by mick early • contributing author and local realtor the lakes real estate
As we transition into fall, the real estate market around Moose Pond remains highly active. This overview will provide insights into the current state of the market, recent trends, and anticipated developments. While the focus is on Moose Pond, it’s important to note that local ponds and lakes in the area share many of the same attractive qualities for buyers and residents alike.
The real estate market has experienced noticeable changes compared to recent years. The onset of the COVID-19 pandemic triggered a surge in activity across the Maine real estate market – a pace that was ultimately unsustainable. Contrary to early predictions that many buyers from that period would soon sell their properties, most have chosen to stay. The simple reason is the exceptional quality of life in Maine, whether enjoyed year-round or during vacation periods.
It’s clear that theappeal of waterfront living remains strong.
In the past year alone, there have been thirteen closed transactions on Moose Pond. These include properties in Knights Hill Association, East Pinnacle, and Brewster Circle, where homes offer shared access to the water. Such properties are generally more affordable but still represent excellent investment opportunities.
At present, there are fourteen active listings in the Moose Pond area, with an additional four properties under contract. Notably, many of these listings have remained on the market for longer periods than seen in the past, which reflects a new trend. Interestingly, higher-priced homes with superior waterfront access and home quality tend to sell more quickly. There continues to be a strong pool of buyers willing to pay cash for the right property.
Success in today’s market largely depends on proper pricing. Properties that are selling tend to be those priced accurately from the outset. Some owners have hesitated to follow professional pricing advice, resulting in extended time on the market and numerous price reductions in recent months.
The overall market remains stable; however, elevated interest rates – maintained by the Federal Reserve in efforts to control inflation – continue to be a factor. While some decreases in mortgage rates are expected in the coming months, these changes are unlikely to significantly impact waterfront property sales. Instead, any rate drops may primarily benefit buyers seeking more conventional homes.
Ultimately, accurate pricing is essential for a successful sale. If you are considering selling, consult your realtor for a comprehensive Comparative Market Analysis to ensure your home is priced correctly. For those not looking to sell, it’s clear that the appeal of waterfront living remains strong, and we are pleased that so many continue to enjoy all that the Moose Pond area has to offer.