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2006 Year End Housing Statistics

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Buying activity continued to remain strong through the holiday months and into early 2007.  After multiple months of sharp inventory decline perhaps an equilibrium in the short run has been found.   The ratio of new listings to sold listings was near 1 to 1 for December and price levels are seeing some volatility  month to month, but overall are very similar to where they were 1 year prior.   2007 will see healthy commercial and residential markets, a slower pace of new development and construction and a greater number of foreclosed properties on the market.

 

Inventories levels: A steady increase throughout the year, peaking in August/September, levels incrementally increased on a quarter by quarter analysis.

1st Qtr to 4th Qtr % Change in InventoriesÂ
York     Cum     Sag      Lin 
26%      17%      14%      25% 

Homes Sold: Following national trends, the pace of homes sold dropped supporting the rise in inventories above.                Â
         Â
Number Homes SoldÂ
 
                      York     Cum     Sag      LinÂ
2005                 3472     4445     447       497
2006                 2885     4020     443       425
% Change        -17%    -10%     -1%      -14%


Average Prices:
  Contrary to overall statewide and national statistics, coastal real estate prices continue to creep upward with moderate quarterly volatility due to seasonal buying and waterfront vs. non-waterfront property sales within a given quarter.

                   Average Price Sold (000’s)                         York     Cum     Sag      LincolnÂ
1st Qtr              273       291       216       237
2nd Qtr             280       294       231       290
3rd Qtr              285       317       222       266
4th Qtr              311       305       204       308
2006                  287      302       218       275

Visit www.mymaineproperty.com/maine-housing-statistics.html  for full data sets

 

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