Right Now is Your Tomorrow
Just like the lyrics to Van Halen’s hit Right Now, this is THE time to plan for sales success in 2025. While we're buried in snow and it feels like we're just coming off the holidays, the spring selling season is right around the corner. April, May, and June are the three best months to list. To help you go to market in the best possible way – something we call Launch vs List® - we should meet now.
It’s more important than ever to go to market the right way – right from the start. We have all the contacts you need to turn your property from lived-in to list ready.
March Mondays - Coffee & Convo
Stop in to meet me from 9am-10am each Monday in March for ‘Coffee & Convos’. These convos are open-ended with no set agenda. Maybe we talk real estate, recent vacations, how you're doing, or how we can collaborate. You name it! Join me and maybe a new friend or two for a casual, caffeinated, connection. Your beverage of choice is on me!
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March 3rd – Bake Maine Pottery Café – 122 Washington Ave, Portland
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March 10th – Blake Orchard – 561 Forest Ave, Portland
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March 17th – Speckled Ax – 18 Thames St, Portland
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March 24th – Ugly Duckling – 246 Danforth St, Portland
Getting Creative with buyers
We all know the market is tight. With more demand than supply, sellers still have the upper hand. I've experienced bidding wars and multiple offers on several recent listings. So, how do we help buyers in this highly competitive market? We get creative and reach out to agents and sellers who were listed in 2023/24 but didn’t sell. We just helped a buyer secure a property this way. They weren’t competing with others, didn't have to offer over asking, and secured a $25K price reduction out of inspections. If you or someone you know is looking and may be a little discouraged, we can help.
Caring for those you care about
I'm honored each time one of my past clients refer their friends and family to me. Here's just two of the recent connections I've made. Know someone looking or listing? Connect them with me. I promise to take great care of those you care about.
Rick Santos & Julie Poitras – thanks for connecting me with your friends Susan and Paul. We had a great tour of Portland's neighborhoods and saw some very nice condos.
Larry & Barb Gross – I couldn’t be more grateful for your connection to Barry & Elaine. We're under contract on a terrific home, closing just in time for the birth of their new grandchild.
What Sets Us Apart?
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Portland Experts – We know the parks, playgrounds, schools, shops, and real estate in our city.
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Residential Focus – Unlike generalists, we specialize in single-family, condo, and 2-4 unit buildings.
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Older Property Pros – We know how to showcase the character and charm of historic properties.
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Pre-Sale Preparation – We have a dedicated team of local contractors to help with property prep.
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Launch vs. List® – Our proprietary process ensures your property hits the market at its best.
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Unmatched Exposure – Marketing that reaches local, regional, national, and international buyers.
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Dedicated Buyer Representation – We have qualified and motivated team members ready to help.
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Proven Results – More bidding wars, more over-asking sales—our track record speaks for itself.
Learn more about our innovative approach at www.whereyoucallhome.com
Market Update
Tom’s Take: The start of the new year saw fewer sales and higher prices —a trend that favors sellers. Single-family home sale prices surged to $682,500, up 27.4% when compared to December and nearly 50% compared to January 2024. Condos experienced a more modest but notable increase of 8.8% since December and 7.1% from January 2024. In the multi-family sector, while the number of sales dipped 4.4% since December, the median sale price climbed 9.7% compared to January 2024.
The data points to a rebound from the sales price declines of 2024, underscoring that demand continues to outpace supply. A silver lining for buyers is the significant increase in days on the market. Single-family homes are now averaging 66 days, a staggering 120% rise since December and a 500% increase over January 2024. This suggests sellers may be overpricing their properties at the start.
With longer days and a few mild days hinting at an early spring, we eagerly await February’s results to glean more insights into the trajectory of the 2025 market.
Single-Family Homes - Highest-priced single-family in January - 366 Spring St. 4 br, 5bth, 4,488sf - $2,050,000
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Median Sale Price: $682,500 (up 27.4% from December 2024 and 47% from January 2024)
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Number of Sales: 14 (down 65% from December 2024 and 39% when compared to January 2024)
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Median Sale Price per Sq. Ft.: $390 (up 6% from December 2024 and 16.4% from January 2024)
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Median Days on Market: 66 (up 120% from December 2024 and 500% from January 2024)
Condos - Highest-priced condo sale in January - 113 Newbury St #105. 2bd, 3bth, 1,648sf - $970,000
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Median Sale Price: $525,000 (up 8.8% from December 2024 and 7.1% from January 2024)
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Number of Sales: 23 (down 23.3% from December 2024 and up 53.3% from January 2024)
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Median Sale Price per Sq. Ft.: $565 (down 3.7% since December 2024 and up 23.6% from January 2024)
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Median Days on Market: 30 (down 31.8% since December 2024 and 14.3% from January 2024)
Multi-Families - Highest priced 2-4 unit sale in January - 89 Park St. 2 units, 3,080sf - $1.25m
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Median Sale Price: $850,000 (down 4.4% from December 2024 and up 9.7% from January 2024)
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Number of Sales: 5 (down 44.4% from December 2024 and 54.5% from January 2024)
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Median Days on Market: 40 (down 35.5% from December 2024 and up 185.7% from January 2024)
Hope to see you for coffee & convos in March, and be sure to connect me with anyone buying or selling.
Tom Landry & The Landry Team
(207) 775-0248
landryteam@benchmarkmaine.com
