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The Mid Coastal real estate region anchored by Bath and Brunswick posted fantastic residential real estate figures for the month ending October 2009.   Bath Maine saw 19 transactions at a median price point of 135K.  In September only 6 transactions took place and a year prior in October 2008, 10 homes sold in Bath Maine at a median price of 129K. Thus pricing in Bath was up as well.

The Brunswick residential market did not have quite as impressive figures as Bath but nonetheless still solid.  23 homes sold in Brunswick Maine at a median sales price of 185K after having sat on the market for 79 days.  The contrasts with 20 homes selling at 213K after sitting for 100 days in October 200 thus representing a volume increase of 15%, a pricing decrease of…

The greater Portland residential real estate market continues to chug along as evidenced by the recent monthly housing statistics on Falmouth and Cape Elizabeth.  In Falmouth, 20 homes sold in October, up 25% from a year prior and month over month volume was down just 2 transactions.  In Cape, 13 homes sold compared with just 5 a year prior and and up from 11 in September.  Median pricing fluctuated a bit for the two communities as Cape was flat compared to a year prior, but Falmouth was off about 35%. The median days on market for both communities continues to remain stable and in both of these towns inventory levels have dropped a bit relative to the previous month. 

Thus the Southern Maine real estate housing markets based on greater Portland and…

The Portland Maine real estate markets saw great transaction volume, but more of the same pricing decreases year over year.  for the month of October 2009.  49 residential properties traded hands with a median price point right around 200K, representing a volume increase year over year of 26% and a pricing decrease of 9% which is similar to previous months. The median price for real estate in Portland Maine has hovered around 200K since June of this year.  Volume each month has remained fairly volatile with large swings both ways.  The median days on market has remained between 40 and 50 since last spring.

Thanks for reading,

John

For the month ending September 2009, the mid coast markets anchored by the communities of Bath and Brunswick saw mixed results. In Brunswick, a total of 19 homes sold with a median sales price of 166K compared with 20 at a median sales price of 240K in 2008. In Bath, 6 homes sold in September 2009 compared with 8 in 2008 at a median sales price of 119K compared with 153K in 2008.  Home sales in mid coast Maine have been slower to recover from the economic downturn compared with the Portland real estate markets to the south.  The lack of a strong 2nd home buyers market coupled with less job opportunities in mid coast Maine are perhaps the 2 largest determining factors for the continued slower markets and greater price drops year over year.

Thanks for…

With Fall foliage in full swing here in  Maine....just the facts and a little commentary on how the residential real estate markets in the greater Portland region fared for the 3 month Qtr ending September 30th, 2009.

Total transaction volume for the 5 communities including Portland, South Portland, Westbrook, Falmouth and Cape Elizabeth clocked in at 431 compared with 399 in 2008, a 7% increase year over year.

The average median price for these transactions was 238K compared with 266K in 2008, representing a 12% decrease from year prior.  The markets however do seem to have found a bottom after the intense economic crisis with median prices down a bit from the start of the year, more of which can be attributed to the  1st time home buyers purchasing a…

As the leaves start to turn and the Fall foliage nears its peak  in Maine,  here is an analysis of the most recent quarter of activity ending August 2009 in the residential real estate markets of Portland Maine.  Transaction volume was down about 20% for the 3 month period with 186 total single family and condo transactions taking place compared with 210 in 2008 for the same period.  Median pricing also took a hit...down about 8% and clocking in at about 203K.  Month over month however the transaction volume and median pricing for the past half a year plus have leveled out pointing perhaps to the bottom in this market, but as the winter approaches and with the federal tax credit set to expire the situation still remains a bit tenous… Read Full Post

The month ending June 2009 saw extremely strong southern Maine residential housing numbers for the 4 counties I follow, York, Cumberland, home of Portland Maine, Sagadahoc and Lincoln counties.  York saw a 36% increase in transaction volume, the first increase in well over a year, whilst Cumberland only decreased by 3%. Lincoln saw a 66% increase and Sagadahoc had a 22% decrease but sample sizes are small in these mid coastal real estate communiities.   Pricing in York and Cumberland were down 12% and 3% respectively, but month over month have been on the rise to holding steady since January.  Sagadahoc and Lincoln saw significant pricing increases this past month, a strong sign that the critical market segment of 2nd home buyers is returning to this…

For the month ending June 2009, the Portland ME real estate markets fared well with 65 transactions closing at a median price point of 205K.  The compares with 89 at 215K a year prior. A 5% drop in pricing year over year, less than the southern maine real estate norm of about 10% or so though.  Going forward the Maine state housing gift of green for 5K coupled with the 8K federal tax credit should continue to propel the markets in good directions.    Portlands East and West End real estate markets continue to remaine good holders of value as well.  Thanks for reading, John