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Dava Davin's eyebrows raised when she took a look at home listings in the Portland location on Thursday. There were only 9 single-family homes for sale in Portland and five in South Portland, the creator of Portside Real Estate Group told a realty conference. "And if you like Yarmouth, well, think what?" Full Article said.
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The average list prices of a house in Maine rose to almost $300,000 last year, a 21-year high, according to data launched by the Maine Association of Realtors on Thursday. The variety of houses sold statewide increased about 2 percent for the year compared to 2020, however in December sales dipped by 12.
This year is off to a rough start in terms of stock. Listings in southern Maine, which consists of Cumberland and York counties, were down more than 15 percent in early January. "It's going to get worse before it improves," Davin stated, including the tight market ought to relieve towards the middle to end of this year.
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Land sales were up 85 percent because 2019. Some 81 percent of condos cost over asking cost, while 76 percent of single-family houses did last year. The luxury home market used up unexpected statistics, with 760 homes throughout Maine offering for more than $1 million, triple the number in 2019.
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Davin expects prices to keep increasing this year, but they will be in the single digits at around 7 percent rather than the double-digit rates of the previous year. Rate of interest might rise to about 3. 7 percent and moisten sales. Out-of-state purchasers will continue to concern Maine, and there will be development in rural property, she anticipated.
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