2009 Coastal Housing Year in Review

As winter in Maine finally sets in and the phone has been a bit quiet with the “holiday hangover” effect I had a bit of time to compile some 2009 end of the year  housing statistics for the lower mid coastal real estate markets that I follow. For the region as a whole including the towns of Brunswick, Bath, Freeport and the peninsulas of Harpswell, Georgetown and Phippsburg a total of 454 residential transactions took place at a median price point of 228K compared with 447 at 250K in 2008.

Thus volume was relatively stable and prices were down about 9% year over year, not bad overall!  The median days on market for these sold homes and condo’s remained relatively unchanged as wel, but did  fluctuate greatly from town to town with Bath seeing almost a 50% reduction whilst Phippsburg/Georgetown seeing  20% increase.

The housing market of Brunswick Maine is the largest in the region, followed by Bath and Freeport.  These 3 communities saw healthier volume compared to the coastal waterfront regions of Harpswell and Phippsburg where the 2nd home market segment continues to remain sluggish .

You can view the complete coastal real estate estate report as well as an analysis of the southern real markets here.

Thanks for reading.