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The Southern and Coastal Maine Real Estate Newsletter – Volume 4.9 - John Herrigel
Mission
“To Educate and Elaborate on this Great State”
Table of Contents
1. Housing Statistics:
2. Commentary: Increased Volume & Flat Pricing
3. Case Study: Bath vs Brunswick Head to Head Analysis
4. Featured…..
"You have freedom of choice, but not freedom from choice."
Housing Statistics:
Sold Properties by County – Aug 09 (Aug 08) (% Change):
# Sold Median. Price Median Days on Market
York 217 (208)(4%) 186K (215K)(-16%) 62 (59)(5%)
Cumberland 325 (316)(3%) 213K (230K)(-8%) 57 (56)(2%)
Sagadahoc 35 (20)(43%) 165K (170K)(-3%) 109 (61)(44%)
Lincoln 33 (36)(-9%) 150K (167K)(-11%) 79 (64)(19%)
Total Housing Inventories and Net Change by County:
9/21/09 8/26/09 Net Change
York 2794 2878 -84
Cumberland 3021 3002 19
Sagadahoc 478 487 -9
Lincoln 860 876 -16
Commentary: Increased Volume & Flat Pricing
The southern Maine real estate markets continue to move forward in encouraging directions. Transaction volume was once again up in 3 out of the 4 counties for August 2009 compared with August 2008. Median prices remain down about 10% relative to a year prior, but the month over month pricing has leveled off and continues to remain consistent. Inventories were flat through the summer months. Going forward watch for increased volume over the short term as 1st time homebuyers work to take advantage of the expiring tax credit, but there are rumors of an extension as well!
Case Study: Bath vs Brunswick Head to Head Analysis
The two hubs in mid coastal Maine, Bath and Brunswick both offer great year round communities within 30-45 minutes of Portland.
Brunswick is about twice the size of Bath and home to Bowdoin College as well asthe soon to be closing Naval Air Station whilst Bath, located on the Kennebec River is home to Bath Iron Works. Here is a snapshot of housing prices in each of these communities.
|
Bath |
Brunswick |
Current Inventory |
130 |
194 |
Median Ask. Price |
205K |
259K |
Sold Properties 2009 |
61 |
112 |
Median Sold Price 2009 |
128K |
215K |
Sold Properties 2008 |
71 |
190 |
Median Sold Price 2008 |
146K |
241K |
Featured…
Maine Company: Inverness Medical Innovations, Scarborough
A publically traded company with a large manufacturing plant here in Maine. They are the makers of the test to see if you have Swine Flu and are currently expanding operations!!
Stock ticker: IMA
Website: www.invernessmedical.com
Sites to Visit: www.mainelighthousemuseum.com
Saturday September 12th was Maine Lighthouse Day. Visit this site and help keep our lights burning bright!
Restaurant: The Ledges, Phippsburg
Looking for an adventure into mid coastal Maine? Head to Sebasco Harbor Resort in Phippsburg to enjoy a great bite from their seaside patio.
http://www.sebasco.com/Dining/sebasco_harbor_resort_the_ledges_dining.php
Quotable Quotes: “A little more moderation would be good. Of course, my life hasn’t exactly been one of moderation.”
Donald Trump
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 john@greentreemaine.com
Thanks for reading.
Next Issue: Mid October
www.MyMaineProperty.com
www.MainePropertyBlog.com
Disclaimers:
“Based on information from the Maine Real Estate Information System, Inc. for the period (8/1/2009) through (8/31/2009). Provided by an individual user of MREIS. MREIS has not reviewed the contents and does not make any representations, warranties or guarantees regarding the accuracy, timeliness or completeness of any statistical information and data provided.” Rev 8.06
All countywide data is derived from the Maine Association of Realtors.
All countywide data is derived from the Maine Association of Realtors.
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