The harsh weather conditions of December and January led to somewhat disappointing housing results for the month ending January 2011 in the regional marketplace.  Housing volume relative to December 2010 was down as much as 30%, however, the year over year comparison showed that despite all the cold weather.. volume was up over January 2010 figures.  The strongest markets continue to be Portland Maine proper with home and condos sales in Portland leading the way.

Mid Coastal Maine is still struggling to see activity, yet my sense is that once we thaw.. there is going to some serious real estate action in Maine.  Many buyers are looking and are simply having a hard time finding something given the lower inventories around, but this should change as Maine sellers will begin relisting as early as March 1st I suspect.

To read the complete January 2011 Maine real estate housing report please click here.

Thanks for stopping by and thanks to the Maine Association of Realtors for their statistics.
John

For the year ending 2010 the real estate markets in greater Portland and mid coastal Maine posted solid and stabilizing housing results. Overall transaction volume was almost identical to that seen in 2009 whilst median pricing actually rose 3% on a statistical basis, although in reality it seems housing prices are not really increasing or deceasing.  Many signs point to a strong year ahead of us in 2011.. the economy is improving, inventories are low, rates remain stable and the general overall vibe is strong.

Below are detailed housing statistics on all the communities within the region.

Good day and seasons greetings from snowy and wintry Maine!

For the month ending November  2010  housing markets in Southern Maine including greater Portland and mid coastal regions posted similar results to what we have been seeing since the expiration of the tax credit.   Transaction volume was down  in all 4 counties  year over year whilst  month over month volume has continued to stabilize.  Median pricing throughout the region year over year was up  whilst month over month pricing remained quite stable and even began to show a few signs of  price appreciation dare I say!   With inventories very low and many buyers sensing a bottom…watch for improving conditions in the New Year.  Below are the raw results and read the full December real estate report here.

Once again we want to wish everybody a Merry Holiday Season and a thanks to the Maine Association or Realtors for helping supply these statistics

Despite the cold weather here in Maine.. it seems the real estate markets of greater Portland have sprung to life as of late. With interest rates continuing to creep upward and many economic indicators pointing towards bullish conditions Maine buyers have come back into the marketplace snatching up  properties at very attractive prices.

For the month ending November 2010 most regional housing markets saw improved transaction volume on both a month over month and year over year basis.  Ironically statistical median in Portland for November did drop of  sharply clocking in at 169K compared to 210K in October, but I believe this to be an anomaly and watch for this to rebound in future month’s.

The holiday season is always a slow time of year, but pent up demand and a lower overall supply of homes and condos for sale have set the stage for a very strong start to the new year.

For the month ending October 31st, 2010, the southern and greater Portland Maine real estate markets continued to see much of the same… decreased demand and transaction volume year over year whilst median prices  were once again deceivingly up on a statistical basis as I believe this continues to be attributed to less first time home buyers in the marketplace at lower price point.

Maine Housing Results for October 2010

Click here for the complete Maine real estate report.

Overall I feel there is a lot of pent up demand in the marketplace and if rates continue to creep up  I think we are going to see a significant pop in transaction volume which will further help to stabilize the regional marketplace.

Thanks for reading,

John

This blog for starters

I love to study the housing markets in Maine, but I often find it quite challenging to find quality, legitimate, useful information on how the markets are actually doing as everybody has a slant and bias!

The websites below I feel offer useful, informative housing information and commentary on Maine real esate.

• Maine Association of Realtors – they release monthly statistics on the entire state.
• Portland Maine Homes and Condos – A blog with housing statistics on the greater Portland residential housing markets
• Mid Coastal Maine Real Estate – Informative blog on real estate in Lower Mid Coastal Maine
• Maine Coast Properties Blog - Great resource with commentary on Mid Coastal Maine around Damariscotta
• Northern Maine Real Estate – Andrew Moore is a real estate agent in Northern Maine and one of the few if only bloggers in the area!

Stay tuned for my next posting to discuss the best place to find real estate listings in Maine on the internet!