Central Maine Blog

MAINE REAL ESTATE MEDIAN PRICES UP 1.62 IN NOVEMBER; SALES DOWN OVER 10 PERCENT

SOUTH PORTLAND (December 31, 2007) – Median sales prices for single-family existing homes in Maine edged upward last month while sales of those homes were down over 10 percent. According to the Maine Real Estate Information System, Inc., 891 homes sold during the month of November 2007, a decrease of 10.63 percent from November 2006.  Median prices, however, rose 1.62 percent. Maine’s median existing single-family home price reached $188,000 last month, up from $185,000 last year. The median sales price indicates that half of the homes were sold for more and half sold for less.

The National Association of Realtors (NAR) today reports that across the country, singlefamily home sales decreased 19.9 percent in the past 12 months. The national median existing sales price dipped 3.7 percent to $208,700.  Regionally, sales in the Northeastern United States mirrored national statistics with a 19.4 percent drop in sales. NAR said prices are also down regionally: The median sales price in the Northeast decreased 3.2 percent to $258,300.

The winter season has ushered in positive sales for some resort areas. Below are two charts showing statistics for Maine and its 16 counties. The first chart lists statistics for the month of November only, statewide. The second chart compares the number of existing, single-family homes sold (units) and volume (MSP) during the months ofSeptember, October and November of 2006 and 2007.

NOVEMBER ONLY CHART

Comparing Nov. 1-30, 2006 and Nov. 1-30, 2007

County # Units Sold # Units Sold % MSP MSP % Change    2006    2007     Change        2006          2007

STATEWIDE 997 891 -10.63% $185,000 $188,000 1.62%

ROLLING QUARTER CHART

From September 1 - November 30, 2006 & From September 1 - November 30, 2007

County # Units Sold # Units Sold % MSP MSP % Change  2006  2007     Change    2006           2007

STATEWIDE 3408 2960 -13.15% $190,000 $189,000 -0.53%

Androscoggin 271 195 -28.04% $156,500 $155,560 -0.60%

Aroostook 130 115 -11.54% $77,200 $88,500 14.64%

Cumberland 760 642 -15.53% $258,500 $249,950 -3.31%

Franklin 95 79 -16.84% $127,500 $130,000 1.96%

Hancock 157 155 -1.27% $214,000 $211,000 -1.40%

Kennebec 332 267 -19.58% $145,000 $155,000 6.90%

Knox 114 102 -10.53% $200,000 $206,531 3.27%

Lincoln 108 94 -12.96% $271,000 $240,000 -11.44%

Oxford 159 162 1.89% $152,500 $142,984 -6.24%

Penobscot 350 317 -9.43% $139,000 $130,000 -6.47%

Piscataquis 77 52 -32.47% $118,000 $125,100 6.02%

Sagadahoc 77 94 22.08% $189,900 $189,000 -0.47%

Somerset 101 94 -6.93% $110,000 $117,500 6.82%

Waldo 104 114 9.62% $162,250 $193,500 19.26%

Washington 20 10 -50.00% $74,388 $193,000 159.45%

York 553 468 -15.37% $245,000 $235,950 -3.69%

Source: Maine Real Estate Information System, Inc. Note: MREIS, a subsidiary of the Maine Association of REALTORS,

Posted by Rachel Anderson on January 12th, 2008 1:05 PMPost a Comment (0)
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