2006 Year End Housing Statistics
Posted on January 30, 2007
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 Inventories
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.
Number Homes Sold
York Cum Sag Lin
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 Lincoln
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
Comments
Leave a Comment
If you would like to make a comment, please fill out the form below.
You must be logged in to post a comment.
