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Check in with this page from time to time to read news and commentary about the midcoast Maine real estate market and an analysis of the latest Maine Association of Realtors housing reports.
Our market is, as are all real estate markets, local by nature and driven by forces both common to other real estate markets, but also unique to this one. Here you may gain that broad and local perspective you may find valuable in your decision to buy or sell real estate in midcoast Maine.
Midcoast Maine Real Estate Market News
Strange Days Indeed
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- Created on Wednesday, 09 November 2011 05:00
This has been an unusually busy fall. Normally in October in midcoast Maine we begin to go into real estate dormancy, but buyers/lookers are keeping the schedule humming along and the activity is continuing into November. Maine's housing sale numbers were up in both August - images/mainehousingreport-august2011.pdf and September - images/mainehousingreport-september2011.pdf with 14.74% and 7.56% increases repectively and with September reporting increases in 15 out of 16 counties. Local interest rates are hovering between 4% - 4.5% for a 30 year fixed, no points and the Fed's tool box is almost empty, so these rates may be the best we see. Europe seems to be making progress on what had seemed an intractable debt crisis. The jobs numbers from Washington, while not stellar, are showing an economy that is not slipping into another recession. Buyers are aware of the changing business climate and are beginning to skim the cream of the real estate inventory. Even the mid-range which had been comatose has started to gather attention. Bottom fishers are so focused on finding the exact bottom that they often forget the importance of and consequently don't see the change in the overall trend.
