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

The greater Portland Maine real estate markets posted a very solid May and continue to trend upward with regard to transaction volume and median pricing.  South Portland residential real estate saw 31 transactions transpire at a median price of 189K, compared with 210K a year prior and 164K in April 2009.  The real estate in Falmouth Maine and also Cumberland saw 17 and 7 homes trade hands compared with 11 and 11 respectively from a month prior. Median pricing for these neighborhoods clocked in at 485K and 279K in May 2009.  Within the Cape Elizabeth residential home market, 9 homes sold in May compared with 16 a year prior. The median price was 245K.

Doing some analysis for a client the other day on the available stock of property in the 500-700K range in the greater Portland Maine real estate markets, specifically Cape Elizabeth, South Portland, Falmouth and the West End, here is what the numbers reveal for average sq footage, cost/sq. footage, taxes and days on market for these high end Southern Maine communities.

                                                                                   Averages 
                          Properties     Sq Footage     Cost/Sq. Foot       Taxes        Days on Market
South Portland         8                  2991               $202                   $5,362          107
West End                7                  3035               $242                   $7,024            85
Falmouth                49                 3100               $212                   $5,675           141
Cape Elizabeth        15                  2674              $239                   $6,315             61

Falmouth has a high number of new construction listings with 20 out of the 49 accounted for not having been built yet. The West End consists primarily of town homes in this price range whilst Cape Elizabeth and South Portland are a mix of older traditional homes coupled with newer contemporary construction.