Volume 1.11 - The Maine Newsletter - John Herrigel
Mission
“To Educate and Elaborate on this Great State”
Table of Contents
1. Housing Statistics
2. Commentary: Price increases in all 4 counties
3. Case Study: Cost of a Single Family Home in Portland
4. “From Away”
5. Featured…..
"You have freedom of choice, but not freedom from choice." Click here to Unsubscribe
Housing Statistics:
Sold Properties by County - Nov 2006 (Nov 2005):
# Sold Avg. Price Avg. Days on Market
York 185 (272) 325K (290K) 106 (92)
Cumberland 282 (302) 320K (299K) 93 (79)
Sagadahoc 27 (34) 203K (191K) 109 (66)
Lincoln 29 (34) 303K (298K) 114 (76)
Total Housing Inventories and Net Change by County:
12/30/06 11/29/06 Net Change
Cumberland: 2461 2801 -340
York 2556 2830 -274
Lincoln 608 666 -58
Sagadahoc: 308 341 -33
Commentary
Despite an overall average price drop of 3.9% for the state in November 2006 over 2005, the 4 counties above all saw price appreciation for the first time in multiple months with a combined 7% average increase and York topping out at 12%. Taking into account that the volume of transactions dropped sharply, 19% on average with a staggering 32% drop in York. Market depressions historically last on average 3-5 years and longer making this rise appear more likely to be an anomaly than a trend, but inventories continue to decrease and it is FACT that buying activity has markedly increased as of recent months.
Case Study: The Cost of a Single Family Home in Portland
#Sold Avg. Sold Price Avg. DOM
2000 479 157K 52
2006 565 276K 73
Area by area (2006)
West End 41 473K 71
East End 15 196K 56
Deering 151 276K 71
Outer Portland 191 244K 71
Currently (as of 12/30/06) there are 189 properties on the market with an average asking price of 337K. The lowest price house is 150K and the highest is 2.1 million.
Asking Price breakdown:
Under 200K 21 homes
200K-250K 40 homes
250K-300K 39 homes
300K-500K 69 homes
500K and Greater 21 homes
“From Away” - Higher Education in Maine
For a state with a population topping out just over 1 million, Maine boasts a wide array of excellent higher education institutions that attract a diversity of students. For small liberal arts enthusiasts, Bates in Lewison, Bowdoin in Brunswick and Colby in Waterville offer “Ivy League” caliber education in a wonderful small school environment. The University of Maine with 7 campus’s and 11 regional outreach centers offers over 175 programs alone at it largest facility in Orno. Try the Maine Maritime Academy for boating and international trade, MECA for artist or the Bangor Theological Society for higher callings. Visit Here for a complete listing of all Maine colleges and universities.
Featured….
Quotable Quotes:
“When I go to the Bar, I don’t go out looking for a girl who know’s the capital of Maine.”
David Brenner, US Comedian
Maine Company: Maine Lobster Direct.
Named by Food and Wine as one of the top mail-order seafood companies. With a 100% satisfaction guarantee, order today, dine tomorrow. MaineLobsterDirect.com is a family owned business located on Union Wharf in the heart Portland’s working waterfront and one of the oldest internet based lobster delivery companies.
Visit: www.mainelobsterdirect.com
Site to Visit: Maine News Media Websites
Stay abreast of local area new stories with these excellent resources
www.MaineToday.com
www.TimesRecord.com
www.keepMECurrent.com
www.PortlandPhoenix.com
Restaurant: El Camino - Brunswick
Looking for Mexico in Maine. A casual, authentic atmosphere off the beaten track yet very accessible. Excellent daily special entrée’s and margaritas at reasonable prices. Ph: 725-8228
HAPPY NEW YEAR!!
All information contained herein is deemed accurate when facts are stated. All opinions are that of the author. We apologize for any inaccuracies, offenses or misrepresentations
If you know of any interested party who would like to receive this newsletter, please have them send an email to jherrigel@greentreemaine.com
If you wish to unsubscribe please click here or reply with unsubscribe in the subject line.
Thanks for reading.
Next Issue: Mid-Late January
www.MyMaineProperty.com
**All housing data has been derived from the Maine IDX MREIS System |