Southern and Coastal Spring Housing Report

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 region!   Many great housing incentives and tax credits coupled with continued low interest rates and a strong stock market as of late are the major variable for this strong month. 

Going forward, despite all the rain we have seen up here, I hope the markets shall continue their strengh, the first time homebuyer market, already hot, I feel will heat up even more so as we get closer to the end of the year deadline for tax credits.

Thanks for reading,

John

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