Bangor, Maine Attracts Homebuyers With Simpler Life In Mind
by Blanche Evans
Bangor, Maine offers a slower pace, but people seeking a peaceful life have made the town's real estate market boom, say local Realtors. In August, only one county failed to show gains in housing sales in Maine. "You'll enjoy the slower pace, friendly people and the safety of our area," says Realtor Linda Bailey. "We in the Bangor area, indeed in most of the state of Maine, have had an unusual market for the last two or three years. Interest rates were at an all-time low, and there were many buyers in the market. The drawback was that we had a shortage of homes for sale in the area. We had many more buyers than sellers. This condition caused prices to climb and sellers, in many cases, were entertaining multiple offers." Says Realtor Emily Ellis. "Bangor is scenic, quiet living with historic charm and friendly people. She agrees that the greater Bangor area has experienced a steady increase in real estate prices over the past year. "As fall approaches," says Ellis, "interest rates have been slowly rising and overpriced real estate has begun to come down. It is still a seller's market and activity is high. Advises Ellis, "Homes that are priced to sell go under contract quickly and sellers are often faced with multiple offers. As fall sets in we expect to see activity slow down a bit as folks settle in for the winter months! Homes priced in the 200K and up range have actually shown a marked slow down. This is most likely because for the first time in the past two years we seem to have plenty of inventory." |
