Portland, Southern & Coastal Maine Real Estate News and Housing Statistics - Portland ME Homes » Mid Coastal Real Estate Maine

Boothbay Harbor Maine Town Feature

jherrigel — Tue, 20 Dec 2011 22:16:30 +0000

The 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

jherrigel — Wed, 06 Apr 2011 20:44:39 +0000

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

jherrigel — Thu, 10 Mar 2011 12:04:19 +0000

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.Â As of today from the border with New Hampshire up through the mid coastal housing region of Boothbay Harbor a total ofÂ 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.Â 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

jherrigel — Fri, 21 Jan 2011 14:31:18 +0000

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.Â 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

jherrigel — Thu, 21 Oct 2010 23:20:19 +0000

Blogging from an ipad on a bus from Boston….

Having recently published my October housing newsletter on the real estate markets of York, Cumberland, Sagadahoc and LincolnÂ 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 marketplaceÂ than of actual price increases.Â 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

jherrigel — Fri, 11 Jun 2010 21:26:36 +0000

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.Â 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!Â 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.

Greater Portland Residential Market Report â€“ April

jherrigel — Thu, 13 May 2010 12:27:40 +0000

Despite the expiration of the housing tax credits, the real estate markets in Portland Maine continue to buzz along at a healthy clip.Â Many first time home buyers I have been working with were actually kind of relieved to have the pressure off of finding a place prior to April 30th.Â Interest rates continue to remain low and if we can avoid 1000 point stock market drops everything will be just fine in the greater Portland and southern ME real estate markets.

For the month ending April 30th the region as a whole was up about 40% or more in transaction volume compared to a year prior and relatively flat compared to March figures.Â Median pricing in Portland and South Portland was actually up 6% and 27% respectively year over year but the small sample sizes can be a bit misleading and overall pricing is stable to slightly increasing in the city whilst holding steady in the surrounding suburbs like Cape Elizabeth, Yarmouth and the real estate markets in Falmouth.

For more detailed overviews on the individual communities please visit my southern ME real estate or mid coastal Maine housing overview pages at www.mymaineproperty.com.

Thanks for reading,

John

Southern Maine 2009 Year in Review

jherrigel — Tue, 26 Jan 2010 15:13:49 +0000

For the 4 counties followed Cumberland and Sagadahoc posted the best results dropping only 6% and 8% respectively in median prices compared with 2008 figures.Â The southernmostÂ real estate markets of York county lost 14% of their value whilst mid coastal Lincoln county dropped a whopping 17%.Â Volume in all 4 counties held strong in 2009 posting similar transaction volumes to those seen in 2008 thanksÂ to a 2nd half surge resulting from the tax credit and low interest rates.

Despite these price drops home values did stabilize throughout the year. Inventories across the board are currently lower than where they were last year at this time and the median days on market average has dropped in all counties except for Sagadahoc.

Going forward I expect the first half of 2010 to be quite strong as rates remain low and buyers continue to take advantage of the housing tax credit that expires April 3oth.

The complete Maine real estate report can be viewedÂ at www.mymainepropety.com as well as individual reports on the greater Portland Maine residential markets and the Maine coastalÂ housing markets.

Mid Coastal and Southern ME Sept. Housing Report

jherrigel — Fri, 23 Oct 2009 18:01:00 +0000

The coastal and southern Maine regions including the counties of York, Cumberland, Sagadahoc and Lincoln saw more of the same for the month period ending in September 2009.Â Housing inventories continue to decrease as do the days on market for residential real estate!Â Median prices were down a bit more significantly year over year this September but on a 3 month rolling average, prices are off about 10%.Â The markets have for the most part been pretty stable since the start of the summer and since January 1, little pricing decrease has been seen and volume has been steadily increasing, both great signs for a continued improvement.Â The full Maine housing report can be seen here.
Thanks for reading,

John Herrigel
A southern and mid coastal Maine buyers agent.

Coastal and Southern Maine Home Report Jan 2009

jherrigel — Fri, 20 Feb 2009 22:09:28 +0000

Alas January did not post the numbers that anybody who wantsÂ real estate markets to appreciate would like to see.Â For the southern Maine real estate markets, specifically York and Cumberland county, transaction volume was down 12% and 41% respectively, with only about 100 residential home transactions occurring in Cumberland County, home to Portland Maine.Â Pricing continues to trend downward, but not at an alarming rate.

In Maine coastal real estate markets including Sagadahoc and Lincoln country transaction volume was down at even more alarming rates, 30% and 50% respectively!Â Given extremely small sample populations it is hard to discern true pricing patterns but it is safe to say prices are also trending downward.

The month of Janurary was cold, snowy and a tough one for Maine real estate.Â Keep an eye out for the Maine Association of Realtors figures that should be released soon.

Thanks for reading,

John