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Summer real estate sales top $200M in York County


According to the Maine Association of Realtors ... Kennebunk/Kennebunkport Total real estate sales in Kennebunk dropped by 0.7 percent to $35.8 million. Single-family sales, which numbered 22, totaled $29.4 million in June, July and August, a 2.6 percent ...


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By Paul Briand business@seacoastonline.com York County experienced a good summer when it came to residential real estate sales in the six coastal communities of Kittery, York, Kennebunk, Kennebunkport, Wells and Ogunquit.Sales in June, July and August of single-family homes and residential condominiums in those communities tracked by Seacoast Media Group were more than $200 million, 9 percent higher than the same quarter last year.The analysis was drawn from state transfer tax declarations filed with the assessor?s office in each communityThe data show single-family home sales totaled $163.2 million for the summer quarter, a 7.8 percent increase, while residential condo sales totaled $36.8 million, a 14.8 percent jump.According to the Maine Association of Realtors, the end of summer sales in August was a good starting point to the fall selling season.?August statistics show a final summer push and good momentum moving into the fall,? said Greg Gosselin, president of the Maine Association of Realtors, broker/owner of the Gosselin Realty Group in York?Buyers are active in the marketplace and ready to purchase, searching for properties to meet their specific needs.?York County as a whole, according to association statistics, had just about flat sales in the summer quarter ? 963 versus 964 last quarterThe median sales price was up about 8 percent ? from $245,000 to $264,500.KitteryHome sales were down, but condo sales were up, resulting in an overall drop in volume of 3.8 percent on the summer quarter.Home sales numbered 54 for a total of $22.1 million, a 5.4 percent drop from the $23.4 million last summerThere was one sale for more than $1 million ? on Haley Road for $1.1 million in JulyThe average price of a house was $409,536.Condo sales totaled $3.2 million on eight sales, an increase of 8.8 percent from $2.9 million last yearThe average price of a condo unit was $397,963.YorkThe town saw an increase in home and condo sales, boosting the total residential volume by 10.3 percent during the quarter.Home sales totaled $52.3 million on 103 transactions, the most in the coastal regionThat represented an 11 percent increase over quarter last yearThere were five home sales in excess of $1 million ? on Seawatch Path for $1.825 million in June, on Western Point Road for $1 million in July, on Aldis Lane for $2.799 million in August, on Bay Haven Road for $1.45 million in August, and on Clark Road for $1.115 million in August.Those sales helped push the average price of a house to $507,501.Condo sales in York totaled $5.2 million, a 3.6 percent over last yearThe average price of the 18 transactions was $286,567.Kennebunk/KennebunkportTotal real estate sales in Kennebunk dropped by 0.7 percent to $35.8 million.Single-family sales, which numbered 22, totaled $29.4 million in June, July and August, a 2.6 percent drop from the same quarter in 2016That included two homes that sold for more than $1 million ? on Anchorage Way for $1.45 million in July and on Sea Grass Lane for $1.425 million in July.The data show 24 condos in Kennebunk sold for $6.4 million, an 8.8 million increase over last year.The average price of a house in town was $408,449 for the quarter, while the average price of a condo was $264,683.In Kennebunkport, total real estate volume ballooned by 200 percent ? by 225.6 percent on 26 single-family home sales totaling $24.1 million and by 49.3 percent on seven condo sales totaling $1.8 million.Home sales volume in Kennebunkport was helped by five transactions for more than $1 million ? on Rankin Lane for $2.7 million in June, on Pearl Street for $1.26 million in June, on Seaview Avenue for $3.4 million in August, on Skipper Joes Point Road for $2.45 million in August, and on Marshall Point Road for $2.8 million in August.The average price of a house (greatly influenced by plus million dollar transactions) was $925.336, while the average price of a condo was $263,771.Wells/OgunquitTotal sales in Wells were down by 7.7 percent in the summer quarterHouse sales were down by 20.5 percent ? $29.6 million this quarter against $37.2 million last quarterTwo homes sold for more than $1 million ? on Ocean Avenue for $1.7 million in June and on Sunset Ridge Road for $1.917 million in July.Condo volume was up, however, by 31.5 percentWells has a very active condo market, with units ranging from townhouses to motel units and free-standing cottage unitsThe summer quarter recorded 78 unit sales totaling $16 million, almost $4 million more than last summer.The average price of a condo in town was $205,712, while the average price of a house was $369,449.In Ogunquit, total sales were also down, $10.1 million this summer versus $11.1 million last summerThe data show 11 homes sold for $$5.8 million during the summer quarter, while the tally was $6.2 million last summerThere were six condo transactions totaling $4.2 million, a drop of 13.3 percent, including one unit on Oarweed Lane that sold for $2.25 million.The average price of a house in town was $530,229; the average price of a condo was $707,633.One trend in theses coastal communities is the growing number of transactions involving vacant landA shrinking residential inventory is putting some pressure on builders to construct new homesThere were six land sales in Kennebunk during the summer quarter, 15 in Kennebunkport, 24 in Wells, two in Ogunquit, 26 in York and 12 in Kittery.As the region transitioned to another quarter, Gosselin noted fall is a prime time to sell a home.?Buyers want to settle before the winter months and take advantage of the tax benefits of real estate ownership prior to year?s end,? he said.? 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