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The Southern and Coastal Maine Real Estate Newsletter – Volume 5.3 - John Herrigel
Mission
“To Educate and Elaborate on this Great State”
Table of Contents
1. Housing Statistics:
2. Commentary: Slow Sales in Souther Maine Home Market
3. Case Study: Cumberland County Analysis
4. Featured…..
"You have freedom of choice, but not freedom from choice."
Slow Sales in February pave way for strong Spring - March 2010
In the month of February the Southern ME real estate markets saw both up and down results in regards to pricing and transaction volume. The results are the residual effect of a very slow holiday season we endured. Currently the markets are as strong as they have been in over 3 years with prices continuing to stabilize, inventories remaining low and many active buyers in the marketplace. Over the next few months look for higher transaction volume, decreasing DOM and a real estate feeding frenzy as buyers capitalize on the expiring tax credit and rates stay below 5%!
February Housing Statistics
|
Transactions |
|
Prices |
|
| DOM |
|
| 2010 | 2009 | Change |
| 2010 | 2009 | Change |
| 2010 | 2009 | Change | | York | 98
| 103
| -5% | | 187
| 170
| 10% | | 86
| 91
| -5% | | Cumberland | 163
| 138 | 18% |
| 210 | 219 | -4% |
| 81
| 106
| -24% | | Sagadahoc | 22
| 21
| 5% |
| 146 | 167 | -13% |
| 98
| 77
| 27% | | Lincoln | 13
| 10 | 30% | | 147
| 169
| -13% | | 151 | 202
| -25% |
Current Inventory Levels
| 3/16/10
| 2/18/10 | Change | | York | 2448 | 2339 | 109
| | Cumberland | 2489 | 2398 | 91
| | Sagadahoc | 373 | 366
| 8
| | Lincoln | 676
| 658
| 18
|
View More Housing Statistics
Case Study:Cumberland County Historical Analysis
Here is a look at the most densely populated county's overall historical housing picture.
| 2003 |
2004 |
2005 |
2006
|
2007 |
2008
| 2009
| | Sold Homes | 3953
| 4330
| 4448
| 4063
| 3703
| 3060
| 2590
| Avgerage Sold Price
| 239K
| 270K
| 294K
| 303K
| 302K
|
275K
|
269K | Yearly Appreciation/Depreciation
| 11%
| 13%
| 9%
| 3%
| 0%
| -9%
| -2%
|
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Featured
Website: www.mainehousing.org
As a first time home buyer you can currently get rates at 4.75% and up to $4,500 in free money from Maine State Housing.
Restaurant: Steve and Renee's Diner, Portland
My hands down favorite "go to" diner in Portland. Friendly, prompt service with the ability to get a great meal for under $5! Located at the corner of Washington Street and Veranda Street right off of I-295. Phone: 207-775-2722
Quotable Quote:
"A person who never made a mistake never tried anything new." Albert Einstein
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.
I am a Maine Buyers Broker servicing the Greater Portland and Lower Mid Coastal Southern Maine Real Estate Markets.
Next Issue: Mid April
Disclaimers:
“Based on information from the Maine Real Estate Information System, Inc. for the period (2/1/2010) through 2/28/2010). 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.
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