The Greater Portland Maine real estate markets are starting to show some life after the long Maine winter. For the year to date through April 2011, there have been 618 home sales. The overall sales volume is down by 12.5 percent from the 2010 activity over the same time period.
Interestingly, values have risen by approximately 2.6 percent. Looking forward, current listing activity is down in the 7 percent range as is pending activity.
Follow this link for a detailed analysis of Greater Portland Maine real estate values or contact Derrick Buckspan at 207-956-0295.
The following are first quarter numbers for the Portland Condo housing market.
The number of current condo's on the market are down by 28.6% to 402 properties. The number of sales are down by 18.9% to 43 sales. The median sales price has risen by 13% to $218,666. The absorption rate has fallen by 7.6% to 48 months of available inventory.
Analysis: positive increase in values despite large decreases in available inventory and decrease in sales volume.
The following are first quarter numbers for the Gorham single family housing market.
The number of current homes on the market are down by 20% to 249 homes. The number of sales are up by 3.6% to 29 sales. The median sales price has risen by 3.5% to $213,333. The absorption rate has fallen by 20% to 44 months of available inventory.
Analysis: decrease in available inventory has resulted in in slight increase in sales volume, increase in values and decrease in absorption rate.
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.
The following are first quarter numbers for the Brunswick single family housing market.
The number of current homes on the market are down by 22.8% to 233 homes. The number of sales are down by 13.8% to 31 sales. The median sales price has increased by 9.5% to $210,316. The absorption rate has fallen by 10.8% to 38 months of available inventory.
Analysis: sluggish winter market indicating a slow start to the year, positive increase in values despite decrease in volume.
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