South Portland Maine Real Estate in 2008
0 commentsFollowing suit with the rest of the state of Maine, real estate in South Portland saw significantly decreased transaction levels for the year ending 2008. 265 residential properties traded hands at an average price of 226K compared with 2007 when 344
properties were sold at
an average price of 245K. This represents a volume drop of 23% and a pricing drop of 8%. South Portland’s median price in 2008 was 199K compared with 215K in 2007. The days on market inched upwards again adding 8 days to the 2007 figure of 73. In this graph one can see the continued upward trend in the days on market over the past few years.
Please reach out to me to learn more about this greater Portland Maine real estate market and to obtain greater housing analysis and charts on the area.
November 2008 Cumberland Maine Home Report
0 commentsFor the month ending November 30th 2008 the Cumberland Maine real estate markets saw 7 transactions transpire at an average price of 277K after sitting on the market for 159 days. in 2007 6 homes sold at an average price of 405K in November representing a transaction volume increase of 17% and a pricing decrease of 32%.
For more information on this southern Maine market please visit www.mymaineproperty.com or contact me directly at 207-650-5383 or via email at john@greentreemaine.com
Maine residential housing inventory levels dropping
0 commentsNot a huge surprise for this time of year, but nonetheless a good sign for the overall health of the Maine real estate markets. Inventory levels have fallen in most communities, Portland for example fell from close to 500 residential units to a current level around 400. Most coastal regions have seen declines by approximately the same 20-25%.
For a complete overview of the regions. Visit Southern Maine or Coastal Maine sections of www.mymaineproperty.com
Southern Maine November 2008 Housing Report
0 commentsIn November 2008 the southern mid coastal Maine real estate markets saw much of the same conditions that have persisted over the previous months with average sold prices continuing to be 10-15% off where they were a year prior, housing transaction volumes markedly lower and continued lengthening of the days on market for Cumberland and York whilst small sample sizes in Sagadahoc and Lincoln made it difficult to discern actual trends. However one bright spot revealed in the November 2008 housing data is that the average sold prices month over month have not statistically fallen since the end of the summer pointing to perhaps a leveling out in this market.
More info on southern maine communities.
Greater analysis on coastal Maine communities.
Thanks for reading
Southern & Coastal Maine November Housing Report
0 commentsFor the month of November 2008, here is a market snapshot of the Southern Maine real estate transaction volume, average sold prices and days on the market for most greater Portland and lower mid coastal Maine housing communities.
            Current       Avg     Avg
Inventory   # sold   Sold Price   DOM
Portland         425      51         249K             75
South Portland     148         14          203K          126
Cape Elizabeth       87          9       459K         101
Falmouth              162        11          432K       142
Cumberland           85          7      277K          159
Yarmouth              68      2           412K            138
Freeport         89          3       195K        99
Brunswick             167         8           263K           58
Bath                     120        5       112K         147
Coastal          150         7       375K          209
(Includes Harpswell,
Phippsburg, Georgetown
and Arrowsic)
As one can see southern maine real esatate transaction volumes for the area are low in all communities but for Portland. For a greater analysis, please visit www.mymaineproperty.com or for Portland Maine real esate visit www.portlandmainehome.com or simply contact me anytime at 207-650-5383
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