Southern Maine monthly Wrap Up

By
Real Estate Agent with The Herrigel-Kennedy Group - Portside Real Estate

For the month ending May 31st, 2009, the Southern Maine real estate markets fared well.  Average prices for the 4 counties followed, York, Cumberland, Sagadahoc and Lincoln are off about 20% from where they were a year prior.  However taking a look at the month over month statistics, pricing has pretty much leveled off in the  southern Maine housing markets over the past few months. The hottest market from a regional point of view is the greater Portland markets, primarily South Portland and Portland proper.  The mid coastal housing region remains sluggish for the most part as the 2nd home market has yet to see a rebound. The Maine multi unit market also remains slow as foreclosures and short sales continue to jam up the process. The recent higher interest rates do not paint an ideal picture for sure but off their highs of a couple weeks ago, and with consumer confidence rising, stay optimistic for a moderately healthy summer season in Maine.

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John Herrigel

Portland, ME - Real Estate
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