Posted on July 11, 2007
Filed Under General Maine Real Estate, Portland Maine real estate, Maine housing statistics | Leave a Comment
As I sat around tonight wondering what I should research in the Southern Maine real estate world, acknowledging that I that I love numbers and that my niche seems to be in compiling housing statistics on I thought why not take some market snapshots for individual towns and then revisit a couple months later to get a great handle on the status of an individual market, so here we go with real estate in Portland Maine. As of today, 471 current residential properties are on the market in Portland, 253 SF and 218 Condos. The median ASKING price for a single family home clocks in at 387K vs 328K for a condominium. Despite the high average, the lions share of properties for both types fall between 200-300K, about 40% of the total inventory. As far as Days on Market, single family homes are moving much quicker, 85 days, versus 112 days for condos. Another interesting factoid I by accident stumbled across while messing up my average vs summation function in excel was the total dollar volume of asking prices. 98M and 71.5M respectively for SF and condos, thus with a couple hundred million, you could BUY Portland. View all the stats here
Posted on July 9, 2007
Filed Under General Maine Real Estate, Maine housing statistics | Leave a Comment
Here is an analysis of the month by month real estate transaction levels for Cumberland, York, Sagadahoc and Lincoln counties in Maine.
2007 Month by Month Transaction Levels
|
! |
2007 |
2006 |
! |
| Jan |
407 | 422 | 96% |
| Feb |
438 | 454 | 96% |
| March |
533 | 623 | 86% |
| April |
619 | 654 | 95% |
| May |
672 | 816 | 82% |
| ! | 2669 |
2969 |
90% |
After seeing such a significant drop this month, I thought best to view it relative to the rest of this year. An average drop of 10% for the first 5 months can be seen for all residential transactions in the 4 counties followed.
Posted on June 22, 2007
Filed Under General Maine Real Estate, Maine housing statistics | Leave a Comment
As inventory levels continue to escalate throughout the spring season an alarming reduction in transactions levels was seen for the month of May. Total sold transactions for the 4 counties followed in May 2007 was 672 versus 816 in May 2006, an 18% reduction. The Days on Market for all 4 counties jumped significantly, but average sold prices rose in 3 out of the 4 counties. My thoughts: Higher interest rates + market volatility = Uneasy feeling for the short and mid-term market outlook.
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Posted on June 6, 2007
Filed Under General Maine Real Estate, Maine housing statistics | Leave a Comment
Taking my statistics I run for the month and comparing them to the year 2004, I found these results. The level of transactions, not a surprise, were down in all 4 counties with Sagadahoc seeing the largest drop, 34%. York county had the smallest decrease down 10%. Price increases were the highest however in coastal Sagadahoc at 27% for the 3 year period and the smallest in Lincoln at a measly 2%, both Cumberland and York saw about 10% increases for the 3 year period.
Posted on April 25, 2007
Filed Under General Maine Real Estate, Maine housing statistics | Leave a Comment
A less than ideal report was released yesterday by the National Association of Realtors reporting a 8.4% nationwide drop in homes sold for the month of March over homes sold in March 2006. The median home price fell $600 from 217,600 to 217,000, a .3% drop. In Maine fo the same time period total home sales fell by 12.7%. The average sold price did increase by 2.51% from $189,000 to $193,750. For The largest decrease seen in 18 years a couple primary reasons for the decline would include the mortgage market turmoil as of late and poor weather.
Posted on March 27, 2007
Filed Under General Maine Real Estate, Maine housing statistics | Leave a Comment
Maine real estate single family home prices on average were up close to 5% in February2007 over 2006 according to MAR statistics compiled from the MREIS.
The statewide median existing home sales price reached $193,950 compared to $185,000 a year prior. A total of 698 homes changed hands during the month, down a slight 1.13 percent.
Whilst national home sale prices fell by more than 3% on average. The increase in prices can perhaps be attributed to the seasonal spring buying population as well as the ever increasing migration North by retirees and parties looking to escape the hustle and bustle of other parts of the state.
Whilst national home sale prices fell by more than 3% on average. The increase in prices can perhaps be attributed to the seasonal spring buying population as well as the ever increasing migration North by retirees and parties looking to escape the hustle and bustle of other parts of the state.
View specific Maine county housing statistics here
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