Southern Maine Spring Stabilization
Posted on June 12, 2008
In May the average sold pricing for York, Cumberland, Sagadahoc and Lincoln county single family real estate markets was down on average 3% to 5% in contrast to the significant price drops Southern and Coastal Maine saw in April. Comparing May 2008 to May 2006 the current sold prices are 3% higher than 2 years prior whilst Cumberland is off 6%. Current transaction levels in the Southern coastal real estate markets remains significantly lower and continues to trend downward. Spring inventory levels are on the rise and current levels are almost identical to those seen in 2006 whilst about 3% less than those seen in 2007. Optimism as always is in the air within the greater Portland Maine real estate community though. With the significant energy crisis on hand be ready for for continued slumping of overall sales.
View all housing statistics for Maine May numbers here.
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