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 coastal Maine real estate markets in Maine continue to chug along but remain much slower than the southern and greater Portland Maine housing markets.  Phippsburg, Georgetown and Arrowsic, located close to Bath Maine have seen no homes sold in the last 3 months whilst Harpswell has fared a bit better with 6 transactions taking place in May 2009 at a median sold price of 290K.  As the entire economy continues to move through this recession, mid coastal Maine real estate will not see a significant pick up until 2nd home buyers feel comfortable with the overall health of the economy.

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.