One of the state’s top real estate agents sees slowdown in Maine’s hot market & More Latest News


The beginning of the end for Maine’s hot real estate market may have taken root not in Augusta or Portland but in Washington, D.C.

Last week, the Federal Reserve raised interest rates to the highest they have been in 40 years in an effort to fight inflation. Chair Jerome Powell said Wednesday that Americans should expect further hikes.

Referring to the situation so far during the pandemic as an “extreme sellers’ market,” Dava Davin, owner of Falmouth-based Portside Real Estate Group, one of the state’s biggest realty firms, said there are signs it is shifting due to the Fed’s move, high inflation, declines in the stock market and other factors.

“People’s buying power has changed, and it also is having them maybe pause a little bit,” Davin said. “That sense of urgency isn’t there.”

Here are the key themes in the market that Davin touched on during a chat with the Bangor Daily News.

A decline in offers

Davin said she sees homes continue to sell very quickly, but they are now going with fewer offers. While a home in Portland would have 20 offers a couple of months ago, she recently saw one that received just two. It still sold for $60,000 over its asking price.

“We’re seeing the signs of this slow shift,” she said.

Homes are still going fast. A single-family unit on Washington Avenue in Portland that sold for $510,000 this week was listed on Monday and sold by Tuesday to a physician’s assistant at Maine Medical Center. Redfin recorded 107 sales of single-family homes from Monday to Thursday in Maine as of Thursday afternoon. The median price was $345,000.

The most expensive was a $2.52 million four-bedroom home on Sprucehead Island in Thomaston sold 25 days after listing. The cheapest: a three-bedroom in Guilford for $50,000 after being on the market for more than 250 days.

Get Latest News Update

I have tried to give all kinds of news to all of you latest news today 2022 through this website and you are going to like all this news very much because all the news we always give in this news is always there. It is on trending topic and whatever the latest news was

it was always our effort to reach you that you keep getting the Electricity News, Degree News, Donate News, Bitcoin News, Trading News, Transfer News, Gaming News, Trending News, Digital Marketing, Telecom News, Beauty News, Banking News, Travel News, Health News, Claim News latest news and you always keep getting the information of news through us for free and also tell you people. Give that whatever information related to other types of news will be

made available to all of you so that you are always connected with the news, stay ahead in the matter and keep getting today news all types of news for free till today so that you can get the news by getting it. Always take two steps forward

Get More Live News

All this news that I have made and shared for you people, you will like it very much and in it we keep bringing topics for you people like every time so that you keep getting news information like trending topics and you It is our goal to be able to get

Also Read This News  TAL Education Group Provides Update on Status under Holding Foreign Companies Accountable Act & More Latest News

all kinds of news without going through us so that we can reach you the latest and best news for free so that you can move ahead further by getting the information of that news together with you. Later on, we will continue

to give information about more today world news update types of latest news through posts on our website so that you always keep moving forward in that news and whatever kind of information will be there, it will definitely be conveyed to you people.

Get More News Today

All this news that I have brought up to you or will be the most different and best news that you people are not going to get anywhere, along with the information Trending News, Breaking News, Health News, Science News, Sports News, Entertainment News, Technology News, Business News, World News of this news, you can get other types of news along with your country and city. You will be able to get information related to, as well as you will be able to get information about what is going on around you through us for free

so that you can make yourself a knowledgeable by getting complete information about your country and state and information about news. Whatever is being given through us, I have tried to bring it to you through other websites, which you may like

very much and if you like all this news, then definitely around you. Along with the people of India, keep sharing such news necessary to your loved ones, let all the news influence them and they can move forward two steps further.

Credit Goes To News Website – This Original Content Owner News Website . This Is Not My Content So If You Want To Read Original Content You Can Follow Below Links

Get Original Links Here🡽

Scroll to Top