Sales of single-family existing homes across Maine in dipped in August by 9.9% compared to August 2021. Values, however, remained high, with the median sales price for reaching $340,000, an increase of 9.7% over August 2021.
While inventory levels have increased slightly in recent months, they are still below what would be considered a balanced market. As a result, buyers are approaching these market trends in a more strategic fashion, with contract contingencies and seller concessions becoming more common.
Curious about how you might fare in today’s real estate market? I hope you’ll feel free to reach out with any questions or comments you may have and, as always, I hope you’ll consider hiring me as your broker if you are interested in buying, selling, or investing in a home.