Nobleboro Maine Real Estate Report
Properties in the town of Nobleboro are some of the best values on the market in our area right now. Sitting just north of Damariscotta-Newcastle on coastal Route 1, Nobleboro has within it or borders several lakes including Damariscotta Lake and Pemaquid Lake both of which feature year round homes and vacation cottages on their shores. There are also nice country homes, typically with more acreage than you might find in some of the other towns.
The graph below is drawn from information provided by the Maine Multiple Listing Service.
The average value of a home in Nobleboro has been increasing steadily for the last 10 years from a low of $103,725 in 1997 to $271,129 in 2005. There was a decline of the average price in 2006 but the average value of a home in Nobleboro is still significantly higher now than 5 years ago. If you look at the graph you will notice that in the last 10 years a low sales volume has been followed by a rebound. While it is only the beginning of May the figures for 2007 look very strong. For 2007 the average price of a home in Nobleboro is $450,000 but this is skewed by the fact that Newcastle Square Realty recently sold a home on Damariscotta Lake for over $900,000.
There are currently 34 residential properties for sale on the open market in Nobleboro. Given the average number of homes that sell in Nobleboro every year it will be important for those homeowners who wish to sell this year to be priced competitively. Even though our market appears to be coming out of it's doldrums there is a lot of inventory on the market right now. But with higher prices just down the road in Damariscotta and Newcastle, Nobleboro will continue to be the town for value conscious home buyers to carefully consider.
Please feel free to email or call me if you would like to discuss the Nobleboro real estate market in greater detail.
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