NEWSLETTER
Market update
VITALIUS RANKED #1 IN MAINE
Single Family
The 2nd and 3rd quarter of 2024 have felt very much like a transition back into something more "normal." Inventory is increasing, prices feel like they are flat or decreasing slightly, and we are seeing fewer buyers. In some cases, sellers are still getting their asking price or higher. However, more recently we are seeing price reductions or properties simply taken off the market, hoping that the spring might yield the hoped-for offers. The Presidential election has created a bit of paralysis in the market, making it hard for buyers to commit to big life-decisions. The Fed rate cuts have not yet translated into lower interest rates. We are hopeful for an uptick in buyer activity and enthusiasm when the dust settles. Keep an eye out for Brit's end-of-year report early in the New Year for a more in-depth review of the market conditions in Maine.
Q3 Median Sales Prices in Cumberland & York County
Multi-Family
QUARTERLY
We're proud to announce that we have been named #1 in Maine and #3 in New England in The Boston Globe’s list of New England‘s Top Real Estate Brokerages 2024 ranking - highlighting our exceptional performance and leadership in the Maine and New England real estate market. “This award is a testament to the expertise, professionalism and quality of the broker team we have at Vitalius. Our small but mighty agency works incredibly hard and I couldn’t be more proud to share this ranking with everyone here.” - Brit Vitalius
Condos
VOL. 104 Fall 2024
200 MASS. AVE | $1,000,000 SOLD! Massive 3-unit with 3+ beds / 2 baths in each unit in nearly 4,500 SF of living area. This building is in great condition and has a ton of income potential.
Vitalius Listings
3-UNIT
MAINE CALLING: RENTAL HOUSING CHALLENGES FACING MAINE Brit Vitalius, Principal of Vitalius Real Estate Group and President of the Rental Housing Alliance, was recently a panelist on Maine Calling as they continued their series “The Cost of Living: Maine’s Housing Shortage,” with a look at the challenges facing renters in Maine. Brit was joined by Victoria Morales, Executive Director of The Quality Housing Coalition and Mike Myatt, Executive Director of Bangor Housing. Brit shared his thoughts and observations on the contributing factors of the housing crisis facing Maine. Click here to learn more
IN THE NEWS
"Housing needs to be somewhere and we need to get used it being in our communities" - Brit Vitalius
SINGLE FAMILY
35 OSPREY LN | $1,200,000 UNDER CONTRACT! Located on a quiet, private drive, this charming Cape Cod-style home was professionally renovated by the current owner. The home is well-equipped with modern upgrades and utilities.
YARMOUTH
280 LINCOLN ST | $1,475,000 UNDER CONTRACT! Located in South Portland's Ligonia neighborhood, this is a unique turnkey 7-unit residential apartment building and a 5,582 SF flex building, currently with 7-commercial tenants.
PORTLAND
MIXED USE
kayla donoghue
JES WALLIMANN
chris sullivan
Brit Vitalius
306 Congress St, Portland ME 04101 | 207-541-3755 | www.vitalius.com
SOUTH PORTLAND
COMMERCIAL, MULTI-UNITS & RESIDENTIAL
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