$8.25 MILLION
Sale value of “Floating Boulder” in Orland, pictured above. Represented by Elizabeth Banwell of Legacy Properties, Sotheby’s Worldwide Realty, this is likely one of the largest closings of the 12 months and the eighth highest residential sale in state historical past. Set on 483 acres round Craig Pond, the 5,867 SF residence and visitor cottage was customized constructed and landscaped over 15 years by an Irving Oil govt. See extra footage and skim extra concerning the property on the Legacy Properties weblog.
15,743
Maine houses bought by way of Nov. 30, based on the Maine Affiliation of Realtors. That’s nearly 16% decrease than gross sales by way of this time in 2021, which is consultant of a nationwide pattern—the Nationwide Affiliation of Realtors says that whole residence gross sales have declined for 10 months straight.
$325,000
Median sale value of a Maine residence in November, up 8.3 p.c from final 12 months. The nationwide median was $370,700, up 3.5 p.c from final 12 months. Source: Claritas by way of Maine Affiliation of Realtors, Nationwide Affiliation of Realtors
$236,223
Residence value reasonably priced to Maine’s median earnings in 2021, which was $63,421. Based mostly on typical debt to earnings ratios, specialists advise {that a} family ought to use not more than 28% of their gross month-to-month earnings to cowl mortgage, taxes and insurance coverage Source: Maine State Housing Authority.
14.41%
Total sale value improve for a house in Maine since this time final 12 months. Worth will increase have leveled off from 2021, when the YoY was 22.47%. That is the 12th quickest improve within the nation, based on Federal Housing Finance Company information by way of Q3 2022. Florida (22.7%), South Carolina (18.41%), and Tennessee (17.92%) spherical out the highest three.
16.93%
Total sale value improve for a house in Portland-South Portland metro space since this time final 12 months. Source: Federal Housing Finance Company
36 YEARS OLD
Common age of a first-time residence purchaser within the U.S., which is an all-time excessive, based on the Nationwide Affiliation of Realtors.
6.42%
Nationwide common rate of interest for a 30-year fastened mortgage as of Dec. 29. That is greater than twice the typical charge this time final 12 months, as calculated by Freddie Mac. The Mortgage Bankers Affiliation reviews that the typical buy mortgage on Dec. 16 was $398,000.
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