Connect with us

Maine

Maine real estate trends: November sales, values up

Published

on




The Maine real estate market is beginning to see a shift to a more balanced market, according to the Maine Association of Realtors.

Maine Listings reported a 6.81 percent increase in sales of single-family existing homes during the month of November compared to November 2023. The median sales price (MSP) increased 8.45 percent to $385,000. The MSP indicates that half of the homes were sold for more and half sold for less.

“Prospective buyers are in a better situation than they were a year ago across many markets in Maine,” said  Paul McKee, President of the Maine Association of Realtors, in a Dec. 19 news release. “The number of homes for sale has increased, price appreciation is slowing, and the economic forecast is good.”

Advertisement

According to the National Association of Realtors, sales of single-family existing homes increased 7.4 percent nationally in November 2024 compared to November 2023, the release said. The national MSP reached $410,900 in November, a rise of 4.8 percent. Regionally, sales in the Northeast jumped 6.3 percent while the regional MSP increased 9.9 percent to $475,500 in November 2024 compared to November a year ago.

“We’re seeing promising signs that the real estate market is beginning to show signs of shifting slightly, with supply increasing and slower price appreciation.” adds McKee.

“The statewide sold statistics from January through November 2024 are 4.1 percent ahead of the same time period from a year ago. I’m optimistic that 2024 will end positively and buyer demand will continue to remain strong throughout 2025.”



Source link

Advertisement
Continue Reading
Advertisement
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Maine

Snowfall totals in Maine range from a dusting to 5 inches Tuesday morning

Published

on

Snowfall totals in Maine range from a dusting to 5 inches Tuesday morning


Kat Mitchell walks to work Tuesday in Auburn. “It’s very festive for Christmas,” Mitchell said about the snow falling on Christmas Eve. “Another day in Maine,” she said. Daryn Slover/Sun Journal

Parts of Maine were reporting a snowy Christmas on Tuesday.

As of 11:30 a.m., the National Weather Service said 6 inches of snow had fallen in Rangeley, 5 inches in Madrid, 1 inch in Freeport, 3 inches in Lewiston and as many as 8 inches in nearby Jackson, New Hampshire.

Portland received only a dusting of snow.

Advertisement

Jon Palmer, a meteorologist with the National Weather Service in Gray, said forecasters expected precipitation to slow down in inland areas through Tuesday morning but said snowfall would continue up and down the coast with 1-3 inches expected from Portland through the Midcoast.

Palmer said Christmas Day would be “a pretty nice day” in Maine.

He said the day would start off mostly clear with some clouds building in the middle of the day all around the state. Temperatures are expected to be in the low 30s.

The forecast is expected to stay until Sunday, when 1 to 2 inches of rain will likely fall around the state. Although, he said, there could still be snow in the White Mountains.



Source link

Advertisement
Continue Reading

Maine

Poland Spring helping Maine communities this winter season

Published

on

Poland Spring helping Maine communities this winter season


POLAND, Maine (WABI) – Poland Spring has donated tens of thousands of dollars for Mainers in need of heating assistance.

$40,000 will go to several communities across the state including Lincoln, Howland, Passadumkeag, and Enfield.

The Kingfield bottling facility and the Farmington Elks Lodge also donated 100 gifts in support of Franklin County’s Operation Santa Claus.

Poland Spring has raised more than $14 million for various statewide causes in the past two decades.

Advertisement



Source link

Continue Reading

Maine

Maine ban on PFAS-laden products moves forward

Published

on

Maine ban on PFAS-laden products moves forward


After a years-long delay, a state ban on some products containing harmful “forever products” may move forward.

The Maine Department of Environmental Protection recently proposed rules that would gradually outlaw the sale of consumer goods with intentionally added per- and polyfluoroalkyl substances, or PFAS.

The family of chemicals has been used in a wide array of industries for decades. But there are recent heightened concerns about the chemicals’ harm to human health and the environment.

Under the rules nine categories of products including cleaners, cosmetics, cookware, textiles and ski wax would be banned in 2026.

Advertisement

That prohibition would extend to most goods in 2032. Cooling, heating, air-conditioning and refrigeration equipment would be banned eight years later.

Kerri Farris, manager of the Maine Department of Environmental Protection’s Safer Chemicals Program, said companies should have plenty of time to find substitutions and average consumers likely won’t notice a change.

“We’re hopefully that the market has already started shifting to alternatives to PFAS and removing it from their products,” Farris said.

Maine passed a law that made producers report goods with PFAS and ban some items in 2021. But rulemaking to implement the law stalled as lawmakers amended its provisions.

The proposed rule is also in line with similar state bans including in Minnesota and California, Farris said.

Advertisement

“The Legislature has given us the directive to implement these sales prohibitions with the hope that we can remove these sources of PFAS,” Farris added.

Under the proposal, producers can get a five-year exemption to the rules if they can prove that PFAS is essential to their product and there is no alternative.

The suggested rules will be subject to a public hearing in January. The DEP hopes to enact a final rule next spring.

This article appears through a media partnership with Maine Public.



Source link

Advertisement
Continue Reading

Trending