Purchasers and sellers gain from home income, but shifting costs, insurance service fees and furnishings purchases contribute an added economic effects to organizations in the course of Maine.

The whole economic impression of a normal residence sale in the point out amounted to $134,500 in 2021, effectively previously mentioned the U.S. common of $113,200 but in the center of the pack among the New England states, in accordance to a report final week from the Countrywide Association of Realtors. That is up from approximately $95,000 right before the pandemic in 2019 and practically $114,000 in 2020.

The true estate market accounted for $14.8 billion or 19.5 percent of Maine’s gross point out solution final calendar year, generating it the major contributor to the state’s financial growth.