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Episode Summary

In this month’s market update, I take you through what I am seeing nationally, regionally, and here in Maine—and what these trends may mean for all of us as we head into 2026. Instead of charts and long economic analysis, I offer a clear, narrative look at the shifts underway: why buyers remain cautious despite relatively stable interest rates, why home prices continue to hold near record highs, and how inventory is finally showing signs of loosening.

I also dig into some of the most interesting demographic trends shaping today’s real estate landscape—including the rising average age of first-time homebuyers and the growing number of young adults living at home longer than ever before. These generational patterns influence who is entering the market, when they enter, and how they make decisions.

As always, Maine tells its own story. I break down which markets what is happening with inventory, price appreciation and recently enacted and proposed policy changes that could impact the market going forward. And, I share my perspective on how thoughtful buyers and sellers can position themselves strategically in the months ahead.

Key Insights & Market Themes

National Market Trends

• Buyers across the country remain hesitant, even though mortgage rates have settled in the low to mid 6% range. Confidence — is fluctuating and driving many decisions.
• The median U.S. home price is now around $415,000.
• Affordability remains the central challenge, especially for first-time buyers who continue to face elevated monthly payments.
• Homeowners have gained, on average, $140,000 in equity over the last five years, an important factor in seller's incentives and stability.

Who’s Buying Now

• The average first-time homebuyer is older than ever (40), a reflection of affordability pressures and delayed entry into the market.
• Roughly one third of young adults nationally are living at home—many waiting for stronger financial footing or more favorable mortgage rates.
• This creates pent-up demand, which I expect to begin re-entering the market as rates soften in 2026.

Regional & Maine Trends

• Maine remains what I often call the place where national trends come to take a breath. We feel shifts later, and differently, than many parts of the country.
• Statewide, inventory is finally improving, reaching levels we haven’t seen since 2020.
• Cumberland County
  • Homes sold increased by over 8% on a rolling quarterly basis.
  • Median sales price climbed to over $600,000—a healthy,

Connect with Elise

🌐 Website & Listings: Legacy Properties Sotheby’s International Realty
📸 Follow Elise on Social Media:

• Instagram: @elisekielyrealestate
• Facebook: Elise Kiely Real Estate
• LinkedIn: Elise Kiely

Have Questions or Topic Suggestions, e-mail Elise at

• Elise@EliseKiely.com
  
  

Subscribe, share with a friend, and join Elise every other week to discover what makes Maine not just beautiful—but beautifully lived.

Please remember this podcast is for entertainment and educational purposes only and does not create an attorney client or real estate advisor client relationship. Please reach out to me directly if I can assist you in your real estate journey.

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In the second half of my conversation with Nicola Manganello, founder and principal designer of Maine's Nicola’s Home, we move from her early creative evolution into the heart of her current work: sustaining inspiration, building and leading a high-performing team, and navigating the complex process of designing high-end homes that are meant to be lived in, loved, and gathered in.

Nicola shares how she keeps her creativity vibrant after more than 25 years in the field—through collaboration with her all-women team, through travel, through magazines, gardens, and the tactile inspiration of materials in her design barn. We talk about the balance required to run a growing business while maintaining a creative soul, and the clarity she has gained from restructuring her company to free time for what fuels her.

This episode also turns toward the personal: the role of gardening, cooking, and time in nature; the grounding she found while caring for her mother who was her first business partner and inspiration; and the importance of making space for life, not just work. Nicola reflects candidly on leadership, responsibility, and the internal resilience required to navigate a very public design career in Maine.

And then, we dive into her signature new project: the full restoration of an 1858 Greek Revival home at 37 South Street in Yarmouth—a two-year endeavor that required vision, persistence, and enormous craftsmanship. Nicola shares how she purchased the home sight-unseen while on safari in Africa, the challenges of working within a historic district, and why bringing this property back to life—rather than tearing it down—felt important both for the village and for her own creative journey.

This conversation reveals the depth behind Nicola’s design philosophy: that homes are not simply beautiful objects, but places that keep people together, strengthen families, and anchor lives.

Key Themes

• Creative longevity: how collaboration and continual learning sustain her design perspective
• Leadership and growth: building a team with complementary creative strengths and expanding her firm’s capacity
• Personal grounding: the influence of gardening, cooking, travel, and intentional routines
• The emotional side of building homes: the weight of responsibility, client relationships, and the courage it takes to lead
• Restoring an 1858 gem: the vision, obstacles, and triumphs of her Greek Revival renovation in Yarmouth
• Elegance in Maine: her belief that Maine’s natural beauty, simplicity, and authenticity define its elegance

Featured Project

37 South Street, Yarmo

Connect with Elise

🌐 Website & Listings: Legacy Properties Sotheby’s International Realty
📸 Follow Elise on Social Media:

• Instagram: @elisekielyrealestate
• Facebook: Elise Kiely Real Estate
• LinkedIn: Elise Kiely

Have Questions or Topic Suggestions, e-mail Elise at

• Elise@EliseKiely.com
  
  

Subscribe, share with a friend, and join Elise every other week to discover what makes Maine not just beautiful—but beautifully lived.

Please remember this podcast is for entertainment and educational purposes only and does not create an attorney client or real estate advisor client relationship. Please reach out to me directly if I can assist you in your real estate journey.

Send us a text

In the first half of my conversation with Nicola Manganello, founder and principal designer of Nicola’s Home in Yarmouth, Maine, we explore the remarkable path that took her from a small retail shop on Marina Road to one of Maine’s most respected full-service design-build firms.

Nicola reflects on her early years growing up in a deeply entrepreneurial family—her father built Olympia Sports—and how being raised around creativity, risk-taking, and constant reinvention shaped her own instincts as a designer and builder. She shares the story of opening her first shop in her 20s, living in half the building and running her business out of the other half, and how a single customer’s comment—“I can get something for me, something for my home, and something for my soul”—sparked an entirely new direction for her career.

What began as a small, warmly curated store evolved organically into interior design consulting, then into full renovations, and eventually into Nicola’s signature aesthetic: creating homes that feel timeless, gathered, and deeply lived-in. Her early projects, including whole-house renovations she lived in and sold, became her first marketing portfolio.

This episode also traces the bold leap that led to Maeve’s Way, her signature 12-acre neighborhood in Cumberland Foreside—conceived and built during 2008, one of the most challenging real estate markets in recent memory. From lifting and relocating an original farmhouse to investing in full landscaping and furnishings, Nicola describes the risks she took and the vision that guided her: building new homes that look and feel as though they have always been there.

Throughout the conversation, Nicola speaks with candor about the work ethic instilled by her parents, the emotional realities of building homes for families, and her belief that the right space can keep people together. Her philosophy is rooted in intention, comfort, and a desire to create gathering places where memories can take root.

💬 Key Themes

• Entrepreneurial roots: how growing up in a retail family shaped Nicola’s approach to design, business, and risk-taking
• From shop to studio: the unexpected moment that propelled her from retail into interior design
• Design as storytelling: creating spaces that feel familiar, warm, and “broken-in”—never precious, always welcoming
• The leap to Maeve’s Way: building a signature neighborhood during a recession, moving a historic home, and shaping a cohesive aesthetic
• Spaces that gather and hold: why Nicola believes thoughtful design can keep families connected across generations
• Craft, comfort, and memory:

Connect with Elise

🌐 Website & Listings: Legacy Properties Sotheby’s International Realty
📸 Follow Elise on Social Media:

• Instagram: @elisekielyrealestate
• Facebook: Elise Kiely Real Estate
• LinkedIn: Elise Kiely

Have Questions or Topic Suggestions, e-mail Elise at

• Elise@EliseKiely.com
  
  

Subscribe, share with a friend, and join Elise every other week to discover what makes Maine not just beautiful—but beautifully lived.

Please remember this podcast is for entertainment and educational purposes only and does not create an attorney client or real estate advisor client relationship. Please reach out to me directly if I can assist you in your real estate journey.