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Coastal Maine June 2009 report


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.

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