Archive for August 26th, 2008

Maine Real Estate - Highest Percentage of Foriegn-Owned Agricultural Land

Tuesday, August 26th, 2008

Maine has a higher percentage of foreign-owned agricultural land than any other state in the country, as well as 16% of all foreign-held agricultural land in the country, according to new data from the U.S. Department of Agriculture. The majority of the foreign-held agricultural land in Maine consists of forest and timberland totaling 3,270,362 acres.

Here’s a list of the 10 states with the highest proportion of foreign-held agricultural land to privately-held agricultural land as of February 28, 2007.

 

State

Privately held agricultural land (acres)

Foreign held agricultural land (acres)

% foreign held

Maine

17,955,835

3,323,846

18.5%

Hawaii

1,803,038

168,008

9.3%

Alabama

28,760,792

1,710,681

5.9%

Washington

22,014,053

1,266,103

5.8%

Georgia

30,823,101

1,620,304

5.3%

Louisiana

23,870,712

1,242,078

5.2%

Nevada

9,753,158

504,823

5.2%

Florida

21,849,568

1,000,207

4.6%

Michigan

24,098,445

761,808

3.2%

Arizona

7,833,746

246,710

3.1%

Source: U.S. Department of Agriculture’s Farm Service Agency

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Maine Real Estate July 2008 Home Sales

Tuesday, August 26th, 2008

In a press release to the media today, MREIS reports sales of single-family existing homes in Maine slowed by 17.24% last month — 1,032 in July 2008, down from 1,247 homes sold in July of 2007. The statewide median sales price dipped 3.52% to $192,000 in July. The median sales price indicates that half of the homes were sold for more and half sold for less.  Real estate sales across the country were down 12.4%.  Statistics released by NAR indicate a national median sales price of $210,900 - a decrease of 7.7% over the past 12 months.  NAR reported a regional sales decrease of 11.8% for the Northeast.  The regional median sales price was down 4.9% to $278,700.  The complete press release is posted at mainerealtors.com

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