Westbrook, ME

A total of 14 homes sold in Westbrook Maine during November. This reflected a 56% increase in sales volume compared to the same time frame last year. The average price for Westbrook homes sold in November was 179K, which was up 5% compared to November 2010.

If you are looking for holiday cheer in Westbrook this winter check out Westbrook’s Walker Memorial Library holiday events including story times, movies and crafts. Make Kwanzaa crafts and enjoy Wii tournaments.

This Westbrook Maine housing update is brought to you by the Herrigel Group - specializing in houses and condos in the greater Portland area. To learn more about homes for sale in Westbrook Maine, visit us online at www.myMaineProperty.com. Contact John Herrigel directly by phone at 207-650-5383 and email: johnherrigel@gmail.com

The following are first quarter numbers for the Westbrook single family housing market. The number of current homes on the market are marginally up by .77% to 259 homes. The number of sales are down by 3.84% to 25 sales. The median sales price has fallen by 17% to $170,933. The absorption rate has risen by 4.6% to 53 months of available inventory. Analysis: sluggish winter market indicating a slow start to the year, values falling with decrease in sales volume.

Greater Portland Maine real estate market reports by town.

The Westbrook Maine residential real estate market saw 6 transactions close in January 2011, up 20% from Jan 2010 and down 25% from December of last year. Median pricing clocked in at 183K, down 25% from January 2010 and up 18% from December 2010. Prices in Westbrook continue to stabilize, but the season overall has been slow as the snow and cold temps have kept home buyers at bay.

This report was compiled by John Herrigel with the Herrigel Group, a local real estate broker with Green Tree Realty. For more info on the local Westbrook Maine real estate markets please contact me directly at 207-650-5383 or via email at john@greentreemaine.com

MARKET REPORT

Westbrook, Maine 04092

Week of December 20th, 2010

(Residential Units Only, Including Condos)

116 Current Listings (-8 from last week) - Avg. Price 216,226 - Avg. Days On Mkt. - 141

24 Pending Listings (+1 from last week) - Avg. Price – 203,079

1 Sold Listings - (-1 from last week) - Avg. Price – 102,500

The Sold Price to List Price Ratio is 99% - Of this 1 sold, sellers got 99% of their asking price.

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Westbrook Together Days - This Friday and Saturday

For the 31st consecutive year, the merchants of Westbrook are putting on their annual celebration. Friday night's featured performer is Motor Booty Affair, followed by a fireworks show.

Saturday starts with a pancake breakfast at 7:00, a parade down Main Street at 10:00, entertainment featuring Rick Charette and the Bubblegum Band, Drouin Dance Center dancers, Acorn Productions, Jukado and many others throughout the day. Like Friday, Saturday concludes with a fireworks show.

There are 113 Single Family Homes, 27 Condos and 22 Multi Unit currently for sale in Westbrook.

For more information, log onto www.MaineHouseValues.com