It’s still a seller’s market in Maine. The median home price in our area was up 7.8% in December over the same time last year, and many homes are still closing above asking. As we head into 2024, mortgage rates are expected to decline, which may shake things up a bit, but will it be…
As we enter the final days of 2023, it is interesting to look back and see how real estate trends have shifted this year. While residential real estate sales are down year to date, sales in November 2023 were only down 4.1% compared to 2022. Median selling prices are up 16.8% from the November 2022,…
Residential real estate inventory continues to trend upwards as we near the end of 2023, and nearly every town we track has sales considerably less than last year. Add to that the declining rate of price appreciation, and it seems like a shift in the market could potentially be on the horizon. Wondering if now…
I’m not sure where the year has gone, but here we are, entering the final quarter of 2023. Single family home sales continue to remain lower than last year, but after several months of decline, September did see a spike in home prices. Inventory levels have increased, but so have interest rates, which has eliminated…
The trends we saw in June continued quietly into July, with lower availability and higher pricing than this time last year. Will the upcoming change in seasons lead to a change in sales trends, or will the winter months see more of the same? Only time will tell. If you are considering buying, selling or…
The availability of single-family existing homes for sale across Maine remains tighter than normal, however there are positive signs on the horizon. Home values rose 6.5% in June 2023 compared to June 2022, and year to-date prices are up 4.5% across the state. Sales were down 19.3% compared to June 2022, mostly due to a…
In late 2022, predictions of an impending crash in home prices from market experts left many consumers skeptical about the strength of the residential real estate market. Rather than a crash, however, it appears that, after a small dip in early 2023, prices rebounded quickly and continue to increase month over month. In addition, The…
March single family home inventories are generally down across most of southern Maine compared to the same period last year, while the once rapidly increasing prices seem to be slowing a bit. With home sale season gearing up, it will be interesting to see where supply and demand meet and what that means for home…
Home sale trends we saw in January continued into February, with low inventory and higher sale prices remaining the norm. As we approach what is historically peak home sale season in Maine, it will be interesting to see if there is an uptick in inventory on the market, or if availability remains low. Check out…
Sales results for January are impacted by the scarce for-sale inventory, recent upward adjustments to mortgage interest rates, and the end of year holiday season. In most communities across Maine, buyers cannot find enough for-sale housing inventory to meet their needs. Compared to pre-pandemic January 2020, Maine has just over 2,100 homes for sale statewide…
