The month ending October 31st 2008 saw little change from current market trends in the Southern Maine real estate markets..  On average the transaction volume remains down 10% from a year prior and average sold prices are 10-15% off last years numbers.  However on a month over month analysis the average pricing appears to have leveled off.  This past month saw a significant increase in days on market averages for 3 out of the 4 counties followed pointing towards a slow road ahead.  Significant decreases in inventory levels did occur as well this past month as parties traditionally take their homes off the market for the coming winter season.

Maine Housing Statistics:
Sold Properties by County – Sep 08 (Sep 07) (% Change):
         # Sold                          Avg. Price                   Avg. Days on Market 
York                185 (210)(-12%)            262K (286K)(-8%)              137 (152) (-10%)
Cumberland      259 (280)(-8%)             269K (312K)(-14%)              119 (91) (31%)
Sagadahoc       36 (35)(3%)                   212K (236K)(-10%)               114(97) (18%)
Lincoln             32 (44)(-27%)               300K (286K) (5%)             215 (192) (12%)
Thanks for reading about real estate in Southern Maine

Thus far in 2008 the South Portland Maine real estate market has seen 272 properties sold at an average transaction price of 255K after sitting on the market for 62 days.

Contrasting this with what is currently on the market:  159 properties: 108 single family with an average asking price of 298K and 51 condos with an average asking price of 230K one can see that the asking prices in this market are a bit too high and thus contributing to a significantly longer days on market for current listings: 222 for condos and 91 for single family homes.
You can find more information on Greater Portland Maine real estate here.

Recently doing some research on waterfront real estate in Harpswell, here is what I found.

Current waterfront listings total 67, 40 if you limit to properties over 500K and 8 over a million.  In the 12 trailing months Harpswell Maine real estate  saw 42 homes sell at an average price of 510K with a DOM average of 199 days.  In 2007 there were 61 homes sold with an average price of 657K and DOM of 127 days.