Thus far, 2018 has been dominated by a strong seller’s real estate market. With low inventories, low interest rates and many eager buyers, homes are moving quickly and property values continue to push higher and higher! Recent stats released by MREIS show that single family home sales in Cumberland County during the last rolling quarter increased 7.52% as compared to last year for a total of 1,115 properties sold and the median sale price has jumped 5.74% to $312,000!! We are still receiving multiple offers on homes in high demand areas and there is little sign of a slow down. Here is a July summary for South Portland and Cape Elizabeth...
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