The Maine Newsletter 4.6

The Southern and Coastal Maine Real Estate Newsletter – Volume 4.6 - John Herrigel

Mission
“To Educate and Elaborate on this Great State”
Table of Contents
1. Housing Statistics:
2. Commentary:  Southern Maine Resilience
3. Case Study:   Brunswick Maine Market Report
4. Featured…..       

"You have freedom of choice, but not freedom from choice."
                                                                                                                       
Housing Statistics:
Sold Properties by County – May 09 (May 08) (% Change):
                       # Sold                           Avg. Price                       Avg. Days on Market 
York                143 (188)(-24%)         244K (275K)(-11%)         147 (136)(8%)
Cumberland   270 (303)(-11%)         257K (270K)(-5%)           116 (111)(5%)
Sagadahoc       21 (23)(-9%)               192K (229K)(-16%)         196 (122)(61%)
Lincoln            26 (34)(-24%)              203K (265K)(-23%)         254 (191)(33%)
           
Total Housing Inventories and Net Change by County:
                            6/10/09        5/18/09            Net Change
York                    2773           2691                    82
Cumberland       2874           2760                    114
Sagadahoc          414              405                       9
Lincoln                801             749                      52

Commentary:  Southern Maine Resilience       
The southern Maine markets once again posted decent results, all things considered.   The number of homes sold continues to remain off approximately 20% from a year prior, but the month over month volume has increased in York and Cumberland throughout the spring season.  Average prices were down again, less in southern regions, more in mid coastal areas.  Going forward I believe we will see poor results in June, July and August as the recent interest rate spike coupled with a dismal global market outlook will continue to weigh heavily on the markets.  In addition, the short sale and foreclosure process shall further “gum up” and help contribute to the slower markets.   Overall a  less than ideal picture, but despite all this… it is still one of the best times to buy in recent history with rates historically low, sellers scared and pricing for the most part holding steady.

Case Study:  Brunswick Maine Residential Housing Market Report
Here is a look at the current market conditions as well as a brief historical analysis of Brunswick Maine, a mid coastal Maine community.
The local statistics support the overall slower mid coastal real estate markets with significantly decreased sales volume relative to the greater Portland region.

Featured…

Maine Company: Maine Sailing Adventures
Looking for a great way to see Portland, sail aboard the Frances, a 74 foot Maine built windjammer.  Daily tours, charter available.
A wonderful boat from my first hand experience with a great crew to entertain and educate. Visit them at www.mainesailingadventures.net

Sites to Visit: http://www.alphamom.com/hotspots/2008/06/activities-with-kids-portland-maine.php
A Long link but a great post I found on a blog entitled: “Portland, Maine: 50 Things to Do With Kids Before They Grow Up”
Looking for an activity this summer, read this!

Restaurant: Saporro, Portland
Been featured before but still my personal favorite for sushi. Located right on Commercial street. Try the Red Dragon Roll!! Visit them at http://www.sappororestaurant.com

Quotable Quotes:   “Be the change you wish to see in the world” Mahatma Gandhi

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

Disclaimers:
“Based on information from the Maine Real Estate Information System, Inc. for the period (5/1/2009) through (5/31/2009). 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.