" " " Maine's Waterfront Real Estate News

Sunday, July 29, 2018

Median Sales Price of Single-Family Homes in Maine Up 10.98% in June


AUGUSTA (July 23, 2018)The Maine summer real estate sales season is in full swing. According to the Maine Association of REALTORS®, REALTORS® around the state sold 1,937 single-family existing homes in June 2018, an increase of 2.54 percent over June 2017. Home values experienced double-digit gains, with a 10.98 percent jump in the median sales price to $227,500. The MSP indicates that half of the homes were sold for more and half sold for less.

"It’s been a strong year for much of Maine and inventory is moving quickly," says Kim Gleason, 2018 President of the Maine Association of REALTORS® and Broker/Owner of McAllister Real Estate in Hallowell. "The number of sales during the first six months of 2018 are nearly 2 percent ahead of the first six months of 2017, which was Maine’s best ever.

"In some areas of Maine, the markets are tightmultiple offers are prevalent, and prices show upward pressure."


The National Association of Realtors today reported a national sales dip of 2.3 percent, while prices rose 5.2 percent to an MSP of $279,300. Regionally, home sales in the Northeast eased 4.0 percent over the past year and the regional MSP increased 3.3 percent to $305,900.
"Maine real estate continues to be a great investment, and those thinking of buying or selling need to consult early on with a REALTOR® who is knowledgeable of the local area for the best strategy and successful outcome," adds Gleason.

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 2017 and 2018. (Continued)

Maine Real Estate Statistics June 2018 Housing Report7/23/18Page 2 of 2 JUNE ONLY CHART
June 1-30, 2017 June 1-30, 2018
NUMBER OF UNITS MEDIAN SALES PRICE
2017 2018 %Change 2017 2018 %Change
STATEWIDE 1889 1937 2.54% $205,000 $227,500 10.98%
ROLLING QUARTER CHART
From April 1, 2017 June 30, 2017 and
April 1, 2018 June 30, 2018
NUMBER OF UNITS MEDIAN SALES PRICE
2017 2018 %Change 2017 2018 %Change
STATEWIDE 4519 4641 2.70% $ 197,400 $ 218,500 10.69%
Androscoggin 283 300 6.01% $ 160,000 $ 175,000 9.38%
Aroostook 131 173 32.06% $ 90,000 $ 97,000 7.78%
Cumberland 1037 1115 7.52% $ 295,050 $ 312,000 5.74%
Franklin 103 110 6.80% $ 118,000 $ 138,500 17.37%
Hancock 200 191 -4.50% $ 194,500 $ 200,000 2.83%
Kennebec 425 438 3.06% $ 147,500 $ 162,250 10.00%
Knox 161 171 6.21% $ 210,000 $ 245,750 17.02%
Lincoln 148 122 -17.57% $ 191,000 $ 221,250 15.84%
Oxford 212 192 -9.43% $ 140,000 $ 149,000 6.43%
Penobscot 464 466 0.43% $ 150,000 $ 139,000 -7.33%
Piscataquis 66 80 21.21% $ 102,500 $ 110,000 7.32%
Sagadahoc 140 142 1.43% $ 219,250 $ 235,000 7.18%
Somerset 164 156 -4.88% $ 105,000 $ 115,750 10.24%
Waldo 113 104 -7.96% $ 157,000 $ 186,000 18.47%
Washington 90 90 0.00% $ 112,250 $ 112,450 0.18%
York 782 791 1.15% $ 255,000 $ 279,900 9.76%

Sunday, August 6, 2017

Ten Valuable Tips You Should Know Before Buying Waterfront Property in Maine

These tips are intended to be a check-list for you to consider before purchasing Maine waterfront real estate, hopefully helping you to become a better informed buyer.

Most of these tips are just common sense suggestions that any careful buyer would be concerned about anyway – but we are talking about Maine and waterfront property, and there are a few twists and turns you may not be aware of – so perhaps these will spark a few new thoughts for you to consider…

They are not intended to discourage or scare you away from buying Maine waterfront property – as we firmly believe this is the most solid segment of the Maine real estate market you can invest in.

But buying ANY real estate is a significant undertaking – and there is a term we use in this industry called “doing due diligence”, which just means doing your homework before making a final commitment.

So, if you are contemplating buying waterfront property in Maine, click on http://waterfrontpropertiesofmaine.com/ to learn about these Ten Tips

Tuesday, March 7, 2017

Maine Chefs, Restaurants Nominated for Coveted James Beard Awards


Cara Stadler, chef/owner of Tao Yuan in Brunswick and Bao Bao Dumpling House in Portland, is once again a James Beard semifinalist in the Rising Star Chef of the Year category.
Cara Stadler, chef/owner of Tao Yuan in Brunswick and Bao Bao Dumpling House in Portland, is once again a James Beard semifinalist in the Rising Star Chef of the Year category. Staff photo by John Ewing
 
 
A dozen Maine chefs, restaurants, bakers and brewmasters have been named semifinalists forAmong the semifinalists are five Maine chefs nominated in the Best Chef: Northeast category. They are Brian Hill of Francine in Camden, who has now made the list eight times; Andrew Taylor and Mike Wiley of Eventide Oyster, who are semifinalists for a third time; Ravin Nakjaroen of Long Grain in Camden, who made the list twice before; and Keiko Suzuki of Suzuki’s Sushi Bar in Rockland, who was also nominated last year.
 
Cara Stadler, chef/owner of Tao Yuan in Brunswick and Bao Bao Dumpling House in Portland, is once again a semifinalist in the Rising Star Chef of the Year category, which covers chefs age 30 or younger who are “likely to make a significant impact on the industry for years to come.”
 
The James Beard Awards are the most coveted in the restaurant industry. Anyone can nominate someone to be a semifinalist in 21 categories; this year, the semifinalists were chosen from more than 24,000 entries. The list will now go to an independent volunteer panel of more than 600 judges across the country – including restaurant critics, food editors and past winners – who will narrow it down to five finalists in each category. Finalists will be announced March 15.
Maine restaurant industry professionals made a respectable showing this year. In addition to the Best Chef and Rising Star Chef awards, Drifters Wife in Portland is nominated in the Best New Restaurant category. Chase’s Daily in Belfast and Fore Street in Portland are perennial nominees in the Outstanding Restaurant category, which requires that a restaurant be at least 10 years old.
Ilma Lopez of Piccolo in Portland is an Outstanding Pastry Chef semifinalist, and Alison Pray, one of the founders of Standard Baking Co., is up for Outstanding Baker.
 
Wine, beer and spirit professionals from Maine made the semifinals as well. Portland Hunt & Alpine Club is nominated for Outstanding Bar Program, while Rob Tod of Allagash Brewing is once again up for Outstanding Wine, Beer or Spirits Professional.
 
After the finalists are announced in March, the judges will vote again to choose the winners. Winners will be announced May 1 at the James Beard Foundation Awards Gala at the Lyric Opera of Chicago
.
Last year, several Mainers were chosen as finalists, but none came home with the award.

by Meredith Goad, Portland Press Herald

Friday, September 23, 2016

Sales of single-family Maine homes rise a healthy 10.8 percent

The median sales price also rose in August, to $197,000, as low interest rates buoyed the housing market.

Read ArticlThe sale of single-family homes in Maine continued to increase both in the volume of transactions and in price last month.

The Maine Association of Realtors said sales of existing homes in August increased 10.78 percent over the same month last year, while the median sales price ticked up 5.35 percent to $197,000. A total of 1,840 Maine homes changed hands last month.

 “Maine’s real estate market, overall, is healthy due to continued buyer confidence and very low interest rates,” Ed Gardner, president of the Maine Association of Realtors, said in a release.

Nationally, single-family home sales rose only 0.6 percent, while in New England it was 6.1 percent. The national median sales price was $242,200, a 5.3 percent increase over August 2015, and in New England it rose 0.8 percent to $274,100.

“We are experiencing movement in all segments of the market, including seasonal properties and land parcels,” he said. “Real estate continues to be a great long-term financial investment – and quality of life investment. We expect markets to remain steady as households and investors take advantage of the tax incentives for real estate ownership through the end of the year.”

 

Friday, July 22, 2016

Home Sales and Prices Rise in June



Augusta (July 21, 2016)— Home values in Maine are rising at a healthy pace, according to statistics released by the Maine Association of Realtors. Realtors across the state of Maine reported 1,960 transactions of existing, single-family homes during the month of June, leading to a sales increase of 9.62 percent in the past year. Sales prices for those homes rose 5.49 percent to a median sales price of $198,000. The MSP indicates that half of the homes were sold for more and half sold for less.

The National Association of Realtors (NAR) today announced a 3.1 increase in sales nationwide in June; the national MSP of $249,800 represents a 5.0 price jump over the past 12 months. Regionally, the Northeast experienced a 5.6 increase in sales and a 1.4 percent rise in prices, to equal a regional MSP of $284,800.

Ed Gardner, 2016 President of the Maine Association of Realtors, says, “As the data shows, real estate sales and values continue to be strong, and conversations with Realtors across Maine indicate continued confidence in the marketplace. New construction, including spec homes, are more prevalent than we’ve experienced in recent years. The ‘days on market’ for sold properties has been declining during 2016, indicating qualified buyers are making their moves.”

Gardner added, “A recent report released by the U.S. Commerce Department stated that the value of owning a home in the U.S. has never been greater, due to continued low mortgage interest rates and prices that have recovered and grown since the recession. Contact your local Realtor for guidance to determine if owning a home, with its federal and state tax deductions, is financially feasible for your household.”

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 2015 and 2016.
 

Maine Real Estate Statistics – June 2016 Housing Report—7/21/16 JUNE ONLY CHART
June 1-30, 2015 – June 1-30, 2016
NUMBER OF UNITS
MEDIAN SALES PRICE
2015
2016
%Change
2015
2016
%Change
STATEWIDE
1788
1960
9.62%
$187,700
$198,000
5.49%
ROLLING QUARTER CHART
From April 1, 2015 – June 30, 2015 and
April 1, 2016 – June 30, 2016
NUMBER OF UNITS
MEDIAN SALES PRICE
County
2015
2016
%Change
2015
2016
%Change
STATEWIDE
4155
4917
18.34%
$184,000
$190,000
3.26%
Androscoggin
264
312
18.18%
$137,250
$149,000
8.56%
Aroostook
125
150
20.00%
$90,000
$84,750
-5.83%
Cumberland
1159
1266
9.23%
$249,000
$267,700
7.51%
Franklin
72
112
55.56%
$136,250
$125,000
-8.26%
Hancock
164
220
34.15%
$199,000
$187,500
-5.78%
Kennebec
355
425
19.72%
$139,000
$140,000
0.72%
Knox
138
147
6.52%
$184,500
$225,000
21.95%
Lincoln
104
157
50.96%
$167,000
$200,000
19.76%
Oxford
175
214
22.29%
$138,000
$148,000
7.25%
Penobscot
365
495
35.62%
$133,000
$135,000
1.50%
Piscataquis
66
83
25.76%
$94,500
$81,450
-13.81%
Sagadahoc
114
148
29.82%
$179,000
$192,450
7.51%
Somerset
111
146
31.53%
$84,000
$87,250
3.87%
Waldo
113
129
14.16%
$150,000
$162,000
8.00%
Washington
51
63
23.53%
$99,000
$85,000
-14.14%
York
779
850
9.11%
$231,500
$235,900
1.90%