Market Conditions for Kennebunkport, Maine

By
Real Estate Agent with Ogunquit Sunrise Properties

Market Conditions for Kennebunkport, Maine

Reported by Bruce Edgerly, REALTOR

Updated October 23, 2007.

Current Market Rating: 1



1
2345
Buyer's

Seller's

Current Price Trend: 2




1
2345
Falling

Rising

Though the market has gotten weaker in some areas...properties closest to the ocean are still moving...Summer of 2007 even exceeded that of 2006...Buyers are still looking and know that this is the time to be buying before the market bounces back to the sellers court. It is now fall 2007 and calls are still coming in which leads me to believe that 2008 should be even better.

Though the market has dropped drastically in other states, Maine is holding its own and sales have increased since 2006. This is a very good sign for Southern Maine Real Estate. It appears that buyers are trying to lock in to their second homes or investment properties while the market is still in their favor.

ZIP Code: 04046

Location Characteristics: Kennebunkport is a town in York County, incorporated on July 5, 1653 as the town of Cape Porpoise. After the early white settlers were driven away by Indian raids, the community was reorganized under the name Arundel in 1718 in honor of the Earl of Arundel. In 1821 its name was changed to Kennebunk Port.

Nearly a century later, on April 1st, 1915, a new town was created from Kennebunk Port to be known as North Kennebunkport. Its name was changed in 1957 to Arundel. Thus, the new Arundel occupies a small portion of the town so named in 1719.

Cape Porpoise remains as a coastal village in the town, along with Goose Rocks Beach another seaside settlement.

In recent years Kennebunkport has become famous for visits by the two Presidents Bush - George H. W. (the father) and George W. (the son). The elder Bush has a summer residence in the community.

Beaches and rocky shore, fine art glass makers, numerous resorts and hotels, fine dining around every corner, sailing, sight-seeing, theatrics, historic districts? There are as many things to do and see here as there are degrees on a compass or seconds in a day in the bustling myriad that is Kennebunk and Kennebunkport. Get-away residence of George Bush and his family, center of entertainments ranging from extravagant to economical, Kennebunk and Kennebunkport may very well be the Cancun on Maine. Caution: visiting this wonderfully addictive community may prove hazardous to the serious side of your nature.

County: York ~ School Dist/Dept: MSAD 71 ~ Senate District: 4 ~ House District: 137 ~ Congressional District: 1 ~ Population: 3720 ~ Area: 36.0 sq miles Pop. Density: 180/sq mile ~ Longitude: W 70:34:24 Latitude: N 43:23:54

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