There was a home in South Portland listed last week for $399,900. It was a beautiful home; newer, and very nice inside with almost 2,000 square feet of living space and a garage. We also listed our neighbors’ home at 9 Sylvan Road in South Portland last week. It is a similar property with about the same square footage but no garage. We listed is at $549,900 ($150,000 more than the other new listing!) The other home went under contract extremely fast! I did think it was underpriced but I didn’t have the opportunity to see the interior. After 6 showings and our open house on Sunday, Sylvan Road received three offers and we went under contract at a GREAT price above the asking! It really matters who you are working with.
We just listed 470 Highland Avenue in South Portland. It’s a three-bedroom, one bath ranch that needs a total gut and rebuild but it sits on a two plus acre lot that is one of the nicest lots in South Portland. We listed it for $300,000. There are limited times available to show it because the owner has no transportation. We decided to open it up for two days for two hours each day. We had 8 showings yesterday and another 8 are scheduled for Friday! I’m sure we will receive multiple offers on that property too.
We have three additional listings coming onto the market later this week; a four-to-five-bedroom colonial in a nice neighborhood, a three-bedroom ranch that is very cute and was just renovated and a townhouse style condo.
This early spring market has the same signs as the market last summer and fall with lot of buyers who have very solid financing ready to make strong offers and very low inventory. Most definitely still a very strong seller’s market!
Let me know if I can help in any way to get you ready to face the challenge this year.