Maine Real Estate

The Maine real-estate market in one of the steadiest going markets in the US. The closeness to the Acadia National Park and ever evident desire of people to own homes in this specific location is a driving factor for many real estate agents to continue working and competing for clients.

But the Maine real estate market was not as calm as always during this summer season. This period of time was usually acknowledged as a period for new buys, when people having extra money or a strong desire knew that Maine would always accept them and offer its beauty to their disposal. But the real estate market in Maine faced a 16% decline during the July period, 2007. Something over 1.300 houses were sold, having in mind that the number of houses sold in 2006, the same period, nearly 1.600 were traded.

This, however, did not have a negative outcome on the prices of houses and other estate, which in fact rose for 1,8% regarding the same period last year.

Maine can be described as one of the most pleasant places for raising a family. Every neighborhood is prepared to embrace new inhabitants, offering well equipped educational and medical facilities.
Never the less, real estate agents are well aware that Main is also known as Vacationland. This five season place as locals tend to call it has an enjoyable summer season with temperature rarely going over the 70’s so it is quite perfect for people with health issues. The average buyer is over forty, has over 120.000$ income and buy mostly for vacationing reasons. Other driving motives can be pure real estate investments including tax benefits, some see Maine as a future full residence, and many have a relative or a friend there, or just have money to spend. There are buyers interested in using the gained estate for future rentals.

Voted as one of the top ten places to live in the whole of the United States, the city Bangor, in the state of Maine, has a large influx of people coming from all over the country. The property markets in the city are full of positive activity and the condos markets seems to be on the rise. The average sale time for a condo in the city, is drastically reduced and the sales happen a little faster. The city seems to be one of the best places to invest in. The median price of a condo in Bangor is about $250,000, which is average and makes housing inexpensive, for what Bangor has to offer, in terms of cost and standard of living which is affordable and makes living in Bangor easy. Employment rates are on the rise and Bangor seems to have a stable economy that is climbing slowly. Bangor is also the second largest city in Maine.

Portland, Maine is the centre of the real estate market. Having a population of something over 64.000, and a wealth of natural resources, it offers the perfect place for recreation. This city is with a booming business activity, which does not threaten the calmness and the slow pace of life. It is a costal city with an appealing site from the Old port districts, characterized by many small local shops on one hand, and elite restaurants, shopping malls and business centers on the other.

The current real estate market rating is two (2) and the current price trend rating is 3. Compared to the other Maine locations, Portland represents a steady real estate market with a waste offer of multi units that stand firmly on the market. The market for family houses stays solid, the apartments and condos is currently showing a small decrease.

Never the less, Portland and Maine in general, with its natural resorts and the sense of tradition guarantee a never ending market for all the nature buffs and people who like the quiet American lifestyle.