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Portside's 2023 Annual Report

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Just Released: Portside’s 2023 Annual Report 

Residential real estate was a hot topic in 2023!  Despite the surge in mortgage rates, home prices continued to rise across Maine. This caused many potential home buyers to slow their searches compared to previous years as their budgets had to be adjusted due to increased interest rates aimed at [...]

January 2024 Town Stats

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January 2024 

In today's blog, we are offering a snapshot of basic market statistics for single family homes and condos in Kennebunk, Maine, for January 2024. While we provide essential data in this article, we're also here to assist you with more in-depth and comprehensive information upon request. Feel free to reach out to us if you would like a more detailed analysis or specific data points to support your real estate needs.

Navigating the Competitive Real Estate Landscape: Key Metrics for Buyers and Sellers January 2024 Recap

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January 2024, York County

The increase in the "12-Month Change in Months of Inventory" suggests a shift towards a buyer's market, while the low "Median Days Homes are On the Market" indicates a fast-paced environment. The high "List to Sold Price Percentage" signifies a market where sellers are achieving close to their asking price, and the "Median Sold Price" provides a snapshot of the current market value.

2023 1% Back to Maine Grant Recipients

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We are thrilled to share an update on the allocation of our grant funds for the year! We dedicated our resources to support organizations addressing systemic challenges in Maine, including education, generational poverty, affordable housing, substance abuse, limited access to medical care, and food insecurity. In 2023, we were able to donate over $200,000 back to our community through funding 15 deserving organizations throughout the state. Learn more about them in our blog.

Where Did Single Family Buyers Come From 2023?

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In 2023, 67.87% of single-family home buyers in Maine hailed from the state itself, highlighting a strong local preference. Out-of-state interest, led by Massachusetts at 8.11%, underscores a diverse buyer landscape. Valuable insights emerge for sellers to align strategies with the distinctive preferences of buyers from Massachusetts, New Hampshire, Florida, and New York.

Sales Prices Up + Sales Ease in Maine

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SALES DOWN AND VALUES UP IN DECEMBER:

In a press release to the media today, Maine home sales decreased -6.14% comparing December 2023 to December 2022. The median sales price (MSP) was $350,500, a 6.21% increase in that same time period. NAR reports that existing home sales were down and prices up nationally and in the northeast, comparing December 2023 to December 2022. 

 

Navigating the Competitive Real Estate Landscape: Key Metrics for Buyers and Sellers December 2023 Recap

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This blog analyzes the real estate market in York County for December 2023, focusing on key metrics such as Months Supply of Inventory, 12-Month Change in Months of Inventory, Median Days On the Market, List to Sold Price Percentage, and Median Sold Price. The data suggests a seller's market with potential shifts, offering insights for both buyers and sellers to make informed decisions.

Sales Down and Values Up in November

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In a press release to the media today, Maine home sales decreased -5.51% comparing November 2023 to November 2022. The median sales price (MSP) was $355,000, a 9.23% increase in that same time period. NAR reports that existing home sales were down, and median sales prices were up nationally and in the northeast comparing November 2023 to November 2022.

Navigating the Competitive Real Estate Landscape: Key Metrics for Buyers and Sellers November 2023 Recap

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When it comes to understanding the real estate market, there are several important metrics that can give buyers and sellers valuable insights. Today we will be specifically focusing on the correlation between various key indicators. Whether you are a buyer or a seller, understanding these metrics is crucial in making informed decisions in the ever-changing real estate market.

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