The Bath Maine real estate markets saw 19 transactions take place with a median sold price of 135K and a median days on market of 96 in October 2009. This contrasts with 10 homes sold at a median sold price of 129K after sitting on the market for 87 days in October 2008. 6 homes were sold in September 2009 showing a huge improvement in market conditions for the mid coastal Maine housing markets. The inventory level sits at 122 home on the market compared with 132 a couple of months prior.
For more information on this coastal Maine community please visit www.mymaineproperty.com, contact me directly at 207-650-5383 or via email at john@greentreemaine.com
For the month ending October 2009 the Brunswick Maine real estate market saw 23 single family and condo residential transactions occur at a combined median price of 185K with each home sitting on the market for a median of 79 days. This represented a 20% increase in transaction volume over September and it is also 15% greater than October 2008 a year prior. Pricing however was down 13% year over year but up 9% compared with the recent month. The current inventory level rests at 179, down from 196 in September.
To find out more real estate and community information on this Maine coastal community please visit www.mymaineproperty.com, contact me directly at 207-650-5383 or via email at john@greentreemaine.com
I recently did a bit of analysis on the condo market in Portland Maine.
My conclusion: Basicallly the current inventory is overpriced and we are on track to sell just about HALF the volume we saw in 2005, wow!
No huge surprises here given the economic and global climate, but I was a bit startled at the unrealistic expectations of many sellers still. There are currently about 200 condos on the market in Portland with a median asking price of 220K.
In 2008 the median sold price was 214K, not far off, but to date in 2009, the median price for a Portland Maine condo for sale was 184K, significantly less than 220K. Part of this figure is clearly the result of lower priced foreclosures and the first time home buyer market snapping up cheap listings, yet the median days on the market for this current inventory is 165, contrasting sharply with a median days on market of around 60 for the past 4 years sold condo transactions.
Thanks for reading
John Herrigel
Portland Maine Buyers Agent
Green Tree Realty
For the month ending October 2009 the Freeport Maine real estate markets saw 9 transactions transpire at a median sales price of 309K. Up sharply from October 2008 when only 5 properties traded hands at a median price of 245K. Pricing month over month has been up for the last 3 consecutive quarters.
For more information on real estate in mid coastal Maine please visit www.mymaineproperty.com or feel free to contact me directly at 207-650-5383 or via email at john@greentreemaine.com
Yarmouth Maine residential real estate saw 7 transactions take place in October 2009 compared with 5 a year prior in October 2008. Median pricing clocked in at 275K compared with 239K in October 2008. Thus the median year over year pricing was up 13% and month over month was up 12%. This market is on the cusp of the slower mid coastal region and the more stable/active greater Portland region. Currently the residential market appears healthy.
For more information on southern Maine real estate please visit www.mymaineproperty.com or feel free to contact me directly at 207-650-5383 or via email at john@greentreemaine.com
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Greater Portland and lower Mid Coast Buyers Agent for investors, first timers and retiring/relocating to Maine
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