South Berwick Market Conditions

By
Real Estate Agent with Ogunquit Sunrise Properties

Prices have come down and interest rates are still doing well...Many buyers are hoping to come into the Maine market and get a lot for their money....but the truth is that many sellers have already marked prices as low as they possibly can....Sellers today are having to go to closing with some cash in order to clear title...

Buyers may want to understand the market that they are shopping in first of all.....for example Biddeford is a little different from Ogunquit....and the prices will dictate that....

It is nice to see buyers doing their homework over the internet before seeking to see a property, but keep in mind that many properties out there are in an up side down loan and sellers can decrease their prices just so far..

Overall many properties are closing at 15% under the accessed values....Of course each property and each situation is unique.


ZIP Code: 03908

Location Characteristics: South Berwick is a town in York County, Maine, United States. The population was 6,671 at the 2000 census. South Berwick is home to Berwick Academy, a private, co-educational university-preparatory day school founded in 1791. It is part of the Portland-South Portland-Biddeford, Maine Metropolitan Statistical Area.

As of the census[1] of 2000, there were 6,671 people, 2,403 households, and 1,847 families residing in the town. The population density was 207.5 people per square mile (80.1/km²). There were 2,488 housing units at an average density of 77.4/sq mi (29.9/km²). The racial makeup of the town was 97.63% White, 0.30% African American, 0.30% Native American, 0.66% Asian, 0.27% from other races, and 0.84% from two or more races. Hispanic or Latino of any race were 0.67% of the population.

There were 2,403 households out of which 44.0% had children under the age of 18 living with them, 64.3% were married couples living together, 8.7% had a female householder with no husband present, and 23.1% were non-families. 18.4% of all households were made up of individuals and 6.7% had someone living alone who was 65 years of age or older. The average household size was 2.76 and the average family size was 3.17.


The David Cummings & Company Shoe Factory in c. 1910In the town the population was spread out with 30.4% under the age of 18, 5.4% from 18 to 24, 32.8% from 25 to 44, 23.0% from 45 to 64, and 8.4% who were 65 years of age or older. The median age was 36 years. For every 100 females there were 97.4 males. For every 100 females age 18 and over, there were 93.0 males.

The median income for a household in the town was $53,201, and the median income for a family was $59,330. Males had a median income of $40,107 versus $25,729 for females. The per capita income for the town was $21,118. About 2.8% of families and 2.9% of the population were below the poverty line, including 1.3% of those under age 18 and 7.1% of those age 65 or over.


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Maine York County South Berwick Town Of South Berwick
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sellers
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