Bangor real estate agent predicts high sales prices will remain in 2022

Published: Jan. 3, 2022 at 6:52 PM EST
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BANGOR, Maine (WABI) - A local realtor says Maine’s housing market is expected to remain competitive in 2022.

Kortnie Mullins with The Chez Renee Team says the number of homes sold statewide in 2021 was down about 3% from the previous year.

However, the median sale price of those homes was up nearly 13%. In Penobscot County, that increase was a whopping 21% from 2020 to 2021.

Mullins says there are very few homes on the market right now, and demand will prevent prices from dropping anytime soon. That means if you’ve been holding out on purchasing a home, you may want to reconsider.

“This is the new normal. This is what the market is,” Mullins said. “We don’t foresee it dipping down or anything in that sense. So, if you’re thinking about buying, really the first step is to go get pre-approved. Know how much you can afford and really align yourself with a real estate agent because these homes, when they do come on, they go off the market within 48 hours.”

While spring is typically thought of as the best time to sell a home, Mullins says winter has its benefits, too.

She says there are plenty of potential buyers out there, so if you’ve been thinking of listing your home -- don’t wait.

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