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 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!!

Once again the southern Maine real estate markets posted extremely strong residential housing results for the month ending April 30th.  Housing volume for the more populated counties of  York and Cumberland was up 72% and 65% whilst the mid coastal  markets of Sagadahoc and Lincoln were up 36% and 44%.

Median pricing rose year over year in all 4 counties with York and Lincoln counties leading the way up  8% and 11% respectively.  Cumberland County, home to Portland, remained steady seeing a 2% rise in median pricing.  Additionally the  days on market average continued to drop throughout the region.

The general feeling in the market place is encouraging.  Homes are selling if priced right, many active buyers are looking and sellers have for the most part have accepted what their homes are worth and thus are listing at realistic prices.

Please feel free to read the entire southern ME housing report here.

Thanks for reading,
John

Despite the expiration of the housing tax credits, the real estate markets in Portland Maine continue to buzz along at a healthy clip.  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.  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.  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

As the deadline for the housing tax credit looms communities here in Maine have benefited greatly thus far as the southern ME real estate market has been quite healthy and very active since about mid way through January.

The southern and lower mid coastal Maine region as a whole has seen stabilizing prices with the past 3 quarters median prices clocking in at 228K, 229K and 225K respectively.  Transaction volume has also been strong, up 29% in the 1st quarter 2010 compared with the 1st quarter 2009.

The entire Maine real estate report can be obtained here or by contacting me directly at john@greentreemaine.com

Going forward look for continued growth in transaction volume coupled with steady pricing, but  if rates continue to tick upwards this  market will see an end to its borderline euphoric state.
Thanks for reading,

John

For the month ending February 2010, the southern Maine real estate markets posted mixed results as most of the markets suffered from post-holiday hangover.  Some communities were up in prices, others were down.  Overall volume continues to be higher throughout the region.

As I write the markets are as hot as they have been in well over 3 years thanks largely to the first time home buyer tax credit as well as the continued low interest rates, under 5% in most cases!  As March, April and May housing statistics become available be sure to check back in as I suspect we are going to see some very encouraging results. Many homes in the greater Portland Maine housing market continue to see multiple offer situations, sold prices at or above asking prices and extremely healthy buyer interest.

For the month ending January 2010 the York County residential Maine real estate markets saw 119 transactions transpire at a median sales price of 209K which represents an increase of about 13% year over year  when the median sold price in January for 185K.  Volume was also higher by 30% year over year.  Inventories clocked in about 100 higher in February compared to January.
For more information on southern ME real estate please visit www.mymaineproperty.com or feel free to contact me directly at 207-650-5383 or via email at john@greentreemaine.com