Archive for Press Releases

MEREDA Index: State’s real estate activity hits 10-year high

The MEREDA Index, a quarterly measure of real estate activity in Maine, hit a 10-year peak through the third quarter of 2017, reaching 96 overall in a composite measurement covering new development, transactions involving existing properties, residential and commercial development.

“The chief takeaway is that the commercial and residential real estate markets, as well as construction employment, are continuing to be very strong,” Paul Peck, an attorney at Drummond & Drummond who serves as president of the Maine Real Estate and Development Association’s board, told Mainebiz in a telephone interview prior to the unveiling of the index at MEREDA’s annual real estate forecast conference today in Portland that was attended by more than 800 people. “It’s the highest level we’ve been at since the index began in the first quarter of 2006 — so that’s good news for Maine.”

Peck, who also is a principal at LWS Development, said the real estate sector has become the second-most-important driver of Maine’s GDP, behind only health care, according to the U.S. Bureau of Economic Analysis.

Peck pointed out that construction employment posted a 6.7% increase during the past six months, which is one of the strongest six-month periods for that indicator since 2010.

“That’s significant,” he said. “Those a very good-paying jobs.”

In his written comments within the MEREDA Index report, Peck acknowledged that the flip side of the positive growth trend in construction employment — which includes both development and redevelopment in both the residential and commercial sectors — is the continuing challenge Maine contractors and subcontractors face in finding the workers they need.

“Growing capacity on the construction side of our industry will be the key to maintaining our economic trajectory,” Peck stated. “The demand exists, and this segment would likely grow more robustly if more skilled workers were available.”

Peck said MEREDA will be devoting more time and attention to workforce development in the construction trades during 2018. He said innovation and taking advantage of new building technologies involving offsite construction of modular units, which accelerate onsite construction and allow for fewer onsite workers, are two potential answers to the workforce problem that MEREDA and its members will be looking at more closely.

Commercial component

Shelly Clark, MEREDA’s vice president of operations, in her written comments reported that the MEREDA index — which is a composite of nine seasonally adjusted measures — showed a 1.5% gain over the six months from March to September 2017 and a 1.2% gain over the 12 months between September 2016 and September 2017.

The commercial component, which comprises 50% of the composite index, posted a modest retraction from the prior year, with the overall market declining by 1.6% in the six months ending in September.

“The commercial component overall still stands above the pre-recession levels (on all measures except square footage),” reported Shawn McKenna, vice president of commercial banking at Bangor Savings Bank. “This reflects the overall state of the Maine economy, which has also reached pre-recession levels of employment but is growing at a very slow pace, indicating relatively weak demand for commercial space.”

McKenna said much of the financing activity seen over the past year has been tied to “new construction projects still in the works, not yet ‘shovel ready,” and so would not dramatically impact economic indicators for another six months.

“Looking forward, there are some possible headwinds in the commercial market, primarily in the form of rising interest rates,” McKenna reported. “However, any dampening that higher interest rates may have is likely to be offset by the recent passage of the tax reform bill and continued competition among banks and other lending institutions for quality real estate transactions.”

Residential component

The residential component, which comprises 40% of the composite index, saw 5.8% growth between March and September 2017 and 5.2% for the year-to-year period that ended in September 2017. Permits for new single- and multi-family construction posted more than 20% growth on a seasonally adjusted basis from March to September.

“Demand for housing in urban centers continues to build,” reported Erin Cooperrider, development director of Community Housing of Maine and a principal of The NewHeight Group. “This was dramatically evident in Portland, with more than a dozen construction projects underway in 2017. Many of these were market-rate projects, and the ongoing need for affordable housing is acute in Portland, where 71% of renters have low incomes and 74% of local home owners were unable to afford the median home price.”

Looking ahead, Cooperrider cited worker shortages as a concern that is likely to continue in 2018. “In combination with rising interest rates, this will start to slow production,” she stated.

Construction component

The construction component, which comprises 10% of the composite index, rose 6.7% over the past six months — the strongest six-month period since 2010.

Joe Picoraro, vice president of PC Construction Co., reported that PC’s tracking and pursuit of projects mirrors the MEREDA Index’s finding that “the residential market has recently shown stronger growth metrics as compared with commercial markets.”

Picoraro reported that residential, commercial and industrial market sectors are likely to see “some level of continued growth” into 2018.

Tammy Ruda Joins as Senior Vice President

Portland and Gorham, Maine (January 3, 2018) — Legacy Properties Sotheby’s International Realty, a market leader in Maine real estate, announced today that Tammy Ruda has joined its Greater Portland Maine real estate office as a Senior Vice President.

Tammy has practiced real estate in Maine for more than 16 years specializing in residential properties and new construction and development. As a Gorham resident, she has built a strong market presence and is particularly well known for her high level of client service and market expertise.

“We are so pleased to have Tammy join our team.” says Christopher Lynch, President of Legacy Properties Sotheby’s International Realty. “She brings a passion and a depth of local market knowledge to our Greater Portland presence. She will also be a great asset in building out more of a presence in the Sebago Lake region.”

Legacy Properties Sotheby’s International Realty offers amazing global marketing resources, technology and support to offer my clients more exposure for their homes.” states Tammy Ruda. “I am impressed with the strong market share gains by Legacy Properties. I am certain my clients will be pleased with the resources available to help them achieve their real estate goals.”

A native of Bangor, Tammy’s love for the state grew from her many summers in Eastport. She resides in Gorham with her husband, Greg and son, Spencer. A big sport fan, Tammy and her family enjoy supporting all the Boston sport teams along with the University of Miami (“The U”), where her son is enrolled.

Tammy Ruda can be reached at the office at 207-780-8900, by cellular phone at 207-831-3164 and by email at truda@legacysir.com.

Sotheby’s International Realty Expands Presence to the Southern Oregon Coast

PORTLAND, ME (January 3 , 2018) – Legacy Properties Sotheby’s International Realty, with offices in PortlandKennebunkBrunswickDamariscotta, and Camden, announced that today announced that Bandon Property Sales in Bandon, Oregon, is the newest member of its global network and will now operate as Coastal Sotheby’s International Realty.

The firm, which is owned and operated by Hunter Finch, has served the luxury residential real estate markets of Bandon and the southern Oregon coast for over a decade.

“The southern coast of Oregon is ideal for year-round living,” said Philip White, president and chief executive officer of Sotheby’s International Realty Affiliates LLC. “An invigorating mix of ocean, nature, and small-town living, the area caters to a relaxed lifestyle. We are proud to have Coastal Sotheby’s International Realty showcase the Sotheby’s International Realty® brand in this market.”

“We believe in empowering real estate buyers and sellers with the tools and guidance to make informed decisions,” said Finch. “We are driven to exceed expectations and dedicated to providing the highest level or service to meet the needs of our clients. The Sotheby’s International Realty brand offers unparalleled marketing and technology which will allow us to showcase Bandon like never before to a global market.”

Coastal Sotheby’s International Realty is the second Sotheby’s International Realty affiliate in Oregon; also operating in the state is Cascade Sotheby’s International Realty with 11 offices in locations including Portland, Bend, and the northern Oregon coast.

The Sotheby’s International Realty network currently has more than 21,000 affiliated independent sales associates located in 930 offices in 69 countries and territories worldwide. In 2016, the brand achieved a record global sales volume of $95 billion USD. Coastal Sotheby’s International Realty listings will be marketed on the sothebysrealty.com global website. In addition to the referral opportunities and widened exposure generated from this source, the firm’s brokers and clients will benefit from an association with the Sotheby’s auction house and worldwide Sotheby’s International Realty marketing programs. Each office is independently owned and operated.

Legacy Properties Sotheby’s International Realty can be reached at 207-780-8900, by email at info@legacysir.comand via our website LegacySIR.comLegacy Properties Sotheby’s International Realty, with offices in Damariscotta, Kennebunk, Portland, Brunswick, and Camden, is Maine’s leading luxury and lifestyle property company with more than 70 agents and 5 offices serving Maine coastal communities from York County to Hancock County as well as the New Hampshire Seacoast.

Offices Located at:

2 City Center, Portland, ME 04101 – 207-780-8900 (Greater Portland Real Estate)

141 Maine Street, Brunswick, ME 04011 – 207- (Mid-Coast Maine Real Estate)

150 Port Road, Lower Village, Kennebunk, ME 04043 – 207-967-0934 (York, Ogunquit, Kittery, the Kennebunks, Biddeford and Seacoast New Hampshire)

170 Main Street, Damariscotta, ME 04543 – 207-563-2775 (Bristol, Christmas Cove, Boothbay Harbor)

46 Bay View Street, Camden, ME 04843 – 207-230-1003 (Camden, Rockport, Mount Desert, Mid-Coast)

Maine Home Sales Up 11.46 Percent In November 2017

PORTLAND, ME (Dec 20, 2017) Legacy Properties Sotheby’s International Realty, with offices in DamariscottaPortlandKennebunkBrunswick, and Camden,  has  announced that sales of single-family existing homes increased by double digits last month. According to Maine Listings, Realtors across the state sold 1,576 homes during November, which represents an increase of 11.46 percent from a year ago. The median sales price (MSP) for those homes rose 4.24 percent to $200,000. The MSP indicates that half of the homes were sold for more and half sold for less.

“The slightly slower pace of winter is a great time to sell and buy real estate,” says Greg Gosselin, Broker/Owner of Gosselin Realty Group in York and 2017 President of the Maine Association of REALTORS®. “Buyers tend to be serious and pre-qualified for mortgage financing. Since fewer homes are coming onto the market during the holidays, sellers who list their homes for sale get added attention for their properties. Homes that are properly prepared, positioned, and priced will sell whether it snows or not.

“Through November, the number of home sales statewide in 2017 has exceeded the best-ever 2016 by 0.6 percent. We’re hoping that strong sales activity in December will push 2017 to claim the number one all-time ranking,” added Gosselin.

The National Association of Realtors reported a 3.2 percent national increase in sales of single-family existing homes across the country. The national MSP rose 5.4 percent to $248,800. Regionally, sales in the Northeast were up 6.7 percent and the regional MSP rose 4.0 percent to $273,600.

Below are two charts showing statistics for Maine and its 16 counties. The first chart lists statistics for the month of November only, statewide. The second chart compares the number of existing, single-family homes sold (units) and volume (MSP) during the rolling quarter of September, October and November of 2016 and 2017.

Legacy Properties Sotheby’s International Realty can be reached at 207-780-8900, by email at info@legacysir.comand via our website LegacySIR.comLegacy Properties Sotheby’s International Realty, with offices in Portland, Kennebunk, Damariscotta, Brunswick, and Camden, is Maine’s leading luxury and lifestyle property company with more than 70 agents and 5 offices serving Maine coastal communities from York County to Hancock County as well as the New Hampshire Seacoast.

Offices Located at:

2 City Center, Portland, ME 04101 – 207-780-8900 (Greater Portland Real Estate)

141 Maine Street, Brunswick, ME 04011 – 207- (Mid-Coast Maine Real Estate)

150 Port Road, Lower Village, Kennebunk, ME 04043 – 207-967-0934 (York, Ogunquit, Kittery, the Kennebunks, Biddeford and Seacoast New Hampshire)

170 Main Street, Damariscotta, ME 04543 – 207-563-2775 (Bristol, Christmas Cove, Boothbay Harbor)

46 Bay View Street, Camden, ME 04843 – 207-230-1003 (Camden, Rockport, Mount Desert, Mid-Coast)

Maine Home Prices Rise 8 Percent In October

PORTLAND, ME (Nov. 21, 2017) 

Legacy Properties Sotheby’s International Realty, with offices in DamariscottaPortlandKennebunkBrunswick, and Camden,  has  announced that home buyers across Maine have been active this fall season. Maine Listings announced today that sales of single-family existing homes increased by 8.05 percent in October 2017, statewide, compared to October 2016. Prices also jumped 6.49 percent to a median sales price (MSP) of $205,000 comparing October 2017 to October 2016. The MSP indicates that half of the homes were sold for more and half sold for less.

“We’ve been hearing for many months that a shortage of for-sale inventory had hindered the potential for 2017 real estate markets. While the for-sale inventory levels continue to be historically low, they are increasing, and buyers are now finding options and purchasing the right home for their needs,” says Greg Gosselin, Broker/Owner of Gosselin Realty Group in York and 2017 President of the Maine Association of REALTORS®.

“The past four months, including these very strong October numbers have brought us on par with the record-setting 2016. To date in 2017, the number of home sales statewide is just 0.4 percent below last year. Buyers hoping to be settled before winter should provide a strong ending to the year,” added Gosselin.

According to the National Association of Realtors, sales of single-family existing homes eased 1.0 percent nationally comparing October 2017 to October 2016. The national MSP reached $248,300 in October, a 5.4 percent increase. Regionally, sales in the Northeast rose 4.2 percent and the regional MSP jumped 6.6 percent to $272,800 last month.

Below are two charts showing statistics for Maine and its 16 counties. The first chart lists statistics for the month of October only, statewide. The second chart compares the number of existing, single-family homes sold (units) and volume (MSP) during the rolling quarter of August, September and October of 2016 and 2017.

Legacy Properties Sotheby’s International Realty can be reached at 207-780-8900, by email at info@legacysir.comand via our website LegacySIR.comLegacy Properties Sotheby’s International Realty, with offices in Portland, Kennebunk, Damariscotta, Brunswick, and Camden, is Maine’s leading luxury and lifestyle property company with more than 70 agents and 5 offices serving Maine coastal communities from York County to Hancock County as well as the New Hampshire Seacoast.

Offices Located at:

2 City Center, Portland, ME 04101 – 207-780-8900 (Greater Portland Real Estate)

141 Maine Street, Brunswick, ME 04011 – 207- (Mid-Coast Maine Real Estate)

150 Port Road, Lower Village, Kennebunk, ME 04043 – 207-967-0934 (York, Ogunquit, Kittery, the Kennebunks, Biddeford and Seacoast New Hampshire)

170 Main Street, Damariscotta, ME 04543 – 207-563-2775 (Bristol, Christmas Cove, Boothbay Harbor)

46 Bay View Street, Camden, ME 04843 – 207-230-1003 (Camden, Rockport, Mount Desert, Mid-Coast)

Ground Breaking Ceremony for Twenty Thames, Luxury Condominium Development

 

Portland, Maine (November 21, 2017) – Twenty Thames, located in the heart of Portland’s vibrant Eastern Waterfront neighborhood, and offering twenty-eight luxury two to three-bedroom condominium units, held their official ground breaking ceremony on Wednesday, November 15, 2017.

Presenting sophisticated contemporary design and features, including valet parking for up to two cars per unit, an amenity more commonly found in larger city markets, Twenty Thames is the only fully steel and concrete constructed residential building in this part of Portland, Maine.

Twenty Thames is being developed by EssexNorth Portland, with building design by Archetype Architects, interior design by Urban Dwellings, and construction management by Wright-Ryan Construction. The units are being marketed by Elise Kiely and Sandra Wendland of Legacy Properties Sotheby’s International Realty.

“Twenty Thames will be the crown jewel in the robust Eastern Waterfront neighborhood, offering a sophisticated and contemporary interior design and uniquely positioned to capture stunning views overlooking Casco Bay while a short stroll to all that Portland has to offer from fine food and boutiques to a waterfront promenade and trail system right out your front door,” said developer, Ara Aftandilian of EssexNorth Portland.

The units range in size from 1,210 to over 2,000 square feet, with prices from the mid $500,000 range to over $2 million. Several of the units will have walk out balconies. The two water-facing sixth floor penthouses will have expansive 700+ square foot balconies.

“Twenty Thames is drawing local buyers who want to have the active walkable lifestyle for work and entertainment that this part of Portland offers, as well as out of state buyers who are looking to Portland, Maine as an attractive and more manageable alternative to the Boston or New York condo market,” said Elise Kiely and Sandra Wendland, both Senior Vice President at Legacy Properties Sotheby’s International Realty.

For additional information on Twenty Thames, please visit twentythames.com. The Sales Office is located at 208 Fore Street, Portland, Maine 04101. Office hours are Tuesdays and Thursdays from 11:00 AM to 1:00 PM, Saturdays from 10:00 AM to 12:00 PM, or by appointment.

Elise Kiely can be reached at elise@elisekiely.com or 207-838-1050. Sandra Wendland can be reached at swendland@legacysir.com or 207-233-7788. Legacy Properties Sotheby’s International Realty is located at Two City Center, Portland, Maine 04101. Please visit Legacy Properties Sotheby’s International Real Estate on facebook and our Blog.

Sotheby’s International Realty Brand Expands Presence in the Florida Keys

PORTLAND, ME (November 17 , 2017) – Legacy Properties Sotheby’s International Realty, with offices in DamariscottaPortlandKennebunkBrunswick, and Camden, announced that its independently owned and operated affiliate, Ocean Sotheby’s International Realty in Islamorada, Florida, has acquired Engel & Völkers Florida Keys. The acquired firm will now operate as Ocean Sotheby’s International Realty.

The acquisition expands Ocean Sotheby’s International Realty into new markets, including Marathon and Key West, while continuing to serve the luxury residential real estate market in Islamorada. With this addition, the firm has now grown to over 30 independent sales associates.

“Ocean Sotheby’s International Realty has prospered in its local market and we are proud to support their growth in the Florida Keys,” said Philip White, president and chief executive officer, Sotheby’s International Realty Affiliates LLC. “The Keys are a prominent Florida destination and this acquisition strengthens the firm’s position to serve clientele across the region. Despite being impacted by the hurricanes earlier this year, Ocean Sotheby’s International Realty has persevered to carry on a businessas-usual approach, and we wish them continued success.”

Russell Post is the broker/owner of Ocean Sotheby’s International Realty and will remain at the helm of the operation. Bob Cardenas, former broker/owner of the acquired office, will now serve as broker/owner at Ocean Sotheby’s International Realty.

“This addition provides our company with greater exposure in Marathon and Key West and allows us to better serve clients in the middle and lower Keys,” said Post. “We are proud to welcome Bob Cardenas and his team to our organization.”

“Ocean Sotheby’s International Realty is a well-known and respected company. We are thrilled to be joining this firm and look forward to the opportunity to connect our clients with the finest international network and premier level of worldwide exposure,” added Cardenas.

The acquired offices are located at 420 Flemming Street in Key West and 12240 Overseas Highway in Marathon, and will complement the company’s existing office at 81888 Overseas Highway in Islamorada. Post also owns and operates Russell Post Sotheby’s International Realty which serves the Ocean Reef Community in Key Largo. With this addition, the Sotheby’s International Realty® network now has 61 branded offices throughout the state of Florida.

The Sotheby’s International Realty network currently has more than 21,000 affiliated independent sales associates located in 930 offices in 69 countries and territories worldwide. In 2016, the brand achieved a record global sales volume of $95 billion USD. Ocean Sotheby’s International Realty listings will be marketed on the sothebysrealty.com global website. In addition to the referral opportunities and widened exposure generated from this source, the firm’s brokers and clients will benefit from an association with the Sotheby’s auction house and worldwide Sotheby’s International Realty marketing programs. Each office is independently owned and operated.

Legacy Properties Sotheby’s International Realty can be reached at 207-563-2775, by email at info@legacysir.comand via our website LegacySIR.comLegacy Properties Sotheby’s International Realty, with offices in Damariscotta, Kennebunk, Portland, Brunswick, and Camden, is Maine’s leading luxury and lifestyle property company with more than 70 agents and 5 offices serving Maine coastal communities from York County to Hancock County as well as the New Hampshire Seacoast.

Offices Located at:

2 City Center, Portland, ME 04101 – 207-780-8900 (Greater Portland Real Estate)

141 Maine Street, Brunswick, ME 04011 – 207- (Mid-Coast Maine Real Estate)

150 Port Road, Lower Village, Kennebunk, ME 04043 – 207-967-0934 (York, Ogunquit, Kittery, the Kennebunks, Biddeford and Seacoast New Hampshire)

170 Main Street, Damariscotta, ME 04543 – 207-563-2775 (Bristol, Christmas Cove, Boothbay Harbor)

46 Bay View Street, Camden, ME 04843 – 207-230-1003 (Camden, Rockport, Mount Desert, Mid-Coast)

Susan Desgrosseilliers Joins as Vice President

Susan Desgrosseilliers

Portland and Camden, Maine (October 24, 2017)— Legacy Properties Sotheby’s International Realty, Maine’s leading Luxury Property company, is proud to announce Susan Desgrosseilliers has joined its team of Maine real estate professionals as a Vice President in its Camden Maine real estate office.  

Susan, a Maine resident who splits her time between Portland and the Mid-Coast, has broad business experience having held positions as Business Development Representative for the City of Portland, Executive Director of the Rockland/Thomaston Chamber of Commerce, Regional Director of Marketing for Ocean Properties and for the past 15 years working in design as the owner of Fixtures Maine, LLC.  

“We are thrilled to have Susan join our team” says Christopher Lynch, President of Legacy Properties Sotheby’s International Realty. “She has an incredible business, real estate and design background that will be a great asset to her clients and our agency.”

In addition to her roles in economic development, marketing and design, Susan has built a business around the redevelopment, rental and resale of more than 16 properties in Portland, Mid-coast Maine and Florida. Utilizing her degree in Business Administration and her extensive real estate experience, Susan has a wealth of knowledge in both commercial and residential property sales.

“I am excited to join Legacy Properties Sotheby’s International Realty” says Susan.  “I have been very impressed with the agents, the staff and the incredible marketing opportunities available to me.  I feel fortunate to be associated with a truly global company and a terrific group of real estate professionals.”

Outside of real estate, Susan is passionate about her commitment to the Make-a-Wish Foundation where she has served on the Board of Directors for the past 8-years.

Susan Desgrosseilliers can be reached at the office at 207-230-1003, by cellular phone at 207-975-4304 and by e-mail at SusanD@Legacysir.com.

 

Maine Home Prices Rise 3.54 Percent In June

PORTLAND, ME (July 24, 2017) – Legacy Properties Sotheby’s International Realty, with offices in DamariscottaPortlandKennebunkBrunswick, and Camden,  has  announced that  Maine real estate continues to rise in value, even with some slight declines in sales. According to Maine Listings, single-family existing homes across the state experienced a 3.54 percent increase in the median sales price (MSP), to $205,000 comparing June 2017 to June 2016. The MSP indicates that half of the homes were sold for more and half sold for less. Sales of single-family existing homes eased 3.62 percent in June.

“Coming off a record-breaking 2016, our June 2017 numbers show continued strength,” states Greg Gosselin, 2017 President of the Maine Association of REALTORS®. “For the state, the number of homes sold in June 2017 is nearly eight percent higher than the most recent three-year June average.

“Homes that are move-in ready and priced appropriately are quickly under contract. Buyers are plentiful and seeking the long-term financial benefits of home ownership.”

According to the National Association of Realtors, home sales across the country in June increased 0.7 percent compared to June 2016. The national MSP of $266,200 reflects a 6.6 percent increase. Regionally, sales in the Northeast increased 1.3 percent while the regional MSP rose 4.1 percent to $296,300.

Below are two charts showing statistics for Maine and its 16 counties. The first chart lists statistics for the month of June only, statewide. The second chart compares the number of existing, single-family homes sold (units) and volume (MSP) during the rolling quarter of April, May and June of 2016 and 2017.

Legacy Properties Sotheby’s International Realty can be reached at 207-780-8900, by email at info@legacysir.comand via our website LegacySIR.comLegacy Properties Sotheby’s International Realty, with offices in Portland, Kennebunk, Damariscotta, Brunswick, and Camden, is Maine’s leading luxury and lifestyle property company with more than 70 agents and 5 offices serving Maine coastal communities from York County to Hancock County as well as the New Hampshire Seacoast.

Offices Located at:

2 City Center, Portland, ME 04101 – 207-780-8900 (Greater Portland Real Estate)

141 Maine Street, Brunswick, ME 04011 – 207- (Mid-Coast Maine Real Estate)

150 Port Road, Lower Village, Kennebunk, ME 04043 – 207-967-0934 (York, Ogunquit, Kittery, the Kennebunks, Biddeford and Seacoast New Hampshire)

170 Main Street, Damariscotta, ME 04543 – 207-563-2775 (Bristol, Christmas Cove, Boothbay Harbor)

46 Bay View Street, Camden, ME 04843 – 207-230-1003 (Camden, Rockport, Mount Desert, Mid-Coast)

Maine Home Prices Rise 5.12 Percent In May

PORTLAND, ME (June 27, 2017) – Legacy Properties Sotheby’s International Realty, with offices in DamariscottaPortlandKennebunkBrunswick, and Camden,  has  announced that Lower-than-normal inventory of existing single-family homes in Maine led to an 8.85 percent decline in May 2017 sales. However, according to Maine Listings, the median sales price (MSP) for the 1,524 homes sold last month rose 5.12 percent to $200,000. The MSP indicates that half of the homes were sold for more and half sold for less.

“2016 was a record year for real estate in Maine,” states Greg Gosselin, 2017 President of the Maine Association of REALTORS®, “and while these current numbers show a decline from last year’s highs, the 2017 May and Rolling Quarter Statistics are the second highest numbers during this time period, since we began keeping records in 2003.

“For sale inventory is 20 percent lower than this time last year, and multiple offer situations are becoming more prevalent for properties that are move-in ready and properly priced.”

Nationally, single-family home sales increased 2.7 percent. The National Association of Realtors reported a nationwide MSP of $254,600—a 6.0 percent jump from one year ago. The Northeastern US experienced a sales increase of 2.6 percent and the regional MSP rose 4.7 percent to $281,300.

Below are two charts showing statistics for Maine and its 16 counties. The first chart lists statistics for the month of May only, statewide. The second chart compares the number of existing, single-family homes sold (units) and volume (MSP) during the rolling quarter of March, April and May of 2016 and 2017.

Legacy Properties Sotheby’s International Realty can be reached at 207-780-8900, by email at info@legacysir.comand via our website LegacySIR.comLegacy Properties Sotheby’s International Realty, with offices in Portland, Kennebunk, Damariscotta, Brunswick, and Camden, is Maine’s leading luxury and lifestyle property company with more than 70 agents and 5 offices serving Maine coastal communities from York County to Hancock County as well as the New Hampshire Seacoast.

Offices Located at:

2 City Center, Portland, ME 04101 – 207-780-8900 (Greater Portland Real Estate)

141 Maine Street, Brunswick, ME 04011 – 207- (Mid-Coast Maine Real Estate)

150 Port Road, Lower Village, Kennebunk, ME 04043 – 207-967-0934 (York, Ogunquit, Kittery, the Kennebunks, Biddeford and Seacoast New Hampshire)

170 Main Street, Damariscotta, ME 04543 – 207-563-2775 (Bristol, Christmas Cove, Boothbay Harbor)

46 Bay View Street, Camden, ME 04843 – 207-230-1003 (Camden, Rockport, Mount Desert, Mid-Coast)