As we enter February this coming week and say goodbye to the first month of 2023, we now have information to share with you, allowing us to compare 2021 to last year’s 2022 residential real estate numbers here in Maine.
According to the Maine Realtors Association, using the dates of 1/1 to 10/31 for each year, here are the numbers from 2022 compared to 2021: There was a 13.94% drop in the total number of residential transactions in 2022 vs 2021: 17,050 total transactions vs 19,811 in 2021. But when it comes to total dollar values for the two years, there was only a 5.22% decrease in 2022 as the dollar value of all residential transaction in 2021 was $7,284,431,042 compared to 2022’s $6,904,414,515, which is due to the increase in property values seen in 2022, in comparison to 2021.
Here in our great Maine lakes region, our agency here at Maine Real Estate Choice wants to help you with all of your real estate needs. Our realtors have experience that is unmatched in our area. We can and we will help you to purchase or to sell your property with integrity and dedicated attention to your needs.
Here are the interesting numbers as to how many residential transactions were single family homes, how many were condos, how many were land, and how many were mobile type homes in Maine, in 2022 vs 2021.
Single family home sales dropped 14.35% (16,873 in 2021 vs 14,452 in 2022), Condo sales dropped 21.24% to a total of 1,617 from 2021’s volume of 2,053. Land sales transactions dropped 25.35% with 5,042 in 2021 to last year’s volume of 3,764 land sales. An interesting marked increase in activity was in the mobile home category. Last year in 2022 we saw a 10.85% increase with 971 mobile home sales, compared to 885 transactions in that category for 2021.
Give us a call today! Our entire team of experienced professionals appreciates the opportunity to help you with any and all of your real estate needs. You’ll be glad that you gave us a call!(207) 693- 5200