A recent analysis by the NAR Research Division states that the real estate industry accounted for $10.554 billion or 19.3% of Maine's Gross State Product in 2012. When a median priced home is sold in Maine, $17,289 in income is generated from real estate related industries (mortgage lending, real estate brokerage, title insurance, appraisal, etc.) and an average of $4,494 is spent on consumer items such as furniture, appliances, and home remodeling. NAR estimates an additional $10,456 spent on neighborhood commerce.
source: Maine Association of REALTORS
Inventory in Midcoast Maine is low, if you are considering putting your home on the market, give us a call for a confidential appointment to discuss preparing your home for the spring market. Our office is staffed with experienced Brokers with years of knowledge of the Midcoast real estate market. info@catesre.com or 207-701-5600