Maine Real Estate Info

Daily Real Estate News  |  November 29, 2007Year-Over-Year Foreclosure Filings Double
U.S. foreclosure filings were up 94 percent in October compared with the same month the previous year, according to RealtyTrac, which tracks and sells foreclosures.

The U.S. had one foreclosure filing for every 555 households in October, RealtyTrac said.

Foreclosure filings were up in 45 states, year over year, but the filings have declined slightly since they hit a high in August.

The states with the highest foreclosure filing rates in the country last month were in order from the highest: Nevada, California, Florida, Ohio, Georgia, Michigan, Colorado, Arizona, Indiana and Illinois.

Source: The Associated Press, Alex Veiga (11/29/2007)

In a press release to the media today, MREIS reports a 1.95% decrease in median sales prices and 12.23% decrease in unit sales for homes statewide in Maine comparing October 2007 to October 2006.  The median sales price was $188,500 in October, down from $192,250 one year ago.  Median sales price indicates half of the homes were sold for more and half sold for less.  NAR reports national sales of single-family existing homes dropped 20.8% in October.  The national median existing single-family home price decreased 6.3% in one year to $205,700.  In the regional Northeast, sales were down 12.6 percent; and the regional median sales price rose 1.3% in October to $258,700.

In Androscoggin County where unit sales are down 22.56% in 2007 verses same time period in 2006, however, the median sales price is up 1.66% during the same time frame.