MAINE REAL ESTATE SALES DOWN 22 PERCENT IN NOVEMBER

     SOUTH PORTLAND (December 23, 2008)—Maine’s Realtors sold 22.56 percent fewer existing, single-family homes this November when compared to November 2007. According to the Maine Real Estate Information System, Inc., 690 homes changed hands last month — 201 fewer homes than last November’s figures.  The median sales price declined 8.29 percent in November to $172,415. The median sales price indicates that half of the homes were sold for more and half sold for less.

     Nationally, single-family existing home sales were 8.8 percent lower than in November 2007. According to the National Association of Realtors (NAR), the national median sales price declined 12.8 percent to $180,800.  NAR also reported a regional sales decline of 18 percent in the Northeastern United States.  The regional median sales price of $257,700 reflects only a slight dip of 0.1 percent from November 2007.

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 of September, October and November of 2007 and 2008.

Androscoggin 195 183 -6.15% $155,560 $145,000 -6.79%

Aroostook 115 87 -24.35% $88,500 $99,900 12.88%

Cumberland 642 568 -11.53% $249,950 $225,750 -9.68%

Franklin 79 72 -8.86% $130,000 $116,750 -10.19%

Hancock 155 127 -18.06% $211,000 $200,000 -5.21%

Kennebec 267 249 -6.74% $155,000 $135,500 -12.58%

Knox 102 89 -12.75% $206,531 $162,500 -21.32%

Lincoln 94 70 -25.53% $240,000 $221,500 -7.71%

Oxford 162 124 -23.46% $142,984 $133,250 -6.81%

Penobscot 317 252 -20.50% $130,000 $132,575 1.98%

Piscataquis 52 39 -25.00% $125,100 $95,000 -24.06%

Sagadahoc 94 66 -29.79% $189,000 $184,500 -2.38%

Somerset 94 74 -21.28% $117,500 $98,313 -16.33%

Waldo 114 82 -28.07% $193,500 $158,250 -18.22%

Washington 10 18 80.00% $193,000 $49,500 -74.35%

York 468 415 -11.32% $235,950 $218,000 -7.61%

Source: Maine Real Estate Information System, Inc. Note: MREIS, a subsidiary of the Maine Association of REALTORS, is a statewideMultiple Listing Service with over 5,200 licensees inputting active and sold property listing data. Statistics reflect properties reportedas sold in the System within the time periods indicated