|
The Southern and Coastal Maine Real Estate Newsletter – Volume 4.11 - John Herrigel
Mission
“To Educate and Elaborate on this Great State”
Table of Contents
1. Housing Statistics:
2. Commentary: Southern Maine Stability
3. Case Study: Portland Maine Condo Analysis
4. Featured…..
"You have freedom of choice, but not freedom from choice."
Housing Statistics:
Sold Properties by County – Oct 09 (Oct08) (% Change):
|
|
Transactions |
|
|
Prices |
|
|
DOM |
|
|
2009 |
2008 |
Change |
|
2009 |
2008 |
Change |
|
2009 |
2008 |
Change |
York |
253 |
185 |
37% |
|
190 |
210 |
-10% |
|
91 |
103 |
-12% |
Cum |
334 |
259 |
29% |
|
201 |
234 |
-14% |
|
58 |
93 |
-38% |
Sag |
46 |
36 |
28% |
|
167 |
185 |
-10% |
|
95 |
71 |
34% |
Lin |
38 |
32 |
19% |
|
202 |
238 |
-15% |
|
101 |
125 |
-19% |
Total Housing Inventories and Net Change by County:
|
11/16/09 |
10/21/09 |
Change |
York |
2574 |
2705 |
131 |
Cum |
2723 |
2852 |
129 |
Sag |
439 |
463 |
24 |
Linc |
790 |
831 |
41 |
Commentary: Strengthening Southern Maine Markets
The month of October saw a continued strengthening of residential real estate markets. Volume was way up year over year for the 4 counties followed. In addition 3 out of the 4 counties saw month over month volume increases. Year over year pricing is still off 10% or more, but month over month pricing has stabilized with the decreasing inventories further reinforcing this stabilization. In addition, the median days on market for residential property in southern Maine has continued to fall. The extended first time home buyer tax credit coupled with strengthening economic markets should help keep the real estate markets of Maine moving forward.
Case Study: Portland Maine Condo Market Analysis
The Portland condo market continues to struggle a bit more than the single home market primiarly due to overpriced listings. The current median asking price is 220K compared with a median sold price to day in 2009 of 184K. Here is some specific data on it all:
Year |
Units Sold |
Median Price |
% Price Chg |
Median DOM |
2009 (adj) |
193 |
184 |
-14% |
67 |
2008 |
249 |
214 |
-3% |
64 |
2007 |
288 |
220 |
10% |
70 |
2006 |
312 |
200 |
-14% |
60 |
2005 |
368 |
233 |
10% |
44 |
2004 |
296 |
212 |
|
30 |
Featured…
Site to Visit: www.MaineOil.com
Take a look to get the best prices for the region when preparing to purchase your home heating oil.
Restaurant: Mid Coast Pizza, Bath Maine
A great alternative to the famous Cabin pizza. A bit cheaper and just as tasty! Visit them online at www.midcoastpizzaandmore.com
Quotable Quotes: "We are what we repeatedly do. Excellence, therefore, is not an act, but a habit" Aristotle
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 November
www.MyMaineProperty.com
www.MainePropertyBlog.com
Disclaimers:
“Based on information from the Maine Real Estate Information System, Inc. for the period (10/1/2009) through 10/31/2009). 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.
|
Maine MLS Search