Market News
Maine real estate sales, prices sink
(Bangordailynews.com) - Maine hasn’t escaped the bad news of the national real estate market, with existing, single-family home sales down statewide more than 22 percent between November 2007 and the same month this year.
In Penobscot County, the drop is even more dramatic: Realtors report selling 20 percent fewer single-family homes from Sept. 1 to Nov. 30 than during the same period of 2007, according to the Maine Association of Realtors.
“It’s slow in general. You’re seeing a lot of Realtors drop out of the business,” said Venise Bard of Town & Country Realtors in Bangor. “I don’t want to be negative, but you’re definitely seeing the sales and the prices drop.”
The median sales price also declined statewide from November 2007 to November 2008 — from $188,000 to $172,415.
The median sales price indicates that half the homes were sold for more and half sold for less.
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