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Sugarloaf ends 2011 with $10.4 million in real estate sales

CARRABASSETT VALLEY, Maine – Sugarloaf’s real estate agency, Mountainside Real Estate, recently announced that, despite the struggling real estate market, it finished the year with $10.4 million in sales, a result of 60 properties sold in 2011. The 60 sales mark a 20 percent increase since 2009.

 

The numbers are a positive sign, according to Designated Broker Jeff Kennedy.

 

“This year’s number are on pace with what we saw last year, and that’s a good sign that the market is stabilizing,” he said. “The total of 60 sales is especially encouraging. The market is there, people are interested, and they’re still investing in our area."

 

Mountainside finished the year on a high note, with the year’s strongest numbers coming in December of 2011. Sales were fairly consistent throughout the rest of the year.

 

According to Kennedy, sales in 2011 were primarily ski-in-ski-out properties, though there was activity in all sectors, including golf course properties.

 

Available inventory is noticeably shrinking, which is another positive sign for the Mountainside team, and paves the way for new construction projects to go forward this summer. 

 

“The shrinking inventory tells us that things are really starting to turn around,” Kennedy said. “If you look back to the 90s and the last big downturn in the real estate market, as soon as the excess inventory was sold off, that’s when things really started to pick back up again. It’s basic supply and demand.”

 

For more information on Mountainside Real Estate, and to view all available properties, please visit www.sugarloafmountainside.com.