The chief economist at Moody’s Analytics included the state among nearly 2 dozen considered ‘in or at high risk’ of a recession, but the Maine state economist is pushing back and says employment is steady.
Home Prices
Posted inBusiness, Maine, News
Maine’s real estate market bucked trend of Northeast decline
More and more homes are hitting the market in Maine, but inventory still remains well below what experts consider a balanced level.
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Posted inBusiness, Maine, News
Maine home prices set a new record in May
Maine homebuyers paid a median of $425,000 in May, just two months after the state recorded the first price decrease in 6 years.
Posted inBusiness, Maine, News
More and more Maine homes are selling for millions of dollars
Maine’s luxury real estate market had a record year in 2024, while the number of properties sold for more than $1 million has quadrupled over the last 5 years.
Posted inBusiness, Maine
Maine home prices hit a new high in 2024. Don’t expect them to come down.
The median price for a Maine home reached a record $390,200 in 2024, but the year also saw sales increasing after years of declines.
Posted inBusiness, News
3 Maine counties now have median home price over $500,000
The state’s ongoing inventory shortage, coupled with the high demand for single-family homes, has led to a record-breaking year for home prices in Maine.
Posted inBusiness, News
Price of typical Maine home hovering around $400,000, but more are hitting the market
The median home sale price in Maine last month was $399,250 – a 5% increase over July 2023, but a slight dip from the record high of $406,000 reported this June.