The southern Maine real estate residential markets once again posted solid results for the month ending May 2010.  The Portland market  continued to lead the way with 50% volume increases year over year and also month over month. The overall region was up about 25% year over year per the Maine association of Realtor’s statistical release.  The mid coastal region, specifically the real estate markets of Sagadahoc county sprang to life posting a 141% transaction volume increase year over year! Prices continued to stabilize throughout most of the region with minor month to month fluctuations.  Another encouraging sign of the improved conditions is that the days on market continue to decrease in most communities.

View all homes in southern ME for sale here or read the complete real estate report here.

Thanks for reading,

John

Green Tree Realty

The markets of Southern Maine seem to have cooled off a bit as of late… I guess to be expected since the frenzy and urgency of the first time home buyer tax credit is gone.  Buyers continue to look (and buy), but at a much more relaxed and comfortable pace although if a home is priced appropriately it will sell quickly and within a matter of days still!  The Portland ME real estate housing market continues to be the strongest segment in the region with over 80 residential transactions transpiring in May 2010, the most in 2 years, whilst homes for sale in the mid coastal regions are beginning to see better action, but buyers are still a bit hesitant to pull the trigger fully.

Thanks for reading and feel free to contact me at anytime for more in depth analysis.

Once again the southern Maine real estate markets posted extremely strong residential housing results for the month ending April 30th.  Housing volume for the more populated counties of  York and Cumberland was up 72% and 65% whilst the mid coastal  markets of Sagadahoc and Lincoln were up 36% and 44%.

Median pricing rose year over year in all 4 counties with York and Lincoln counties leading the way up  8% and 11% respectively.  Cumberland County, home to Portland, remained steady seeing a 2% rise in median pricing.  Additionally the  days on market average continued to drop throughout the region.

The general feeling in the market place is encouraging.  Homes are selling if priced right, many active buyers are looking and sellers have for the most part have accepted what their homes are worth and thus are listing at realistic prices.

Please feel free to read the entire southern ME housing report here.

Thanks for reading,
John

Despite the expiration of the housing tax credits, the real estate markets in Portland Maine continue to buzz along at a healthy clip.  Many first time home buyers I have been working with were actually kind of relieved to have the pressure off of finding a place prior to April 30th.  Interest rates continue to remain low and if we can avoid 1000 point stock market drops everything will be just fine in the greater Portland and southern ME real estate markets.

For the month ending April 30th the region as a whole was up about 40% or more in transaction volume compared to a year prior and relatively flat compared to March figures.  Median pricing in Portland and South Portland was actually up 6% and 27% respectively year over year but the small sample sizes can be a bit misleading and overall pricing is stable to slightly increasing in the city whilst holding steady in the surrounding suburbs like Cape Elizabeth, Yarmouth and the real estate markets in Falmouth.

For more detailed overviews on the individual communities please visit my southern ME real estate or mid coastal Maine housing overview pages at www.mymaineproperty.com.

Thanks for reading,

John

As the deadline for the housing tax credit looms communities here in Maine have benefited greatly thus far as the southern ME real estate market has been quite healthy and very active since about mid way through January.

The southern and lower mid coastal Maine region as a whole has seen stabilizing prices with the past 3 quarters median prices clocking in at 228K, 229K and 225K respectively.  Transaction volume has also been strong, up 29% in the 1st quarter 2010 compared with the 1st quarter 2009.

The entire Maine real estate report can be obtained here or by contacting me directly at john@greentreemaine.com

Going forward look for continued growth in transaction volume coupled with steady pricing, but  if rates continue to tick upwards this  market will see an end to its borderline euphoric state.
Thanks for reading,

John

For the month ending February 2010, the southern Maine real estate markets posted mixed results as most of the markets suffered from post-holiday hangover.  Some communities were up in prices, others were down.  Overall volume continues to be higher throughout the region.

As I write the markets are as hot as they have been in well over 3 years thanks largely to the first time home buyer tax credit as well as the continued low interest rates, under 5% in most cases!  As March, April and May housing statistics become available be sure to check back in as I suspect we are going to see some very encouraging results. Many homes in the greater Portland Maine housing market continue to see multiple offer situations, sold prices at or above asking prices and extremely healthy buyer interest.

As we enter the March spring season, (Note: March is Maine’s snowiest month! )  it seems the residential Portland Maine real estate markets have significantly heated up as attractively priced first time home buyer properties are selling in days with multiple offers at above asking prices!  What a change from a year prior!!  It is this authors belief that this mini-frenzy will continue to pick up momentum throughout the expiration of the housing tax credit on April 30th.

As of today there are approximately 380 homes and condo’s on the market in Portland with a median asking price of 249K.  To date in 2010 a total of 80 residential real estate transactions have transpired with a median sales price of 210K with the homes sitting on the market for a median of 60 days and selling at approximately 96% of their asking price.

Click here for a complete list of Portland Maine homes for sale.
Thanks for reading!

For the month ending January 2010 the York County residential Maine real estate markets saw 119 transactions transpire at a median sales price of 209K which represents an increase of about 13% year over year  when the median sold price in January for 185K.  Volume was also higher by 30% year over year.  Inventories clocked in about 100 higher in February compared to January.
For more information on southern ME real estate please visit www.mymaineproperty.com or feel free to contact me directly at 207-650-5383 or via email at john@greentreemaine.com

The southern Maine real estate markets posted continued solid results in the month of January.  I think most Realtor’s including myself  are a bit relieved after seeing a VERY slow holiday season and early January.  Lately things have picked up significantly with many active first time home buyers in the market as well as parties looking to relocate to the region.

Year over year transaction volume in January was way up in all 4 counties of York, Cumberland, Lincoln and Sagadahoc.. a trend that has been underway for quite some time.   Pricing continues to stabilize and in the city of Portland median home prices were surprisingly up 6% month over month in January.

Please visit my Maine real estate site for the complete report as well as housing statistics for the various communities in the region.

Thanks for visiting and reading!

How did the largest city in Maine fare in 2009.  It seems on average most municipalities  lost about 10% of their market value in 2009 compared with 2008.  Overall prices in the southern and mid coastal real estate markets have retraced to 2003/2004 values.  Portland Maine real estate appears to have fared a bit better than the average.  Combined single family and condo values were down approximately 5% whilst broken out single family homes lost only 3% to4% of their value and condo’s were closer to 10%.

Transaction volume was down slightly relative to 2008, but most of this drop came from less condo’s selling as single family transactions were flat to slight up.

Going forward it seems the stage is set for a buying and selling frenzy in the real estate markets of southern Maine with prices having stabilized, the deadline of the tax credit looming and continued low interest rates.