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Boothbay Harbor Maine Town Feature

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lighthouse in Boothbay Harbor METhe coastal Maine town of Boothbay Harbor is rich in history and culture. The traditional occupations of lobstering, fishing, and shipbuilding remain popular. Houses for sale in Boothbay Harbor Maine are priced at an average of 327K, with waterfront homes pricing at an average of 588K. Through the past year, homes in Boothbay Harbor have sold at an average of 250K.

Located on a peninsula between the Sheepscot river and Damariscotta river, Boothbay Harbor is known for hospitality, and tourism. The town has a significant summer population and many amenities for tourists enjoying the Boothbay Harbor Region.

If you would like to learn about current real estate listings in Boothbay Harbor ME, or in listings in neighboring towns, visit the Herrigel Group – experts in coastal and southern Maine real estate. Or contact John Herrigel by phone at 207-650-5383 or by email at johnherrigel@gmail.com


1st Quarter 2011 Greater Portland Housing Market Update

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Well.. despite the clouds, rain and snow.. Spring is doing its best to reach us here in Maine!  The first quarter of 2011 yielded little surprise as the region as a whole was down about 25% in transaction volume compared with the same time period a year prior whilst prices continue stabilize  with real estate in Portland Maine actually showing a statistical 8% increase in median pricing compared to 2010 as the median price clocked in at 222K compared with 206K last year.. however this is probably more the result of less first time home buyers in the market place than of actual price appreciation.  Alas the mid coastal area including homes in Bath and Brunswick continue to see slackened demand overall, but prices here are fairly stable as well.


Waterfront Real Estate in Maine Update

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As spring attempts to makes its way to the state of Maine.. here is a look at how the Maine waterfront real estate market is faring.  As of today from the border with New Hampshire up through the mid coastal housing region of Boothbay Harbor a total of  about 3039 total listings are for sale in the region closer to the coast and just over 600 of these listings are market in the Maine MLS system as being pure waterfront properties.  Of these 600.. the median asking price is $549,000..the average asking price is $825,000.. the highest price property is 6 Million and the lowest is $60,000.

Overall the waterfront market segment has continued to be slow as the 2nd home housing market has died down, but as prices in Maine continue to stabilize I personally have beenn showing more waterfront property as of late and the believe we shall see a stronger recovery in this market going forward.


2010 Year in Review for Greater Portland and Coastal Maine

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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.

Transaction Volume Median Prices
2010
2009
Change
2010
2009
Change
Portland Homes
399
413
-3%
219
218
0%
Portland Condos
238
206
16%
193
186
3%
South Portland
278
289
-4%
198
189
5%
Cape Elizabeth
134
114
18%
359
302
19%
Falmouth
170
175
-3%
399
376
6%
Westbrook
160
194
-18%
179
185
-3%
Yarmouth
100
88
14%
281
342
-18%
Scarborough
221
223
-1%
292
297
-2%
Freeport
85
86
-1%
288
249
16%
Brunswick
200
177
13%
198
206
-4%
Bath
87
104
-16%
142
128
12%
TOTALS
2045
2036
0%
243
236
3%

October 2010 Southern ME Housing Update

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Blogging from an ipad on a bus from Boston….

MacBraynes Bus - 1961 Restored Bedford Coach 603CYS - used by Northern Constabulary Pipe BandHaving recently published my October housing newsletter on the real estate markets of York, Cumberland, Sagadahoc and Lincoln  counties it was no surprise to find that volume continues to remain off about 20% in the southern ME real estate markets compared with a year prior.

Statistically speaking prices were up in September, but these increases are more the result of a less first time home buyers in the marketplace  than of actual price increases.  Overall I feel the regional marketplace continues to see price stabilization.

Thus far through October buyer traffic has been stronger and with interest rates pushing 4%, if one qualify for a loan..DO IT!!!… these rates will not last!

Some questions going forward will be…How will the foreclosure fiasco play out…What will rates do?…Will title companies insure foreclosed properties? Will the Economy start generating jobs!!


Slower Markets in Southern Maine

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The markets of Southern Maine seem to have cooled off a bit as of late… I guess to be expected since the frenzy and urgency of the first time home buyer tax credit is gone.  Buyers continue to look (and buy), but at a much more relaxed and comfortable pace although if a home is priced appropriately it will sell quickly and within a matter of days still!  The Portland ME real estate housing market continues to be the strongest segment in the region with over 80 residential transactions transpiring in May 2010, the most in 2 years, whilst homes for sale in the mid coastal regions are beginning to see better action, but buyers are still a bit hesitant to pull the trigger fully.

Thanks for reading and feel free to contact me at anytime for more in depth analysis.


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