In November 2008, the Portland Maine real estate markets witnessed 51 residential transactions take place at an average price of 259K with a days on market average of 75 days. Compared with November 2007 where 47 transactions occurred at an average price of 265K. this represents a 9% year over year transaction increase and a pricing drecrease of 6%.
For greater information on homes for sale in Portland Maine please visit www.portlandmainehome.com
Bath Maine real estate markets saw 5 transactions occur with an average sold price of 112K after sitting on the market for an average of 147 days. Comparing this to November 2007 where 8 properties sold at an average price of 269K representing a transaction volume drop of 38% and a price drop of 58%. No doubt the markets are slow but with the small sample size it is difficult to accurately ascertain the exact decreases.
To get more information on this mid coastal Maine real estate market visit www.mymaineproperty.com or contact me directly at 207-650-5383 or via email at john@greentreemaine.com
The real estate markets in Brunswick Maine saw 8 transactions take place with an average sold price of 273K after sitting on the market for 58 days. Contrasting with November 2007 where 19 homes sold at an average price of 287K. This represents a transaction volume drop of 58% and a pricing decrease of 5%.The days on market in November 2007 were 69.
For more information on this coastal Maine housing market visit www.mymaineproperty.com or contact me directly at 207-650-5383 or via email at john@greentreemaine.com
It seems for the time being a bottom has been found in the Southern Maine real estate housing markets. Steady as she goes the month ending October 2008 saw little change in prices from August and September. Transaction volume remains down 10% from a year prior and average sold prices are 10-15% off last years numbers but the month over month pricing has held up well. Additionally this past month saw a significant increase in days on market averages for 3 out of the 4 counties followed that point towards a slow road ahead. Significant decreases in inventory levels did occur as well this past month as parties will take their homes off the market for the coming winter season. For more Maine housing statistics please visit www.mainepropertyblog.com
# Sold Avg. Price Avg. Days on Market
York 185 (210)(-12%) 262K (286K)(-8%) 137 (152) (-10%)
Cumberland 259 (280)(-8%) 269K (312K)(-14%) 119 (91) (31%)
Sagadahoc 36 (35)(3%) 212K (236K)(-10%) 114(97) (18%)
Lincoln 32 (44)(-27%) 300K (286K) (5%) 215 (192) (12%)
The real estate in Portland Maine's Deering neighborhood is some of the finest in the area. A suburb of Portland yet still within the Portland city limits, the sense of community is strong, the neighborhoods are quiet and thus the quality of life is strong. Currently there are 70 properties on the market, about 2/3rds homes and a 1/3 condos. The average asking price is 300K for a single family and 197K for a condo. For the year to date the average sold combined price of homes and condos combined has been 244K contrasted with 256K for 2007.
For more information on the Deering Neighborhood of Portland Maine, visit www.portlandmainehome.com
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Greater Portland and lower Mid Coast Buyers Agent for investors, first timers and retiring/relocating to Maine
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