Economic News
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Maine Home Values Increase Over 14 Percent In September
PORTLAND, ME (October 20, 2023) – 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 availability of single-family existing homes in Maine remains tighter-than-normal, according to Maine Listings. Realtors around the state reported a sales total of 1,410 homes in September, down 25.4 percent compared to September 2022. The statewide median sales price (MSP) increased 14.17 percent to $376,750. The MSP indicates that half of the homes were sold for more and half sold for less. “While the number of Maine for-sale inventory in September 2023 increased two percent from August 2023 and was up…
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Presenting Our September 2023 Real Estate Spotlight: “Homebuyer Opportunities in a Complex Market”
Read the newest volume of our Real Estate Spotlight to see our President and Founder Chris Lynch’s current market analysis and tips for buyers as we approach Maine’s typically low inventory levels in winter, plus fascinating market snapshots comparing today’s regional prices and inventory to 2019, or before COVID threw the market in flux. The publication also showcases our latest extraordinary homes for sale in Maine and feature stories on unique properties.
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Maine Home Prices Increase Over 7 Percent in July
PORTLAND, ME (August 23, 2023) – 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 Single-family existing homes remain in high demand across the state of Maine. Realtors reported a 7.34 percent increase in prices in July 2023 compared to July 2022, reaching a median sales price (MSP) of $380,000. The MSP indicates that half of the homes were sold for more and half sold for less. Sales in July 2023 decreased 20.93 percent compared to a year ago. “There are still plenty of buyers seeking homes across Maine and they are facing a sustained tight…
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Iconic “Rooster Brother” Roastery & Kitchen Store in Ellsworth on the Market
The iconic Rooster Brother shop in Ellsworth, known as “The Store for Cooks and Those Who Love Them,” is on the market. With its charming atmosphere, diverse product range, and commitment to quality, Rooster Brother has become a culinary destination for local residents, returning summer folk, and tourists. The proximity to Acadia National Park makes it a prime pitstop for tourists.
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“Passive Home” Explained: Understanding Sustainable Design
This stunning energy-efficient new construction built by Ecocor, known as a “Passive House,” has low heating costs and can be net zero energy ready with the addition of solar panels on the metal roof. A Passive House, in simple terms, is the most stringent building energy standard in the world. The southern-facing state-of-the-art 3-bedroom home features Scandinavian-style finishes and is only 10 minutes from Belfast, which was voted “Best Place to Live” in 2022 by Downeast magazine.
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Maine Home Prices Increase Over Six Percent In June
PORTLAND, ME (July 20, 2023) – 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 availability of single-family existing homes for sale across the state of Maine remains tighter than normal, however there are positive signs on the horizon. Home values rose 6.45 percent in June 2023 compared to June 2022, reaching a median sales price (MSP) of $385,000. The MSP indicates that half of the homes were sold for more and half sold for less. Sales were down 19.24 percent compared to June 2022, mostly due to a lack of inventory. According to Carmen…
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Event Recap: Maine Real Estate Outlook at Damariscotta’s Lincoln Theater
Last week, more than 100 guests, clients, and Damariscotta-region locals gathered in the historic Lincoln Theater for a special “Community Appreciation” Happy Hour followed by a “Maine Real Estate Outlook” presentation from Legacy Properties Sotheby’s International Realty founder Chris Lynch and Sotheby’s International Realty Northeast United States and Canada Vice President, Robert Byrne.
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Special Event: Maine Real Estate Outlook at Damariscotta’s Lincoln Theater
The public is invited to attend our upcoming Maine Real Estate Outlook and Community Appreciation Event, hosted at the Lincoln Theater by Legacy Properties Sotheby’s International Realty in Damariscotta on Thursday, July 13. Originally built in 1870, the Lincoln Theater has undergone renovations, preserving its architectural charm while incorporating modern amenities and we are delighted to showcase this historic venue.
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Maine Home Prices Rise Over Six Percent in May
PORTLAND, ME (June 22, 2023) – 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 buyers seeking to purchase single-family existing homes in Maine continue to encounter fewer properties for sale. According to Maine Listings, prices for those homes sold increased 6.57 percent in May 2023 compared to May 2022, with a median sales price (MSP) of $373,000. The MSP indicates that half of the homes were sold for more and half sold for less. The 1,134 home sales that Realtors reported in May 2023 show a decline of 20.08 percent compared to a year ago.…
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Presenting The Legacy Collection Vol 18: Maine’s Extraordinary Homes
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, Chris Lynch, on what’s next for the Maine real estate market.
