1st Quarter 2017 ME real estate report...Prices Way Up!
May 12, 2017 in Market News

Things are on FIRE here in the Maine real estate world!  So we track primarily median sold prices & transaction volume for the counties of Cumberland (Greater Portland), York (Southern Maine) and Sagadahoc/Lincoln (Coastal Maine) on a monthly basis.


This past quarter saw the largest rise in median prices year over year that we have ever seen.

Prices were up 9.4% on an aggregate basis for the region followed with transaction volume up about 2%.

Both Coastal & Southern Maine posted greater than 10% gains whilst Greater Portland clocked in with a 7% increase. 

Why the large gains?   

Significantly more buyers in the market place coupled with an inventory shortage particularly in the Portland ME real estate marketplace has created the perfect storm for rising prices... a trend that will most  likely continue until more units are built and/or the economy collapses!

As seen below units sold were down 1% in Greater Portland and 5% in Coastal ME in this past quarter.  

Well..thanks for reading and we hope to continue to help with anybodies buyer and selling needs here in Maine! :)

Median Prices
Units Sold
2017
% Chg
2017
% Chg
Greater Portland
260K
7.06%
859
-1.06%
Coastal Maine
197K
10.94%
98
-5.10%
Southern Maine
235K
10.64%
650
7.54%

Disclaimer: “Based on information from the Maine Real Estate Information System, Inc. for the period (1/1/16 through 3/30/17 ). 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


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