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Coastal Maine Markets Chug Along

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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,.

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