53 Shore Drive, Freeport. Open house on Sunday, Oct. 15 from 1 p.m. to 2:30 pm. Listed by Mary Conroy of Portside Real Estate Group.
Portside is excited to announce that it will be hosting Maine’s Open House Weekend on October 14 and 15. It is an open house extravaganza that will feature fresh new listings, showcasing some of the best properties available in the state. Follow this link to see all of our open houses.
34 Shady Run Lane, Cumberland. Open house on Saturday, Oct. 14 and Sunday, Oct. 15 from 11 a.m. to 1 p.m. Listed by Dave Sawyer of Portside Real Estate Group.
Despite the challenges of an inventory shortage in 2023, with 16% fewer new single-family homes coming on the market this year than in 2022, the market has seen an upswing in home prices. In the first eight months of the year, home prices have increased by 6%, marking the highest prices in Maine’s history. It’s been a seller’s paradise, with prices on the rise. But hold on, there’s good news for buyers too. Homes are now lingering a little longer on the market, giving you the luxury of time for those big decisions. Plus, the list-to-sale price ratio has toned down from 102.4% last year to 100.6% this year.
69 Vesper Street, Portland. Open house on Sunday, Oct. 15 from 1 p.m. to 3 p.m. Listed by Jaye Gorham of Portside Real Estate Group.
As we head into fall, we can expect a seasonal uptick in new inventory hitting the market as sellers look to capitalize on historically high home prices in Maine. This presents an opportunity for baby boomers to downsize their homes, creating more room for the younger generation. Millennials are expected to continue driving the housing market, with many reaching their peak home-buying years in the coming years. Typically, around one-third of all homebuyers are first-timers, with an average age range of 33 to 36. Often overlooked in the housing market are women, who make up a significant 17% of all buyers as single women homebuyers.
The real estate market is expected to remain strong, although fewer sales overall than in the pandemic years, The market is projected to experience single-digit price growth, which will help protect home values. This is great news for both buyers and sellers, as it indicates a stable and balanced market that can be navigated with confidence.
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