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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.
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Current |
Sold 2009 |
Sold |
Sold |
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Inventory |
to Date |
2008 |
2007 |
# of Properties |
205 |
43 |
190 |
248 |
Median Price |
250K |
215K |
241K |
235K |
Days on Market |
199 |
113 |
77 |
61 |
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.
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