The Maine Newsletter – Volume 2.3 - John Herrigel
Mission
“To Educate and Elaborate on this Great State”
Table of Contents
1. Housing Statistics
2. Commentary: Housing Sales Drop
3. Case Study: Pricing Point Activity?
4. “From Away”: Maine Land Use Commission
5. Featured…..
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Housing Statistics:
Sold Properties by County – March 2007 (March 2006):
# Sold Avg. Price Avg. Days on Market
York 188 (232) 270K (264K) 123(100)
Cumberland 276 (319) 280K (294K) 95 (99)
Sagadahoc 31 (47) 232K (193K) 133 (134)
Lincoln 38 (25) 307K (216K) 208(148)
Total Housing Inventories and Net Change by County:
4/28/07 3/27/07 Net Change
York 2813 2654 159
Cumberland 2629 2492 137
Sagadahoc 348 324 24
Lincoln 656 623 33
Commentary: Housing Sales Drop
Last week the National Association of Realtors released March statistics showing the largest drop in 18 years for home sales. The Maine Association of Realtors released statewide statistics showing a statewide drop of 12.4% compared to 8.4% for the nation. Despite these drops the average sold price for the month inched higher, 0.5% nationwide and 2.5% for Maine. The housing statistics for the 4 counties followed mirror the national and statewide stats; lower volume, higher average prices. Largely attributed to stricter lending practices rolled out in March and significant harsh weather thanks to mother nature activity in the local markets continues to remain strong and not as dire as the statistics may lead one to believe.
Case Study: What Price Point has the most Activity?
Taking all Single Family homes sold in York and Cumberland County, here is a breakdown of the number of homes sold and the percentage of the total for the 3 months ending March 31st 2007.
|
York |
Cumberland |
|
Total |
% of Total |
Total |
% of Total |
Under 150K |
77 |
16% |
28 |
5% |
150K-200K |
124 |
25% |
125 |
21% |
200K-250K |
104 |
21% |
146 |
24% |
250K-300K |
63 |
13% |
97 |
16% |
300K-400K |
61 |
12% |
112 |
18% |
400K-500K |
28 |
6% |
49 |
8% |
500K-1 Mill |
26 |
5% |
43 |
7% |
Greater 1 Mil |
6 |
1% |
6 |
1% |
|
489 |
|
606 |
|
“From Away” - Maine Land Use Regulation Commission
Looking for a remote getaway in Maine. A state with the largest contiguous undeveloped land mass in the Northeast, the Maine Land Use Regulation Commission(LURC) has jurisdiction over approximately 10.4 million acres of land in the state (approximately 50% of all land in Maine.) Created in 1971 as a response to the boom in recreational real estate development of the 60’s LURC is the largest planning and zoning authority around wielding enormous power and shaping public policy. When buying property in the less populous regions of the state be sure to run your grandiose plans for development by LURC so as not be stymied. Recent headline stories with LURC jurisdiction include the Moosehead Lake and Saddleback Ski Resort redevelopments. Read their land use plan here
Featured….
Maine Company: Coast of Maine Organic Products
Founded in 1996 as a partnership with Great Eastern Mussel Farms in an effort to recycle organic waste. Coast of Maine has grown to service Maine salmon and blueberry farm primarily in Washington County. The company provides a wide array of organic certified composting and plant food products throughout the nation. Visit them online at www.coastofmaine.com
Site to Visit: MOFGA.org
For everything and anything relating to organic farming and gardening in Maine, the Maine Organic Farmers Association website is a wealth of information. Become a member today for $35/annually to receive their quarterly newsletter as well as gain admission to the famous common ground fair in August.
Restaurant: Solo Bistro, Bath Maine
On Front Street in downtown Bath with live jazz evenings and periodic wine tasting dinners Solo Bistro is well worth a trip. A spectacular chef, great wait staff , a hip atmosphere, nightly price fix selections and deserts to keep you coming back for more. Visit them at www.solobistro.com . Open for dinner only
Quotable Quotes:
“I felt like I’d been misplaced in the cosmos and I belonged in Maine” Terry Goodkind
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
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Thanks for reading.
Next Issue: Mid-Late April
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**All housing data has been derived from the Maine IDX MREIS System
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