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York Market Conditions

By
Real Estate Agent with Ogunquit Sunrise Properties

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: 03909

Location Characteristics: York is a town in York County, Maine, United States at the southwest corner of the state. The population in the 2000 census was 12,854. Situated beside the Atlantic Ocean on the Gulf of Maine, York is a well-known summer resort. It is home to three 18-hole golf clubs, three sandy beaches, and Mount Agamenticus. It includes the villages of York Village, York Harbor, York Beach and Cape Neddick.

Like Bar Harbor and Newport, Rhode Island, York became a fashionable summer resort, and retains many distinctive examples of Gilded Age architecture, particularly in the Shingle Style. A cluster of historic buildings in the center of York Village are maintained as museums by the Old York Historical Society.

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