Maine Waterfront Yearly Analysis
2009 January 28
As the economy and housing markets have taken a nose dive, how has the Maine waterfront real estate market fared….not well. Taking a larger hit than the markets as a whole, in 2008, for the greater Portland Maine housing market and lower mid coastal regions of the state 103 waterfront properties sold at an average price of just over 500K. This contrasts with an average sold price of 636K in 2007, a 15% drop in value. For the state of Maine as a whole prices dropped 7% on average in 2008. Transaction volume fell 30% for waterfront property compared to 20% for residential real estate in general.
