Is Maine’s Real Estate Market On The Rebound?
Maine’s Real Estate market hasn’t taken the dive they’re seeing in some other states, but brokers say buyers and sellers will continue to see more ups and downs.
Tuesday, the Maine Association of Realtors reported home sales in July were up compared to last year. But brokers say that comes after a bad spring, when sales were way down.
Brokers say people are still buying houses, but sellers in particular have had to become more realistic in the prices they expect.
“I think it’s fair to say buyers are still standing on the sidelines, still waiting to see how the market will shake out. But it’s also very true in my market, and I’m sure true across the state,” said Real Estate broker Tobin Malone. “When something comes on the market, priced competitively based on today’s numbers, things are selling, in all price ranges.”
Brokers say most home prices haven’t dropped a whole lot, but prices are not going up like they were two years ago. The median selling price in Maine last month was reported to be $197,000.