The MEREDA Index

The story of real estate in Maine in 2024 was generally positive across all the sectors measured. There was slight downturn in the commercial real estate index, but this is the most volatile part of index, and the change might equally have been a slight upturn. Despite some increases and decreases, 2024 was a continuation of the upward trend in the index for
the past decade.

The story of real estate in Maine in 2023 was a meager supply increase but steady price increase. This was true of both the commercial and residential sectors.

The MEREDA Index declined by 0.8% between 2021 and 2022. The decline was driven by the residential Index, which fell 7.3% as interest rate increases began to seriously bite into real estate markets.

The MEREDA Index jumped by 10.8% in 2021 over 2020. The Index increased each quarter over the previous year’s same quarter throughout the year, with over 10% increases in the first and fourth quarters.

The annual average of the Index in 2020 grew by 2.8% over the annual average of 2019. The first half of the year saw a drop in the Index of 4% as the economy began the sharp decline related to the Covid-19 pandemic.

The annual average of the index in 2019 grew by 2.2% over the annual average of 2018. The residential real estate portion of the index grew by 5.3% over 2018. The annual average of the commercial index was largely unchanged.

The MEREDA Index was little changed in the last 6 months, declining by 0.2% since the first quarter of 2018 and by 0.3% over the twelve months since the third quarter of 2018.