John Herrigel - Southern Maine Real Estate | Maine Coastal Real Estate

Located to the North of Portland, Cumberland offers a great variety of housing options to choose from. Overall Cumberland Maine real estate has 99 homes on the market currently . In 2007 a total of 100 properties were sold at an average price of 413K. Home to the Cumberland Fair the community has a long tradition in agricultur and still maintains several working farms. This coastal maine community enjoys close proximity to Portland whilst retaining a strong rurla characte yet waterfront real estate can be found on Cumberland Foreside, one of the most desireable regions in the greater Portland Maine housing markets. Pricing in Cumberland is less than Falmouth and on par with Yarmouth. Visit Cumberland town website here

For the month of September pricing continued to remain off 15%-20% from a year prior in the 4 counties followed: York and Cumberland in the southern Maine housing market and Sagadahoc and Lincoln in the mid coastal Maine real estate market. The month over month pricing ticked down slightly in 3 of the 4 counties followed. Days on Market increased from a year prior and the transaction volume appeard to level off a bit.

Sold Properties by County – Sep 08 (Sep 07) (% Change):
# Sold Avg. Price Avg. Days on Market
York 211 (214)(-1%) 265K (336K)(-21%) 132 (114) (4%)
Cumberland 276 (275)(0%) 269K (312K)(-14%) 102 (86) (11%)
Sagadahoc 27 (35)(-23%) 192K (203K)(-5%) 134(102) (106%)
Lincoln 34 (22)(55%) 275K (325K) (-15%) 172 (180) (8%)

Total Housing Inventories and Net Change by County:
10/15/08 9/16/08 Net Change
York 2987 3045 -58
Cumberland 3259 3334 -75
Sagadahoc 468 461 7
Lincoln 850 854 -4

The number of Portland Maine Homes currently on the market including SF and condos is approximately 500. Similar to southern Maine real estate trends, the demand continues to slacken and prices continue to trend downward in Maine’s largest metropolitan cregion.

Avg Avg
# of Properties List Price Sold Price List/Sale
Current Listed 505 354,000 n/a n/a
Sold 2008 503 262,000 253,000 97%
Sold 2007 778 278,000 269,000 97%
Sold 2006 882 272,000 263,000 97%
Sold 2005 887 280,000 273,000 98%

The month of August saw the continued decline in southern Maine housing transactions as well as pricing. Days on Market have been edging slower and with a small decline in inventories, the 4 counties followed continue to chug along.

Sold Properties by County – Aug 08 (Aug 07) (% Change):

# Sold Avg. Price Avg. Days on Market

York 207 (288)(-28%) 256K (300K)(-15%) 105 (114) (-8%)
Cumberland 312 (433)(-28%) 289K (318K)(-9%) 84 (86) (-2%)
Sagadahoc 20 (48)(-58%) 207K (228K)(-9%) 75 (102) (-26%)
Lincoln 36 (61)(-41%) 29 5K (307K) (-4%) 149 (180) (-17%)

View more coastal maine real estate housing statistics here

With so many nooks and crannies and thus a large amount of Southern Maine real estate to choose from. Waterfront retreats, suburban living, summer communities on the coast, rural farms to the West here is a look at pricing for homes in some southern coastal Maine communities specifically around the greater Portland region.

Current Inventoy Total Sold 2007 Avg. Sold Price

Portland 489 778 269K
South Portland 142 344 245K
Falmouth 174 179 484K
Cumberland 97 100 413K
Yarmouth: 79 95 398K
Cape Elizabeth 91 149 452K
Westbrook 172 215 273K
Scarborough 189 252 356K
Saco 208 227 261K
Biddeford 172 139 277K
Old Orchard 249 200 232K
Kennebunkport 107 96 573K