Scarborough, ME

The Scarborough Maine residential real estate market saw a 19% increase in transaction volume for the 3^rd Quarter of 2011. A total of 64 homes were sold during this quarter, giving the town of Scarborough an about average increase in sales for the region – coastal and southern Maine saw an average 20% increase in sales. Median prices for Scarborough Maine homes increased to 272K - a 1% gain year over year. Through southern Maine pricing was stable and list to sales ratio in the area has been around 97%, so if priced properly a home in Scarborough will sell at fair market value.

To learn more about the history of the town of Scarborough visit the Scarborough Historical Society. For more information on Scarborough Maine real estate check out the Herrigel Group at mymaineproperty.com – specializing in southern and coastal Maine homes for sale. For direct contact about Scarborough ME homes for sale, contact John Herrigel by email at johnherrigel@gmail.com or by phone: 207-650-5383

The real estate markets of Scarborough Maine had a relatively poor showing this past May as only 14 homes and condos sold compared with 30 a year prior in May 2010. Median prices were also down about 7%, but given the smaller amount of homes that sold I would not put a ton of credibility in this median sold price drop. Overall the greater Portland region has stabilized from a pricing perspective and volume is down largely as the result of the housing credit boom of last year.

For more info on Scarborough ME real estate please reach out directly. My name is John Herrigel and I am a local Maine broker with Green Tree Realty and can be reached at 207-650-5383 or via email at johnherrigel@gmail.com

The real estate markets in Scarborough Maine had a strong showing for the first 3 months of the year with 36 residential transactions transpiring at a median sales price of 293K compared with 31 properties selling at a median price of 265K in 2010. Despite the rough winter weather and a slower greater Portland real estate market as a whole..it seems Scarborough was able to keep its volume up..perhaps attributed to its strong community and great quality of life! Going forward watch for continued strong market results. For the complete Maine first quarter real estate report please click here.

For more info on Scarborough real estate please reach out directly. This report was compiled with statistics from MREIS and the Maine Association of Realtors My name is John Herrigel and I am a local Maine broker associated with Green Tree Realty. I can be reached at 207-650-5383 or via email at johnherrigel@gmail.com

The following are first quarter numbers for the Scarborough single family housing market.

The number of current homes on the market are down by 3.4% to 338 homes. The number of sales are up by 14% to 33 sales. The median sales price has crept up by 5.4% to $298,750. The absorption rate has fallen by 14% to 52 months of available inventory.

Analysis: sluggish winter market indicating a slow start to the year, positive increase in volume and value.  Positive decrease in absorption rate.

Please take a look at the photo of this beautiful home below.

Brett Kelly and Keller Williams Realty will be showcasing this property on Sunday, February 27th, from 1 - 2:30pm.

I will be present at the open house as a local mortgage specialist available to answer financing related questions. In this current mortgage environment there are plenty of questions to ask. Please take advantage of the chance to view this wonderful ownership opportunity and get free, reliable answers and advice from a local mortgage expert.

6 Overlook Drive is a single family, colonial style home. It boasts 2,580 square feet of finished living space, 4 bedrooms, and 2+ baths. There is a 2 car attached garage with direct entry to the home. The property is well landscaped. This home also includes an amazing kitchen area that you have to see for yourself.

Brett and I look forward to meeting you on Sunday.