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The housing markets of the lower mid coastal region largely remained quiet throughout most of 2009 with significantly increased volume seen in the 2nd half of the year. The 6 towns within this report include the larger cities of Brunswick and Bath, the town of Freeport, and the coastal peninsula communities of Harpswell, Phippsburg and Georgetown/Arrowsic. The metrics analyzed include Transaction Volume, Median Prices and Median Days on Market.
 Transaction Volume
A total of 454 residential homes and condo’s sold in 2009 compared with 447 in 2008 with the 2nd half of the year almost twice as strong as the first. Bath saw the greatest increase jumping 46% year over year whilst Harpswell and Phippsburg saw declines of 21% and 16% respectively. The largest volume came from Brunswick with 177 real estate transactions taking place representing a 6% decrease from 2008.
 Housing Price’s
Overall the region saw a 9% decrease with a regional median sold price of 228K in 2009 compared with 250K in 2008. The larger towns of Bath and Brunswick’s both saw price decreases of 12%. Freeport saw the largest price drop at 23% whilst Harpswell eked out the only gain jumping 6%. The lowest priced community to buy a home in was Bath with a median sold price of 128K whilst Harpswell had the highest at 319K
Days on Market
The median days on market for the entire region was 112 compared with 116 a year prior. Bath saw a reduction of almost 50% in 2008 with the average home selling in 73 days compared with a whopping 143 in 2008. Brunswick and Phippsburg saw about 20% increases in the time on market whilst Freeport and Harpswell were flat.
Outlook 2010
The mid coastal region I follow can roughly be divided into the Brunswick/Bath year round market and the 2nd home waterfront market found on the coastal peninsulas. As prices have come down to realistic levels I believe there will be healthy activity in all market segments going forward. Many first time buyers will purchase in the first half of the year and assuming our economy continues to recover I believe we will see greater activity this Spring/Summer in the 2nd home waterfront market. Overall prices and volume levels will remain stable and unchanged in 2010.
For greater details please visit the Coastal Maine real estate section
“Based on information from the Maine Real Estate Information System, Inc. for the period (2008) through (2009). Provided by an individual user of MREIS. MREIS has not reviewed the contents and does
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