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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%

York County January 2010 Real Estate report

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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


Coastal and Southern ME August 09 Housing Stats

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For the month ending August 2009, the southern maine real estate markets including York, Cumberland and the mid coastal real estate markets including Sagadahoc and Lincoln posted similar results to those seen in July. Median pricing continues to remain off about 10% from a year prior but month over month home prices have held strong, fluctuating up and down a bit but for the most part leveling off.  Transaction volume was once again up in 3 of the 4 counties followed.  Inventories remained flat.  Read the full August 09 real estate report here.

Thanks for reading,

John Herrigel

Maine Buyers Broker


York County Real Estate 2008 Year in Review

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For the year ending 2008, the York County real estate market was hit harder than its counterpart Cumberland to the North. 2009 residential transactions transpired at an average sold price of 270K. This is off about 20% in volume and close to 11% in pricing compared to 2007.  The average days on market is also significantly higher in York vs Cumberland at 129 in 2008 for York vs around 100 for Cumberland.  A factor most likely in the lower prices and longer days on market is the stagnation in Maine waterfront real estate as a large portion of York county is on the water.

For additional info, please contact me directly at 207-650-5383 or john@greentreemaine.com
Thanks for reading,

John


Southern Maine November 2008 Housing Report

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In November 2008 the southern mid coastal Maine real estate markets saw much of the same conditions  that have persisted over the previous months with average sold prices continuing to be 10-15% off where they were a year prior, housing transaction volumes markedly lower and continued lengthening of the days on market for Cumberland and York whilst small sample sizes in Sagadahoc and Lincoln made it difficult to discern actual trends.  However one bright spot  revealed in the November 2008 housing data  is that the average sold prices month over month have not statistically fallen since the end of the summer pointing to perhaps a leveling out in this market.

More info on southern maine communities.

Greater analysis on coastal Maine communities.

Thanks for reading


October Home Sales report for Southern Maine

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The month ending October 31st 2008 saw little change from current market trends in the Southern Maine real estate markets..  On average the transaction volume remains down 10% from a year prior and average sold prices are 10-15% off last years numbers.  However on a month over month analysis the average pricing appears to have leveled off.  This past month saw a significant increase in days on market averages for 3 out of the 4 counties followed pointing towards a slow road ahead.  Significant decreases in inventory levels did occur as well this past month as parties traditionally take their homes off the market for the coming winter season.

Maine Housing Statistics:
Sold Properties by County – Sep 08 (Sep 07) (% Change):
         # Sold                          Avg. Price                   Avg. Days on Market 
York                185 (210)(-12%)            262K (286K)(-8%)              137 (152) (-10%)
Cumberland      259 (280)(-8%)             269K (312K)(-14%)              119 (91) (31%)
Sagadahoc       36 (35)(3%)                   212K (236K)(-10%)               114(97) (18%)
Lincoln             32 (44)(-27%)               300K (286K) (5%)             215 (192) (12%)
Thanks for reading about real estate in Southern Maine