Southern Maine summer real estate slow down

Southern Maine and Greater Portland real estate pricing saw a significant drop in the month of July compared to previous reports.  A 22% drop in York county was seen with the rest of the counties falling about 7% on average.  Transaction levels remained down about 15% in both Southern Maine and coastal real estate markets.   The more stable York and Cumberland counties remained about where they were a year ago with regard to days on market.   The biggest concerns and market indicators as we enter the fall season will be the price of oil and the lending practices of the banking industry.