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Coastal Maine 2009 Housing Year in Review

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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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Coastal Maine June 2009 report

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The ME coastal real estate communities of Phippsburg and Georgetown saw some life this June for the first time in many months with 5 transactions closing at a median price point of 300K.  This contrasts with 6 homes selling at a median price of 235K in June of 2008.  Prior to this month, there had been no transaction in either of the communities since February.  With the state  giving Maine first time home buyers a 5K gift, coupled with the federal governments 8K tax credit many buyers are looking to cash in, particularly given the lower interest rates and stabilizing Maine home prices.


Mid Coastal Real Estate 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.


Mid Coastal Maine Home Sales November 2008

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Combining the lower mid coastal Maine towns of Phippsburg, Arrowsic, Georgetown and Harpswell for the month ending November 2008 7 transactions took place at an average transaction price of 375K. Generally about half of these transactions involve Maine waterfront property.  Compared to 2007 where 12 transactions occurred at an average price of 575K, one can see the markets remain slow and quiet.  The average days on Market for November  topped 200 this month compared with 109 from the  year prior.