The focus of this coastal Maine real estate market report  is on the lower mid coast region including Bath, Brunswick, Freeport, Phippsburg, Georgetown and Arrowsic.   The median sold price for the region as a whole in 2009 was 228K, down about 9% from 250K in 2008.  Thanks in large part to the strong 2nd half of the year, volume remained relatively unchanged, actually up 2% from 2008 levels.    The City of Ships, Bath Maine saw the largest swings in volume, up 50% whilst the coastal waterfront peninsulas of Phippsburg, Georgetown and Harpswell were hit the hardest with volume down about 20%.  The real estate market of Brunswick Maine is the largest in the region accounting for approximately 1/3 of all volume.   The time it took to sell a home aka the Days on Market (DOM) was down about 3% for the entire region with Bath seeing a 49% decrease helping to lead the way.

Please click here for the complete 2009 mid coastal real estate housing report.
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The Brunswick Maine real estate markets continue to post strong figures as we enter the end of the Fall season. Despite the closign of the naval air station, volume has been strong througout the Summer and Fall season. For the most recent month ending October 31st, 23 transactions took place, up 15% from  last year.  The median price clocked in at 185K, still off a bit more than 10% from October 2008, but holding strong month over month, up 11% from September.  As we move forward and into the winter, I would expect this market to fair better than Bath, 10 minutes farther up the coast and away from Portland.  It seems the Brunswick housing market  has been and continues to be a bright spot in the mid coastal Maine real estate markets thankfully.

For the month ending March 2009, the real estate markets of Bath and Brunswick saw 15 total residential transactions occur compared with 16 a year prior.  The median pricing was actually down a whopping 47% in Bath but only 3% in Brunswick and the Bath number can perhaps be attributed to a small sample size overall.

The coastal Maine real estate markets have been extremely slow through the winter months, but activity on lower priced, first time homebuyer real estate has heated up and many buyers “from away” have started to look again at higher priced offerings.

The summer southern Maine real estate markets continued to trend south in August as transaction levels remained off 20%-30% from a year prior and pricing was down 10%-15% on average for the 4 counties followed.  Cumberland with Portland and Brunswick real estate markets saw a 9% reduction in average prices whilst York county saw homes lose 15% of their value from a year prior.  A small silver lining this month was seen in an ever so slight reduction in the DOM combined with a drop in inventories.   The Maine housing markets continue to chug along, but with the sharp interest rate drop last week coupled with continued tumultuous financial markets the future is anybody’s bet.  Real the overall coastal Maine housing market report for greater details and information,.

In the month of June for Southern Coastal Maine real estate the transaction levels remained down 20-25% as they have been and the pricing continues to level off and stabilize. In York and Cumberland counties which include Portland and Brunswick a 1% price fluctuation was seen from a year prior while Sagadahoc and Lincoln which includes Bath saw price variation of 5-6% attributed generally to smaller sample sizes. The Average Days on Market for all properties in all regions is increasing. Going forward I believe demand for smaller homes will increase and a decrease in demand for mid sized homes will decrease as uncertainty over the economy and energy ensues.