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Southern Maine January 09 Real Estate Report

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The month of January did not treat the southern and greater Portland Maine real estate markets kindly.  In most communities transaction volumes were a fraction of what they were a year prior or even a month earlier.  For instance South Portland saw 7 home sell vs 13 from a year prior and Freeport saw one transaction relative to 8 in 2008. Falmouth was the only community that had an increase with 8 homes trading hands vs 5 the year prior.

This southern Maine real estate slowdown can partially be attributed to colder temps and more snow than average this past January although I feel it is more largely attributed to the general state of our economy and housing marktets. Optimism is not dead yet though and with the entire system being psychologically driven in many ways…KEEP THE FAITH.  For more housing statistics on Maine please visit www.mymaineproperty.com

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