It is interesting that the median price of homes in Maine seems to continue to rise; yet, as you can see, the number of properties that are selling is down
slightly. In general, it feels as if things are slowing down, certainly to a much more normal pace than that which we had during the pandemic. Multiple offers still happen, but far less frequently.
On 8/21/25, Keith Griffith of Realtor.com reported:
“Near-zero growth in home prices suggests that roughly half the country is experiencing price reductions," says NAR Chief Economist Lawrence
Yun. "Wage growth is now comfortably outpacing home price growth, and buyers have more choices."
While national sales prices were up 0.2% in July, there was significant regional divergence. Home prices fell 4% annually in the West and dropped 0.6% in the South, while prices rose 3.9% in the Midwest and 0.8% in the Northeast.
Also, on 8/21/25, Aarthi Swaminathan of MarketWatch said: Homes are taking longer to sell, with more on the market than at any time since the pandemic. In July, 27.4% of homes saw price reductions—the highest for that month on record.
We asked AI to summarize the current US real estate market and came up with: Increased inventory, longer listing durations, and more price cuts indicate cooling trends. Not necessarily what we want to hear, but all in all, far from disastrous.
Ending on a positive note, on 8-21-25, Dave Gallagher of Real Estate News reported: In what could be promising signs for the fall market, existing home sales increased 2% in July and mortgage rates are holding steady at 10-month lows.
Although much of this sounds somewhat negative, the market is still moving upward, just more slowly. Pricing appropriately continues to be of critical importance. We would be happy to help you navigate this changing market. With our team approach, skills, and experience, we are poised to help you succeed. What’s more, we both live in York and specifically cover the Kittery, York, and Ogunquit areas, so we know the market here. We are happy to prepare a market analysis for you, whether you are thinking of selling soon or just curious about your home’s value for estate planning, future sale, or just general curiosity – always without any cost or obligation. If you are ready to sell, we would love to explain the many advantages that we at Legacy Properties Sotheby’s International Realty can provide and how that can make a significant difference to you. They include professional photography, drone photos, and wonderful virtual tours that are almost as good as seeing a home in person.
