You may have noticed that I have been quieter in recent months - my last letter to you was in March. I have a good excuse, which you will read more about in this letter. In addition, we will discuss the Spring market in Maine, Portland's increasing international attention, new listings, and a memorable transaction.
The trees have popped and summer is near
A SEASONAL SURGE IN INVENTORY AND TRANSACTIONS
In Maine, mid-May spring bloom kicked off a notable increase in real estate listings, enhancing property appeal and privacy with lush greenery. Now, in June, Maine's real estate market is in season. Photographers are busy at work, and stagers' schedules are booked into July and August. As the lush summer progresses, expect continued vigorous activity, further boosted by tourists and relocating buyers. In May, we experienced a 28% increase in the number of new listings compared to the same period in 2023. This is the highest number for May since 2019. Despite the hopeful rise in inventory for buyers, we are still in a seller's market. As of the week ending 6/8/24, the median days on the market is 7 days, and homes are selling for 104% of the asking price.
TOP 10 IN THE WORLD!
This should be an encouraging report for Sellers and property owners: According to recent article from Remote.com, Portland has been ranked as the 7th best city in the world for working from home. The ranking was based on factors such as quality of life, internet connectivity, safety, incentives and more. Portland earned this position thanks to its location, diversity and tax credits offered to recent college graduates who live in the state. This tax credit can be up to $15,660 and is a great incentive for graduates to stay and enjoy living in this excellent city. Portland was the only U.S. city in the top 10. The next highest-ranked U.S. city was Honolulu, HI at #19. You can check out the full ranking list from Remote.com at the link below.
3.18.2024 7 lbs 10 oz
MEET LEO
If you catch me multitasking or hear a little cooing in the background during our phone calls, you'll know that Leo is right by my side, cheering me on as I continue to serve you with the same dedication as always.
Portland, ME
A MEMORABLE OFFER
Days before welcoming my son, I was showing (and waddling around) this newly listed home in Portland to a client and friend. We found ourselves so captivated by the property that we decided to act immediately. Comfortably seated on a stylish couch staged by Whitney and Co., we swiftly drafted, signed, and submitted an offer right from my phone and refused to leave until it was in the hands of the Seller. The deal was sealed within an hour after leaving, and the weekend open house was canceled. We discussed our plans to celebrate with a glass wine in that very room once the cozy woodstove was theirs—a perfect toast to new beginnings and successful ventures!
Offered for sale at $1,250,000
A TOWNHOUSE-INSPIRED CONDO
When we first visited the condo at 113 Newbury, we were impressed by its great location, spacious interior, and convenient features. However, what really caught my attention was the parking setup. Unlike many other condos, this unit has a townhouse design with a private street entrance and a back door directly opening to a security-monitored covered parking spot. The home is just a short, pleasant stroll from popular downtown restaurants, amenities, and the scenic Eastern Promenade trail, offering the best of Portland living. Professionally staged for modern living by Whitney & Co., this multi-level home is a must-see. Contact us today to learn more.
Thank you for reading!
