Residential real estate was a hot topic in 2023! Despite the surge in mortgage rates, home prices continued to rise across Maine. This caused many potential home buyers to slow their searches compared to previous years as their budgets had to be adjusted due to increased interest rates aimed at curbing inflation.
At Portside, we are pleased and grateful that despite a declining year in real estate with the Maine market down 11% in volume, Portside’s volume actually increased over 2022. Our dedicated team of full-time, best-in-class agents not only surpassed the market but also marked our 11th year in business with our highest-ever sales volume!