Economic News

  • Economic News,  homes for sale in maine,  Maine News,  Maine Real Estate,  maine waterfront real estate,  Real Estate News

    A Closer Look at the COVID Market Rally

    As the COVID market rally seems to be coming to an end, a rapid rise in mortgage rates, inflation, and heightened volatility in the stock market have changed the dynamics of the real estate market across the country, but what are the implications for Maine? Below are helpful graphics to understand the shift in the real estate market from 2019 to today in competitive coastal communities across the state.

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  • Economic News,  Maine Real Estate,  Real Estate News,  The Legacy Collection

    What’s Next for Maine Real Estate? – The Legacy Collection Vol. 17

    We present our latest edition of the Legacy Collection, a digital magazine showcasing extraordinary homes for sale across Maine, including an opening letter from our President on what’s next for the Maine real estate market.

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  • Economic News,  Maine Real Estate,  Press Releases,  Real Estate News

    Maine Home Prices Increase 3 Percent In September

    PORTLAND, ME (October 22, 2022) – Legacy Properties Sotheby’s International Realty, Maine’s leading luxury property company, with offices in Portland, Kennebunk, Brunswick, Damariscotta, Camden, and Northeast Harbor, announces that home prices may be stabilizing, according to the Maine Association of Realtors. Sales remain strong; Maine Listings today reported a median sales price (MSP) of $330,000 for the 1,890 single-family existing homes sold in September. The MSP indicates that half of the homes were sold for more and half sold for less. Comparing September 2022 to September 2021, sales did ease 8.56, through demand for homes resulted in a price increase of 3.13 percent. “Nearly 1,900 homes were sold during September,…

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  • Economic News,  LPSIR Featured,  Maine Real Estate

    Find Out What Your Home Is Worth

    Do You Know the Value of your Home? Find Out Here! In a shifting market, it’s more important than ever to keep up to date on your home’s value. Our online residential property valuation service lets you discover the estimated current value of your home in seconds. Give it a try here! While our home valuation service is a powerful tool, it is far from perfect in our dynamic and complex Maine market. Many factors determine the current value of a home, from the location and neighborhood, the age and size of the home, recent updates and improvements, and fluctuating demand. Our team of professional real estate agents are experts…

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  • Economic News,  Maine Real Estate,  Press Releases,  Real Estate News

    Maine Home Prices Increased Nearly 10 Percent In August

    PORTLAND, ME (September 21, 2022) – Legacy Properties Sotheby’s International Realty, Maine’s leading luxury property company, with offices in Portland, Kennebunk, Brunswick, Damariscotta, Camden, and Northeast Harbor, announces Sales of single-family existing homes across Maine in August dipped 9.89 percent compared to August 2021, according to Maine Listings. Values remain high in August, as the median sales price for the 1,859 homes sold reached $340,000, an increase of 9.68 percent over August 2021. The MSP indicates that half of the homes were sold for more and half sold for less. “Demand for single family homes in Maine remains strong, with more than 1,850 sold during August,” says Madeleine Hill, 2022…

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  • Economic News,  Maine Real Estate,  Press Releases,  Real Estate News

    Maine Home Prices Rise 12 Percent In July

    PORTLAND, ME (August 18, 2022) – Legacy Properties Sotheby’s International Realty, Maine’s leading luxury property company, with offices in Portland, Kennebunk, Brunswick, Damariscotta, Camden, and Northeast Harbor, announces that home buyer interest across Maine continued at a healthy pace in July. Lower than normal for-sale inventory, however, is affecting the market. According to Maine Listings, Realtors sold 1,691 homes statewide in July, a decrease of 15.28 percent from July 2021. The median sales (MSP) price reached $354,000 in July 2022, an increase of 12.38 percent over July 2021. The MSP indicates that half of the homes were sold for more and half sold for less. “Nearly 1,700 households bought homes…

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  • Economic News,  Maine Real Estate,  Press Releases,  Real Estate News

    Maine Home Prices Increase 16 Percent in June

    PORTLAND, ME (July 20, 2022) – Legacy Properties Sotheby’s International Realty, Maine’s leading luxury property company, with offices in Portland, Kennebunk, Brunswick, Damariscotta, Camden, and Northeast Harbor, announces that the housing market in Maine is beginning to feel the effects of rising interest rates. Sales of single-family existing homes declined 9.83 percent last month, according to Maine Listings. The statewide median sales price (MSP) hit $360,825 in June 2022—an increase of 16.4 percent compared to June 2021. The MSP indicates that half of the homes were sold for more and half sold for less. “Discussions with REALTORS® across Maine indicate that some are experiencing a ‘pause’ in their market areas,”…

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  • Economic News,  Maine Real Estate,  Press Releases,  Real Estate News

    Maine Home Prices Increased 14.75 Percent In May

    PORTLAND, ME (June 21, 2022) – Legacy Properties Sotheby’s International Realty, Maine’s leading luxury property company, with offices in Portland, Kennebunk, Brunswick, Damariscotta, Camden, and Northeast Harbor, announces that Maine home values remain high, while for-sale inventory is still a limiting factor for those seeking to purchase single-family existing homes in Maine. According to Maine Listings, the median sales price (MSP) statewide reached $350,000 in May 2022—an increase of 14.75 over May of 2021. The MSP indicates that half of the homes were sold for more and half sold for less. Sales eased 11.97 percent statewide, comparing May 2022 to May 2021. “While still historically low, during March, April, and…

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  • Belmont Maine Real Estate,  Economic News,  homes for sale in maine,  Listings We Love,  Maine Real Estate

    “Passive Home” Explained: Understanding Sustainable Design

    This stunning energy-efficient new construction built by Ecocor, known as a “Passive House,” will cost approximately $300 annually to heat. A Passive House, in simple terms, is the most stringent building energy standard in the world. A Passive House uses high levels of insulation so that it retains heat efficiently. Combined with airtight, thermal bridge free construction, triple-glazed windows, and balanced mechanical ventilation, Passive Houses achieve heat loads so low that they are often able to be heated with a small heat pump, for example, and cost very little to heat and cool, even in colder climates like Maine.

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  • Economic News,  Maine Real Estate,  Press Releases,  Real Estate News

    Maine Home Prices Increased 25% In April While the Number of Homes Sold Fell 21%

    PORTLAND, ME (May 19, 2022) – Legacy Properties Sotheby’s International Realty, Maine’s leading luxury property company, with offices in Portland, Kennebunk, Brunswick, Damariscotta, Camden, and Northeast Harbor, announces that the price for a single-family existing home in Maine increased 25.36 percent in April 2022 compared to April a year ago. The Maine Association of Realtors today announced that 1,143 homes changed hands in April 2022, a decrease of 20.90 percent over April of last year. The statewide median sales price (MSP) for homes sold reached $346,000. The MSP indicates that half of the homes were sold for more and half sold for less. “Despite the constrained for-sale inventory, Maine’s real…

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