PORTLAND, ME (May 18, 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 additional home supply is needed across Maine. Due to higher interest rates, some buyers are being priced out of the current market, and those who could “move up” are choosing to stay. According to Maine Listings, home sales decreased 30.53 percent in April 2023 compared to April 2022. Prices, however, increased 6.21 percent to a median sales price (MSP) of $367,500. The MSP indicates that half of the homes were sold for more and half sold for less. “The number of Maine…

PORTLAND, ME (April 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 Interest rates and lower-than-normal inventory led to a single-family existing home sales decline of 16.78 percent in March. According to Maine Listings, 858 homes changed hands last month, compared to 1,031 homes in March 2022. The median sales price for homes sold rose 3.85 percent to $337,500 comparing March 2023 to March 2022. The MSP indicates that half of the homes were sold for more and half sold for less. “As spring arrives, potential buyers are adjusting to the increased mortgage…

PORTLAND, ME (March 21, 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 properties for sale continues to be an issue for buyers of single-family existing homes across Maine. According to Maine Listings, Realtors sold 708 homes last month—a dip of 19.4 percent from February 2022. Prices increased 10.7 percent in the past year, with data indicating a median sales price (MSP) of $329,250. The MSP indicates that half of the homes were sold for more and half sold for less. “Conversations with REALTORS® across Maine indicate that buyer demand remains…

PORTLAND, ME (February 21, 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 Sales of single-family existing homes in Maine continue to be affected by rising mortgage interest rates and a smaller number of available homes for sale. Maine Listings announced a 34.99 percent sales decrease in January 2023, compared to January 2022. The median sales price (MSP) for homes sold in January 2023 reached $325,000, an increase of 11.21 percent over January 2022. The MSP indicates that half of the homes were sold for more and half sold for less.

PORTLAND, ME (January 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 real estate market in Maine adjusted during the 2022 sales year due to an increase in mortgage interest rates and a shortage of available homes for sale. Statistics released by Maine Listings indicate a 17.49 percent decrease in single-family existing home sales last year. Home prices, however, continue to rise. The median sales price (MSP) for the year reached $335,000—up 12.04 percent over 2021. The MSP indicates that half of the homes were sold for more and half sold for…