Eliot Market Conditions

Prices have come down and interest rates are still doing well...Many buyers are hoping to come into the Maine market and get a lot for their money....but the truth is that many sellers have already marked prices as low as they possibly can....Sellers today are having to go to closing with some cash in order to clear title...

Buyers may want to understand the market that they are shopping in first of all.....for example Biddeford is a little different from Ogunquit....and the prices will dictate that....

It is nice to see buyers doing their homework over the internet before seeking to see a property, but keep in mind that many properties out there are in an up side down loan and sellers can decrease their prices just so far..

Overall many properties are closing at 15% under the accessed values....Of course each property and each situation is unique.


ZIP Code: 03903

Location Characteristics: Eliot is a town in York County, Maine, United States. The population was 5,954 at the 2000 census. It is part of the Portland-South Portland-Biddeford, Maine Metropolitan Statistical Area.

Originally part of the Piscataqua Plantation (renamed Kittery in 1647) called Sturgeon Creek in the 1630-40s, it became the North, or Second, Parish of Kittery in 1713 following the incorporation of Berwick. On March 1, 1810, Eliot became a town. The town was either named after Robert Eliot, who was a member of the Provincial Council of New Hampshire, or for Reverend John Eliot of Boston, a friend of General Andrew P. Fernald, the town agent largely responsible for its separation.

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