Connect with us

Maine

Maine home prices finally fell last month, but don’t celebrate yet

Published

on

Maine home prices finally fell last month, but don’t celebrate yet


After six years of relentless increases, Maine home sale prices finally decreased last month. It’s a welcome change of course after 72 straight months of year-over-year rises and real estate agents say there are signs of a more balanced market ahead. But others caution that one month of good news does not mean the crisis is over.

Maine home buyers paid a median of $376,260 in March, just shy of a 1% dip compared to the same time last year, according to data released Thursday by the Maine Association of Realtors. The median is the price at which half of the homes sold for more and half sold for less.

Home sale prices have been steadily decreasing each month since December’s median of $400,000. But the last year-over-year decrease was in March 2019, when prices fell 0.94% to $200,000.

Meanwhile, 848 houses changed hands last month — a more than 12% increase over the prior month but a roughly 6% drop from March 2024.

Advertisement

January, February and March are typically the state’s quietest months for home buying and selling.

But the busy spring market is ramping up, and according to Jeff Harris, president of the Maine Association of Realtors, it could finally spell good news for buyers.

“We’re seeing the inventory of homes for sale inch upward with nearly 14% more homes on the market in March 2025 compared to March of last year,” he said in a prepared statement.

The increased inventory also means that sales are slowing down, with the average Maine home staying on the market for 22 days, up from 15 days last March. Last year, during the warmer months, homes spent less than a week on the market.

“For many markets, the pace is becoming more reasonable for buyers,” said Harris, who is also a broker with Harris Real Estate in Farmington.

Advertisement

But it’s not a buyer’s market yet. Statewide, there is a 3.6-month supply of unsold inventory, Harris said in an interview. A balanced market is a six-month supply.

“There’s so many buyers out there looking for something more affordable,” he said.

NOT YET A TREND

Paul McKee, the Maine association’s immediate past president, said he’s glad to see prices decrease but cautioned against jumping to conclusions.

“We need things to slow down price-wise. That’s good,” he said. “But there’s always an anomaly somewhere. Until you get a couple of months of this, it’s still one snapshot. … I’m glad to see it but I wouldn’t call it a trend.”

In a month with fewer than 1,000 sales, it doesn’t take much to skew the numbers, he said. For example, there could have been an $8 million sale last year that didn’t happen this year, thus dropping the average.

Advertisement

Michael Sosnowski, co-owner of Maine Home Connection, stressed that while prices have been decreasing, there’s no sign of a market crash.

“It’s more of a stabilization,” he said. “There’s been this phenomenon of price increase fatigue. Where we were was unsustainable.”

While houses may be sitting on the market for longer, on average, competition is still hot, particularly for houses priced below $500,000 in southern Maine.

Sosnowski said a property listed for around $350,000 in Gray recently had about 30 offers.

“Under $500,000, there’s not much different than there was a year ago,” he said. “There’s just not enough properties that are affordable.”

Advertisement

PRICES UP NATIONALLY, REGIONALLY

Maine’s slight price drop bucked national and regional trends.

Nationally, prices increased about 3% to a median sale price of $408,000, according to the National Association of Realtors. Sales, however, fell just over 2%

Regionally, sales were flat in the Northeast, but prices jumped more than 7% to a median of $468,000.

Lawrence Yun, chief economist for the national association, said March’s sluggish sales were a reflection of high mortgage rates and ongoing affordability challenges.

Interest rates have hovered around 7% for the last year or so. Thursday, the average rate for a 30-year loan was 6.81%, according to mortgage buyer Freddie Mac.

Advertisement

“Residential housing mobility, currently at historical lows, signals the troublesome possibility of less economic mobility for society,” Yun said.

SALES, PRICES A MIXED BAG

The Maine Association of Realtors also looks at three months of data in county-by-county comparisons to get a larger sample size of sale transactions.

The median price increased just over 5% to $382,353 between Jan. 1 and March 31 compared to the same three-month span the year before.

Cumberland County held its spot as Maine’s most expensive county with a median sale price of $550,000. York County was the second-most expensive, with a median sale price of $495,000. Cumberland County saw prices increase by about 3% from the year before, but similar to the statewide trend, York recorded its first decrease — 0.80% — since the three-month span between January and March 2019.

Aroostook County remained the state’s most affordable county, with a median sale price of $143,550. Washington County, with a median of $199,900, was the only other county with a sale price below $200,000.

Advertisement

Prices increased the most in Hancock County, which saw a 15.6% increase, while they had the steepest drop — about 14% — in Piscataquis County.

Sales were flat in Washington County, but they increased a whopping 81.6% in Waldo County, with 49 sales between January and March last year and 89 over the same period this year.

Androscoggin’s 21% drop in sales was the sharpest in the state.



Source link

Advertisement

Maine

Maine man accused of lighting bed on fire after fight with girlfriend

Published

on

Maine man accused of lighting bed on fire after fight with girlfriend


WISCASSET, Maine (WMTW) – A Maine man has been arrested after police say he intentionally set a bed on fire after a dispute with his girlfriend, while they were still in it.

Police responded Monday, March 9, to a report of a fire that had been intentionally set inside a home on Beechnut Hill Road, according to the Wiscasset Police Department.

Investigators say the homeowner, Terry Couture, 41, set the bed on fire following an argument while both he and his girlfriend were in it. Authorities said the fire was extinguished and no serious injuries were reported.

Couture was arrested and charged with attempted murder, arson, aggravated criminal mischief, and domestic violence criminal threatening with a dangerous weapon.

Advertisement

The investigation is ongoing.



Source link

Continue Reading

Maine

Celebrate Maine Maple Weekend at Williams Family Farm

Published

on

Celebrate Maine Maple Weekend at Williams Family Farm


CLIFTON, Maine (WABI) – Maine Maple Sunday is less than two weeks away, and the Williams Family Farm in Clifton is gearing up for one of the sweetest seasons yet.

A long stretch of frost and snow meant a late start this year, but the first boil of sap has finally run through the evaporator, and maple season is officially underway.

At Williams Family Farm, everything is done by hand:

  • Fresh maple syrup, bottled on-site
  • Maple sugar, carefully extracted in small batches
  • Baked candied pecans, cashews, and more

The Williams family has spent years working with whatever weather sends their way.

Long winters, surprise warmups, and everything in between—they’ve learned how to adapt so community members can enjoy their products.

Advertisement

As co-owner John Williams explains, the key is in the temperature.

“You need to have it warm during the day and still freezing at night, so typically that’s the middle of February,” said Williams. “We have a lot of trees, so we have to start tapping them before the conditions are ideal, so we start tapping way before it’s time for it to run just so we can get them all tapped. If you have ten trees in your backyard, you want to wait until roughly now, the middle of February to now, and when it’s actually running and put them in then because you can put all your taps in, in one day.”

They’re excited to welcome the community during Maine Maple Weekend on March 21 and 22.

They will be boiling up sap, hosting demonstrations, and providing free samples.

Locals can also join them for their third annual pancake breakfast where all proceeds are donated to Holbrook Recreation.

Advertisement

Follow the link to find out their hours for March and more.



Source link

Continue Reading

Maine

AI comes with dangers and opportunities. How is Maine responding?

Published

on

AI comes with dangers and opportunities. How is Maine responding?


People watch from the gallery during a 2026 House of Representatives session at the Maine State House in Augusta. (Joe Phelan/Staff Photographer)

The ad begins with a woman standing in a department store who sort of looks like Gov. Janet Mills, but not quite.

“Introducing the Janet Mills collection, featuring a confusing choice that forces girls to compete against biological males,” the female narrator says over banal instrumental music as the video cuts to “Mills” holding a stopwatch by an outdoor track.

The Mills collection comes “with a no-parent-permission-required estrogen kit,” the narrator continues, as the imposter holds a kit of syringes while patting a boy’s hair, which seems suspiciously stiff. The commercial ends with a real picture of the governor.

Advertisement

As far as ads generated by artificial intelligence go, the one from the National Republican Senatorial Committee is not very convincing. But the commercial serves as a reminder about how the emerging technology is being integrated into political campaigns and other areas of life in Maine.

If state Democratic leaders get their way, AI-generated ads like this won’t be allowed in Maine without a disclaimer.

As AI technology rapidly improves, state policymakers are weighing a variety of measures that could affect how Mainers interact with it. They are taking a two-pronged approach to protect people, especially children, from potential harms — while also preparing for the possible benefits.

Gov. Janet Mills acknowledges the Maine State Legislature as she begins her final State of the State Address in the House Chamber in Augusta on Jan. 27 (Daryn Slover/Staff Photographer)

The technology comes in the form of virtual personal assistants, internet search results and targeted advertising by businesses. It’s being used by governments for things ranging from traffic signals to budgets and policymaking to facial recognition to surveillance.

Mills said in a written statement that AI could help improve lives, drive economic growth and solve complex problems, but that it must be used in a “prudent, responsible, and ethical manner.”

“As AI becomes more prevalent in our society, its considerable promise must be balanced against harms — known and unforeseen — that can emerge from its widespread use,” she said. “It’s clear we’re only at the beginning of AI’s evolution.”

Advertisement

The governor has proposed $6.7 million in her supplemental budget to begin implementing some of the recommendations of a 21-member task force she created last year to study the issue.

Her proposal, which is being reviewed by lawmakers, would create a statewide AI literacy campaign; fund local and state partnerships to help municipalities use the technology and offer grants to support job training programs to keep Maine’s workforce competitive and productive in AI-enabled workplaces, among other things.

Lawmakers, meanwhile, are considering bills to address potential harms. In a rare bipartisan move, Republicans and Democrats voted unanimously last month in support of a bill (LD 524) making AI-generated child sex abuse material illegal. But that bill must receive about $55,000 before it can be sent to the governor.

They are also considering bills:

  • To require political ads in state and local elections to include a disclosure when AI-generated or altered material is used (LD 517).
  • To stop human-like chatbots or social AI companions from interacting with children (LD 2162).
  • And to regulate how the technology is used in mental health settings (LD 2082).

Last year, lawmakers passed a measure including AI-generated images in the state’s ban on so-called “revenge porn,” and one requiring companies to inform consumers when they’re interacting with an AI assistant. Mills signed both into law.

Other proposals regulating AI use in medical and dental insurance claims and in setting rents died in committees. So did one prohibiting the use of AI in “dynamic pricing,” in which businesses use the technology to offer different real-time prices to different consumers.

Advertisement

Over 1,000 measures focusing on artificial intelligence were debated in state capitols last year, the National Conference of State Legislatures said.

Some states, such as Colorado and California, are taking steps to enact a broad regulatory framework for AI. California has provisions preventing discrimination in the workplace and requiring watermarks on AI content and transparency around data used to produce reports.

But Maine lawmakers are seeking to address potential harms on a case-by-case basis — at least for now.

Rep. Amy Kuhn. D-Falmouth, is leading House Democratic efforts to regulate artificial intelligence. (Joe Phelan/Staff Photographer)

“I think of it as almost a whack-a-mole type of approach where we are developing legislation that very narrowly addresses specific harms of AI,” said Rep. Amy Kuhn, D-Falmouth, who is taking the lead for House Democrats.

“That sort of overarching regulatory framework just feels a little premature for Maine to me right now. I want to see that work its way through the states and let some other states take a swing before we get in there.”

Republicans, however, are worried about overregulation.

Advertisement
Rep. Jennifer Poirier, R-Skowhegan, supports protecting children from artificial intelligence caused by AI, but thinks adults need to use common sense. (Joe Phelan/Staff Photographer)

Rep. Jennifer Poirier, R-Skowhegan, said her caucus is focused on protecting children from potential harms associated with AI, but she worries that regulation will never keep up with AI’s evolution.

“You can’t always legislate your way out of everything,” Poirier said. “If you have a minor that has access to AI, and it can be used to harm them in any way, it’s our responsibility as adults to keep them safe. … But we are adults, and we need to use our own common sense.”

A recent poll from Pan Atlantic Research showed widespread concern about AI, with 66% of the 810 Mainers surveyed saying they’re mostly concerned about the potential problems of AI, while 25% were mostly optimistic.

More advanced programs can generate text, analyze reports and create increasingly lifelike images and videos. A recent AI video purporting to show Tom Cruise and Brad Pitt throwing down over the death of convicted sex offender Jeffrey Epstein raised alarm bells in Hollywood over its realism.

Other programs have been used by businesses in ways critics say can be exploitative. Consumer Reports recently published a story about how the online grocery shopping service Instacart used AI to charge certain customers higher prices — up to 23% more — if they were flagged as having higher incomes. Instacart reportedly stopped offering stores this option for “surveillance pricing” after the story was published in December.

A lobbying effort is underway to promote AI regulation in Maine. The “Protect What’s Human” campaign launched a website earlier this year, and a spokesperson said they have invested about $210,000 in ads supporting AI regulations. The commercials are targeting Republicans voters in the Bangor and Portland regions. The group is planning to spend another $110,000 on TV, streaming services, social media and podcasts.

Advertisement

Other proposals passed by the Legislature reflect lawmakers’ attempts to get ahead of the AI issue in indirect ways.

The House and Senate have each recently passed a strict data privacy law that would greatly restrict the amount of data — a person’s location, browsing and shopping histories and biometric information, for example— that companies can collect, store and sell. One of the main arguments was that such data can be used to train AI models. However, the chambers will have to iron out the differences between their two versions of the measure, LD 1822, if it is to become law.

And local residents are beginning to grapple with proposed data centers, which have been controversial in other parts of the county because they consume large amounts of water. This is especially true for centers powering AI.

Lawmakers are considering a bill, LD 307, to create a moratorium on such centers and establish a state council to study and review the impact of building them in Maine.

Construction is underway on a data center in Aroostook County, while another is being proposed in Sanford. Others have been proposed in Wiscasset and Lewiston, but did not move forward.

Advertisement

“This whole world is shifting to computer everything,” Poirier said, “and it’s important that we keep up with the times on that.”



Source link

Continue Reading

Trending