine-speak: if you're thinking about listing, there's probably someone waiting to buy. With only half the usual homes on the market, your property could very well be the talk of towns from Falmouth to Kennebunk. This could mean a swift sale and perhaps even multiple offers!

Final Thoughts

The scarcity of homes is real. If you're considering a sale, now’s the time. And hey, if you need some guidance or just want to chat about it – perhaps over coffee in Old Orchard Beach – reach out. Let’s ensure your home gets the attention it deserves in this unique market.