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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

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