Volatility in Southern Maine Real Estate

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After an encouraging August, September illustrates the volatility we have and will most likely continue to see in the markets for Southern Maine real estate.Â For the 4 counties followed transaction volume was off 18% from 2006 and off greater than 28% from 2005 levels. The Average prices of homes rose in both York and Lincoln counties, but fell by 5% in Cumberland and Sagadahoc. The days on Market fluctuated greatly throughout the 4 counties. For the complete reportÂ and housing statistics click here.

Portland Maine Single Family Appreciation

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Realizing it has been way to long since my last post and making the effort to post a bit more frequently, here is a direct comparison to the Portland Maine real estate condo posting in the previous entry to this one.Â Similar inventory levels are seen for both condos and SF homes, the appreciation to me is surprisingly a bit less for the homes vs. condos, but similar trend through the years are seen in both data set.
Currently in Portland there are 259 single family homes on the market with an average asking price of 378K.
The breakdown of price points is as follows:
Under 200KÂ Â Â 200-300KÂ Â Â 300-500KÂ Â Â 500K +
40Â Â Â Â Â Â Â Â Â Â 114Â Â Â Â Â Â Â Â Â Â Â Â Â Â 71Â Â Â Â Â Â Â 36

Here is a look at the number of properties sold, the average price and year upon year appreciation for Portland homes.Â Â The total appreciation has been 81% for the entire time period.
YearÂ Â Â # SoldÂ Â Â Avg PriceÂ Â Â Yearly Appreciation
2007Â Â Â Â 404Â Â Â Â Â Â Â 246KÂ Â Â Â Â Â Â Â Â Â Â 3%
2006Â Â Â 570Â Â Â Â Â Â Â 239KÂ Â Â Â Â Â Â Â Â Â -4%
2005Â Â Â Â 519Â Â Â Â Â 252KÂ Â Â Â Â Â Â Â Â Â Â 11%
2004Â Â Â Â 566Â Â Â Â 228KÂ Â Â Â Â Â Â 15%
2003Â Â Â Â 498Â Â Â Â Â 192KÂ Â Â Â Â Â Â 7%
2002Â Â Â Â 491Â Â Â Â Â Â Â 167KÂ Â Â Â Â Â Â 21%
2001Â Â Â Â 473Â Â Â Â Â Â Â 151KÂ Â Â Â Â Â Â 10%
2000Â Â Â Â 479Â Â Â Â Â 126K

Portland Maine Condo Appreciation

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Is there a difference between condo pricing and single family home pricing in the Portland Maine real estate markets. Below is an analysis on the current condo market in Portland and to follow will be a single family home analysis for comparison.

Currently in Portland there are 243 condo properties on the market with an average asking price of 294K.

The breakdown of price points is as follows:

Under 200KÂ Â Â 200-300KÂ Â Â 300-500KÂ Â Â 500K +
80Â Â Â Â Â Â 97Â Â Â Â Â Â Â Â 43Â Â Â Â Â Â Â 25

Here is a look at the number of properties sold, the average price and year upon year appreciation for Portland condos.Â The total appreciation has been 96% for the entire time period.
YearÂ Â Â # SoldÂ Â Â Avg PriceÂ Â Â Yearly Appreciation
2007Â Â Â Â 220Â Â Â 246KÂ Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â 3%
2006Â Â Â Â 312Â Â Â 239K Â Â Â Â Â Â Â Â -5%
2005Â Â Â Â Â Â 368Â Â Â 252KÂ Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â 11%
2004Â Â Â Â 296Â Â Â 228KÂ Â Â Â Â Â Â Â Â 19%
2003Â Â Â Â Â Â 250Â Â Â 192KÂ Â Â Â Â Â Â Â Â 15%
2002Â Â Â Â 220Â Â Â 167KÂ Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â 11%
2001Â Â Â Â Â Â 168Â Â Â 151KÂ Â Â Â Â Â Â Â Â 20%
2000Â Â Â Â 165Â Â Â 126K

Volatility in Southern Maine Real Estate

Portland Maine Single Family Appreciation

Portland Maine Condo Appreciation

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