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You are currently viewing: Posts made in November, 2009

Portland Maine Real Estate Snapshot – November

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Currently in the Portland Maine real estate market there are 219 single family homes on the market offered at a median price of 299K and 214 condos for sale in Portland offered at median list price of 214K.  To date through 2009, a total of 561 residential units including both single family and condos have sold at a median price point 210K after sitting on the market for about 50 days.

The Portland Maine residential markets overall remain healthy as we enter the winter season.  If a property is priced right it will sell quickly, but overpriced inventory has and continues to clog the market place as well as continuing short sales and foreclosures.

Thanks for reading,
John
Maine Buyers Agent
Green Tree Realty


Brunswick Mid Coastal Real Estate Report

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The Brunswick Maine real estate markets continue to post strong figures as we enter the end of the Fall season. Despite the closign of the naval air station, volume has been strong througout the Summer and Fall season. For the most recent month ending October 31st, 23 transactions took place, up 15% from  last year.  The median price clocked in at 185K, still off a bit more than 10% from October 2008, but holding strong month over month, up 11% from September.  As we move forward and into the winter, I would expect this market to fair better than Bath, 10 minutes farther up the coast and away from Portland.  It seems the Brunswick housing market  has been and continues to be a bright spot in the mid coastal Maine real estate markets thankfully.


Housing Report on Cape Elizabeth – Oct 2009

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As the Fall leaves begin to disappear and snow has begun to flutter, the real estate markets of Cape Elizabeth posted very strong results for the month ending October 2009. 13 transactions transpired at a median sales price of 426K. An increase of over 200% compared with October 2008 when only 4 properties traded hands. The median sales price was flat compared to a year, better than Portland Maine that saw a 9% decrease year over year, but month over month median pricing was up 42% as larger more expensive properties sold, a good sign of things to come.

For more information on Cape Elizabeth housing please visit www.mymaineproperty.com or feel free to contact me directly at 207-650-5383 or via email at john@greentreemaine.com


New Maine Real Estate Smoke Detector Law

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As of November 1st  all Maine home buyers will be asked to sign at the closing a document certifying that smoke detectors are installed in the home they will be purchased. In addition, any new construction or substanstial renovations done to a home since September 12th, 2009, will be required to have Carbon Monoxide detectors installed in the home.   Here is a good video on it all from Linda Gifford, the Maine Association of Realtor’s legal counsel.