Mainebiz

V O L . X X V I I I N O. X X I I O C T O B E R 3 , 2 0 2 2 6 U.S. Sens. Susan Collins and Angus King and U.S. Reps. Chellie Pingree and Jared Golden announced that the U.S. Department of Agriculture will invest $35 million into Wolfe's Neck Farm's initiative to promote climate- smart agriculture and $30 million into the New England Forestry Foundation's New England Climate-Smart Forest Partnership Project. Gov. Janet Mills announced that $14 mil- lion in grant funding is available for Maine forestry companies from the second round of the Forest Recovery Initiative of the Maine Jobs & Recovery Plan. Fidium said its multi-gigabit, all fiber ser- vice is now available to 41,000 addition- al homes in eastern Maine, increasing fiber connectivity in the state by 50%. The Maine Department of Health and Human Services said it issued $11 mil- lion to providers of home and commu- nity-based services in September in the latest round of support to help Maine people living with disabilities remain in their communities. The funding, provided through two complementary payments under the federal American Rescue Plan Act, is part of the department's HCBS Improvement Plan to increase access to high-quality services. Maine's breweries are busy with plans: Sea Dog Brewing Co. plans to open a new location at 1 Cabela Boulevard in Scarborough. Allagash Brewing Co. B U S I N E S S M A I N E Business news from around the state Honesty, integrity and mutual respect are the values that guide us. Stephen Dumont, VP CONTACT (207) 490-5900 www.tpdconstruction.com CO N S T RU C T I O N M A N A G EM EN T s D E S I G N / B U I L D s G EN ER A L CO N T R A C T I N G South Portland, ME N O T E W O R T H Y S T A T E W I D E S T A T E W I D E N O T E W O R T H Y S O U T H E R N S O U T H E R N B R I E F Home sales cool off, though prices remain at historic levels B y P e t e r V a n A l l e n $350K $300K $250K $200K $150K $100K $50K $0 35K 30K 25K 20K 15K 10K 5K 0 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 Median price Yearly sales S O U R C E : Maine Association of Realtors MEDIAN PRICE AND YEARLY SALES OF SINGLE FAMILY HOMES IN MAINE S ales of single-family existing homes across Maine in August dipped 9.89% compared to August 2021, accord- ing to Maine Listings. Home values remained at historic highs. The median home price was $340,000 in August, an increase of 9.68% from August 2021. But the value dropped from July, when it was $354,000, and the peak in June, when the median home price was $360,825. In August, 1,859 homes were sold in Maine. The highest prices in Maine were in Cumberland County, whose median sale price was $503,500 in August, up 11.64%, followed by York County, where the MSP was $460,000, a 15% increase. Aroostook was the most affordable county, with a median price of $149,700, which was nonetheless an increase of 15.15%. The MSP indicates that half of the homes were sold for more and half sold for less. "Demand for single family homes in Maine remains strong, with more than 1,850 sold during August," says Madeleine Hill, 2022 President of the Maine Association of Realtors and designated broker at Roxanne York Real Estate in Harpswell. She indicated that there's more inventory on the market. "While still historically low, active for-sale listings have been on an upward trajectory for the past six months, up almost 25% from July 2022 to August 2022," said Hill. "With additional for-sale inventory, we're seeing a leveling in some areas of Maine. Buyers are approaching these market trends in a more strategic fashion, with contract contingencies and seller concessions becoming more common." The National Association of Realtors reported that sales of single-family existing homes decreased 19.2% nationwide in August. Prices rose 7.6% to a national MSP of $396,300. Sales in the Northeast were down 13.7% and the regional MSP increased 1.5% to reach $413,200.

• Cover