2006 Year End Housing Statistics
0 commentsBuying activity continued to remain strong through the holiday months and into early 2007. After multiple months of sharp inventory decline perhaps an equilibrium in the short run has been found.  The ratio of new listings to sold listings was near 1 to 1 for December and price levels are seeing some volatility  month to month, but overall are very similar to where they were 1 year prior.  2007 will see healthy commercial and residential markets, a slower pace of new development and construction and a greater number of foreclosed properties on the market.
Inventories levels: A steady increase throughout the year, peaking in August/September, levels incrementally increased on a quarter by quarter analysis.
1st Qtr to 4th Qtr % Change in InventoriesÂ
York    Cum    Sag     LinÂ
26%Â Â Â Â Â 17%Â Â Â Â Â 14%Â Â Â Â Â 25%Â
Homes Sold: Following national trends, the pace of homes sold dropped supporting the rise in inventories above. Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â
         Â
Number Homes SoldÂ
                      York    Cum    Sag     LinÂ
2005Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â 3472Â Â Â Â 4445Â Â Â Â 447Â Â Â Â Â Â 497
2006Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â 2885Â Â Â Â 4020Â Â Â Â 443Â Â Â Â Â Â 425
% Change       -17%    -10%    -1%     -14%
Average Prices:Â Contrary to overall statewide and national statistics, coastal real estate prices continue to creep upward with moderate quarterly volatility due to seasonal buying and waterfront vs. non-waterfront property sales within a given quarter.
                  Average Price Sold (000′s)                       York    Cum    Sag     LincolnÂ
1st Qtr            273      291      216      237
2nd Qtr            280      294      231      290
3rd Qtr             285      317      222      266
4th Qtr            311      305      204      308
2006Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â 287Â Â Â Â Â 302Â Â Â Â Â Â 218Â Â Â Â Â Â 275
Visit www.mymaineproperty.com/maine-housing-statistics.html  for full data sets
Green Home Building and LEED Standards
0 commentsWinter has finally hit Maine and with it year round residents are reminded of how expensive this season can be.  As I hear my oil burner continually purrr in the background the thought of green homes and their beneficial tax treatment coupled with long term social and economic benefits has led me into a deeper investigation.
What is ”green home”? A green home uses less energy, water, and natural resources; creates less waste; and is healthier for the people living inside.
What is LEED?  Leadership in Energy and Environmental Design. Originaly a certificaton system for commercial buildings with 4 levels of acheivement; Certified, Silver, Gold or Platinum, since 2004 the system has been used for  residential homes. The qualifications and standards are stringent and the costs simply to be tested range from $500 – $3000, but the benefits, particulary for builders seem to perhaps outweight the extra expenses and hassels.
Currently Maine has 2 LEED certified homes, both in Freeport, but with a significant list of LEED registered builders in Maine as well as 6 projects in the works, this classification system is well worth a look.
 Find out more at the Maine Chapter of the US Green Building Council
Plum Creek and Passamaquoddy Bay
0 commentsThe continual struggle between development with conservation! Two prime examples in Maine include Plum Creek’s ongoing proposal to create 975 plus homes and 2 resorts on over 421,000 acres of land around Moosehead Lake and a movement to construct a LNG terminal on Passamaquoddy Bay.
 Perhaps one of the most controversial projects ever in Maine, Plum Creek, from Seattle,  released it will go back to the drawing board once again after feedback from the Maine Land Use Regulation Committee and other state agencies on their Northern Woods project.  Despite promising to place permenantly in to conservation over 400,000 acres of timberland, this ongoing struggle illustrates the difficulty in trying to economically revitalize a depressed area whilst preserving pristine wildlife. Read more here….
Just recently Yellow Wood Associatate of Vermont released part one of a two part economic report detailing the impact of a Liquid Natural Gas terminal in Passamaquoddy Bay. More details to be found here, but the basic synopsis was that the detrimental effects to land values coupled with safety/infrastructure costs would not be offset by the promised economic benefits. It is important to note however that this report was commission by Save Passamaquoddy Bay, an oppenent of the development.Â
Thus being an environmentalist or a real estate developer finding the right balance between conservation and economic growth is never as easy as it may seem.Â
Â
Greater Portland Real Estate Housing Inventories
0 commentsDoing some research the other day for some clients, I compiled these statistics to get a better sense of what a modest to high end, single family home in the suburbs just north and just south of Portland is currenty offere at and what they sold for in 2006 to help me compare and contrast the different property values for these Maine towns.  I also added links for each towns home page below as well. (DOM- Days on Market)
Southern Maine Real Estate Overview Â
Updated 1-16-07
Current Inventory over 350K – 1.2M
Â
Total area
Inventory:Â Â 320Â Â Â Â Â Â Â Â Â Avg. Asking Price:Â Â Â 545KÂ Â Â Â Â Â DOM:Â 132Â Â Â Â
Sold 2006:Â Â 43Â Â Â Â Â Â Â Â Â Â Â Avg. Price:Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â 525KÂ Â Â Â Â Â DOM: 88
Freeport - www.freeportmaine.com
Inventory:Â Â 32Â Â Â Â Â Â Â Â Â Â Â Â Â Â Avg. Asking Price:Â Â Â 582KÂ Â Â Â Â Â Â Â Â Â DOM:Â 129Â Â Â Â
Sold 2006:Â Â 43Â Â Â Â Â Â Â Â Â Â Â Â Â Â Avg. Price:Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â 511KÂ Â Â Â Â Â Â Â Â DOM:Â 120
North Yarmouth – www.northyarmouth.org
Inventory:Â Â 14Â Â Â Â Â Â Â Â Â Â Â Â Â Â Avg. Asking Price:Â Â Â 452KÂ Â Â Â Â Â Â Â Â Â DOM:Â 109
Sold 2006:Â Â 14Â Â Â Â Â Â Â Â Â Â Â Â Â Â Avg. Asking Price:Â Â Â 448KÂ Â Â Â Â Â Â Â Â DOM:Â 93
Yarmouth – www.yarmouth.me.us
Inventory: Â Â 15Â Â Â Â Â Â Â Â Â Â Â Â Â Â Avg. Asking Price:Â Â Â 583KÂ Â Â Â Â Â Â Â Â DOM:Â 107Â Â Â Â
Sold 2006:Â Â 38Â Â Â Â Â Â Â Â Â Â Â Â Â Â Avg. Price:Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â 507KÂ Â Â Â Â Â Â Â Â DOM:Â 85
Cumberland – www.cumberlandmaine.com
Inventory:Â Â 27Â Â Â Â Â Â Â Â Â Â Â Â Â Â Avg. Asking Price:Â Â Â 576KÂ Â Â Â Â Â Â Â Â DOM:Â 135
Sold 2006:  51              Avg. Price:                514K         DOM:  91 Falmouth – www.town.falmouth.me.us
Inventory:Â Â 53 Â Â Â Â Â Â Â Â Â Â Â Â Â Avg. Asking Price:Â Â Â 570KÂ Â Â Â Â Â Â Â Â DOM:Â 180
Sold 2006:  108            Avg. Price:                582K          DOM: 97Portland – www.ci.portland.me.us
Inventory:Â Â 32Â Â Â Â Â Â Â Â Â Â Â Â Â Â Avg. Asking Price:Â Â Â 498KÂ Â Â Â Â Â Â Â Â DOM:Â 155
Sold 2006:  86              Avg. Price:                465K         DOM: 78South Portland – www.southportland.org
Inventory:Â Â 17Â Â Â Â Â Â Â Â Â Â Â Â Â Â Avg. Asking Price:Â Â Â 528KÂ Â Â Â Â Â Â Â Â Â DOM: 127
Sold 2006:Â Â 35Â Â Â Â Â Â Â Â Â Â Â Â Â Â Avg. Price:Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â 477KÂ Â Â Â Â Â Â Â Â Â DOM: 126
Cape Elizabeth – www.capeelizabeth.com
Inventory:Â Â 42Â Â Â Â Â Â Â Â Â Â Â Â Â Â Avg. Asking Price:Â Â Â 623KÂ Â Â Â Â Â Â Â Â DOM: 101
Sold 2006: Â Â 61Â Â Â Â Â Â Â Â Â Â Â Â Â Â Avg. Price:Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â 599KÂ Â Â Â Â Â Â Â Â DOM:Â 78
Scarborough – www.scarborough.me.us
Inventory:Â Â 68Â Â Â Â Â Â Â Â Â Â Â Â Avg. Asking Price:Â Â Â 498KÂ Â Â Â Â Â Â Â Â Â Â Â DOM: 122
Sold 2006:Â Â 119Â Â Â Â Â Â Â Â Â Â Avg. Price:Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â 473KÂ Â Â Â Â Â Â Â Â Â Â Â DOM:Â 71
Â
Portland Named top World Destination
0 commentsRecently Portland was named one of the top 12 destinations worldwide, put in the same category as Zurich, Tokyo and the Caribbean’s Virgin Gorda. For a city of 66,000 people, having Frommer’s travel guide bestow this accolade will only further increase the desireabiltiy of the area and thus help keep the greater Portland real estate market moving forward.Â
 Other recent press includes portland being named one of the”Healthiest Cities for Women” (Self magazine); one of 20 “Hottest Cities for Entrepreneurs” (Inc.); and one of 50 “Best Places for Businesses and Careers” (Forbes).
Â
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