Maine Real Estate Info

In a press release to the media, MREIS reports the median home sales price in Maine dropped 7.69% in August 2008; with a statewide median sales price of $180,000 compared to $195,000 last August. The median sales price indicates that half of the homes were sold for more and half sold for less. There were 955 home sales in August 2008, down 32.98% from August 2007. Nationally, single-family home sales declined by 9.6% in August.  NAR reported a national median sales price drop of 9.7% to $201,900.

Full Report:  MAINE REAL ESTATE MEDIAN HOME PRICE DOWN IN AUGUST SOUTH PORTLAND (September 24, 2008) - The median home sales price in Maine dropped 7.69 percent in August 2008; with a statewide median sales price of $180,000 compared to $195,000 last August. The median sales price indicates that half of the homes were sold for more and half sold for less. According to the Maine Real Estate Information System, Inc., Realtors reported 955 home sales last month, down 32.98 percent from August 2007. Nationally, single-family home sales declined by 9.6 percent in August. The National Association of Realtors (NAR) reported a national median sales price drop of 9.7 percent to $201,900.
In the regional Northeast, sales decreased 15 percent from one year ago. The regional median sales price dipped 3.8 percent to $271,000. Jim Fitzgerald of Coldwell Banker Residential Brokerage in Kennebunk says the real estate rule used to be, “Location, Location, Location. Now it’s Location, Price and Condition. There are plenty of buyers out there, but the days of ‘let’s try a higher price and then we can bring it down later’ is not a strategy worthy of any consideration. Foremost in the seller’s head should be, ‘for what price will it sell, and should we put it on the market for a little less than that?’” Joan Maloney Chrane of RE/MAX Riverside in Topsham says, “Working with a Realtor gives you an advantage–they advise where to market, what incentives to offer and what is proper pricing. Realtors are also a tremendous resource for short sale and foreclosure education.” Below are two charts showing statistics for Maine and its 16 counties. The first chart lists
statistics for the month of August only, statewide. The second chart compares the number of existing, single-family homes sold (units) and volume (MSP) during the months of June, July and August of 2007 and 2008.

Maine Real Estate Statistics –August 2008 Housing Report—9/24/08—

AUGUST ONLY CHART
From August 1-31, 2007 and August 1-31, 2008
STATEWIDE:  # Units Sold 2007 (1425)  # Units Sold 2008 (955)  % Change (-32.98%)  MSP 2007 ($195,000)  MSP 2008($180,000)  % Change(-7.69%)

ROLLING QUARTER CHART
From June 1, 2007 – August 31, 2007 and June 1, 2008 – August 31, 2008
STATEWIDE: 3988 2983 -25.20% $197,714 $186,000 -5.92%
County:
Androscoggin 276 225 -18.48% $163,000 $151,000 -7.36%
Aroostook 113 96 -15.04% $86,000 $96,000 11.63%
Cumberland 991 766 -22.70% $259,000 $242,250 -6.47%
Franklin 94 64 -31.91% $141,000 $134,200 -4.82%
Hancock 156 114 -26.92% $193,750 $211,936 9.39%
Kennebec 362 288 -20.44% $152,000 $139,950 -7.93%
Knox 178 108 -39.33% $208,500 $200,000 -4.08%
Lincoln 142 78 -45.07% $217,500 $184,250 -15.29%
Oxford 169 107 -36.69% $156,000 $150,000 -3.85%
Penobscot 478 335 -29.92% $146,600 $141,000 -3.82%
Piscataquis 72 48 -33.33% $122,500 $94,000 -23.27%
Sagadahoc 120 85 -29.17% $212,250 $194,500 -8.36%
Somerset 95 100 5.26% $123,000 $123,250 0.20%
Waldo 105 68 -35.24% $163,000 $166,500 2.15%
Washington 12 17 41.67% $120,000 $135,000 12.50%
York 625 484 -22.56% $240,000 $225,000 -6.25%

Source: Maine Real Estate Information System, Inc. Note: MREIS, a subsidiary of the Maine Association of REALTORS, is a statewide Multiple Listing Service with over 5,100 licensees inputting active and sold property listing data. Statistics reflect properties reported as sold in the System within the time periods indicated.

Well it’s done and we rolled it out today! It’s a new buyer’s guide to inform Maine home buyers. We had this wonderful idea of helping Maine real estate buyers feel more comfortable and knowledgeable about the home buying process through the use of a user friendly website at http://www.HowToBuyAHomeInMaine.com

Here you won’t be in the least bit intimidated by the Maine real estate home buying process with great content like an easy to understand flow chart, link bookmarks and a glossary with definitions of real estate terms. We discuss key points needed to make informed decisions on your journey into home ownership. Whether you’re a first time home owner or an investor, you’ll see great value in these free tools, documents and information. We are here for you and want to be your REALTORS for life!

So if you are currently renting, moving to Maine or investing in Maine property, visit http://www.HowToBuyAHomeInMaine.com and you’ll soon see why the professional REALTORS at Meservier & Associates of Keller Williams Realty Mid Maine are your trusted resource to home ownership.

This Maine real estate web site is brought to you by Meservier & Associates of Keller Williams Realty Mid Maine - 34 Center Street Auburn, Maine 04210 - Office# 207-784-2525 - 43 years of combined service! Visit us online at these great sites: www.meservier.com - www.mainemls.info - www.mainerealestateexperts.com - www.MaineWaterfrontRental.com 

Sales of single-family existing homes in Maine continued to decrease in June 2008. In a press release to the Maine media, MREIS reports 996 homes sold last month, a drop of 24.32% from last June’s sales figure of 1,316 homes. During the past 12 months, Maine’s median sales price decreased nearly six percent to $188,000. The median sales price indicates that half of the homes were sold for more and half sold for less. NAR reports a nationwide sales drop of 14.8% in June. The national median existing single-family home price dropped 6.7% to $213,800.  Regionally, sales in the Northeast fell 15.8% during the past 12 months.  According to NAR, the regional median sales price decreased 12.6% to $256,700. The complete press release will be posted to the MAR site soon.

 
Sales of single-family homes in Maine were down 22% in the first six months of 2008, according to a press release from the Maine Association of Realtors.

There were 4,373 single-family homes sold in Maine during the first half of 2008, 22.4% fewer than the 5,637 sold during the first half of 2007.

The median sales price for homes sold in Maine during the first half of 2008 was $185,000, a 5% decrease from the median sales price of $195,000 during the first half of 2007. However, the median sales price actually climbed in five of Maine’s 16 counties during the first half of 2008.

Here’s a look at the 10 counties that saw the largest fluctuation in median sales price (MSP) during the first half of 2008.

 

County	MSP 2007	MSP 2008	% change
Statewide	$195,000	$185,000	-5.13%
Washington	$95,000	$136,000	43.16%
Waldo	$151,875	$165,000	8.64%
Franklin	$136,000	$140,000	2.94%
Aroostook	$89,000	$91,250	2.53%
Oxford	$148,250	$151,500	2.19%
Hancock	$212,750	$199,100	-6.42
Sagadahoc	$205,000	$190,400	-7.12%
Somerset	$107,000	$97,500	-8.88%
Knox	$220,000	$196,500	-10.68%
Piscataquis	$101,250	$88,350	-12.74%

Source: Maine Association of Realtors

Sales of single-family homes in Maine were down 12.39% comparing May 2008 to May 2007, according to a press release from the Maine Association of Realtors.

The decrease from May 2007’s sales was slightly less than the national slump of 14.5%. Regionally, home sales in the Northeast were down 15% in May.

Androscoggin County was down 27.59% in unit sales (an improvement over the 40% down range we’ve been experiencing) and sale prices were off 7.42% over the same period last year.

Median sales prices also declined across the board during the same period — by 5.7% to $182,000 in Maine, by 2.4% to $278,000 in the Northeast, and by 6.8% to $206,700 nationally. The median sales price indicates that half the homes were sold for more and half sold for less. However, during the rolling quarter sales period, which includes the months of March, April and May combined, 5 of Maine’s 16 counties experienced an increase in the median sales price.

The complete press release is posted at http://www.mainerealtors.com

In a press release to the Maine media today, MREIS reports that April home sales in

Maine picked up from March, but were still below figures from last year.

  A total of 708 homes sold in April 2008 compared with 650 in March 2008.  MREIS reports a 23.13% drop in sales of single-family existing homes comparing April 2008 to April 2007.  According to MREIS, 708 homes were sold during the month of April 2008, down from 921 homes in April of last year. The median sales price (MSP) decreased 11.34% to $178,200, down from April 2007’s MSP of $201,000. The median sales price indicates that half of the homes were sold for more and half sold for less.  The complete press release, including county level statistics for a rolling three month period, are posted at http://www.mainerealtors.com

Keller Williams Realty Mid Maine - 34 Center Street Auburn, Maine 04210. 

Sales of single-family homes fell 28% last month compared to January 2007, according to the Maine Association of Realtors. In January 2007, 688 homes were sold in Maine compared to just 495 last month. The median sales price for homes sold in January also dipped just over 2%, from $189,200 in January 2007 to $185,000 last month. The Maine Association of Realtors said in a press release that record snow fall could impact home sales.

Meanwhile, national home sales were down 22.4% from January 2007, and the median sales price for an existing single-family home dipped 5.1% to $198,700, according to the National Association of Realtors.

County Units sold
2006-07 Units sold
2007-08 % Change Statewide 2,656 2,131 -19.77% Piscataquis 71 31 -56.34% Franklin 83 46 -44.58% Washington 17 10 -41.18% Kennebec 272 186 -31.62% Cumberland 640 476 -25.63% Knox 92 70 -23.91% Lincoln 78 60 -23.08% Somerset 80 65 -18.75% Sagadahoc 66 54 -18.18% York 406 333 -17.98% Androscoggin 179 149 -16.76% Hancock 123 105 -14.63% Penobscot 290 269 -7.24% Oxford 108 108 0.00% Waldo 73 81 10.96% Aroostook 78 88 12.82%

PRESS RELEASE:  In a press release to the Maine media today, MREIS reports single-family real estate sales decreased over 28% during January 2008, compared with January 2007, with a total of 495 homes being sold. Statewide median sales prices for those homes dipped just over 2% to a median sales price of $185,000. The median sales price indicates that half of the homes were sold for more and half sold for less.  While prices decreased overall, several Maine Counties experienced double-digit price gains during the month of January. Nationwide, real estate sales were down 22.4% from January 2007.  According to NAR, the median existing single-family home price dipped 5.1% to $198,700. The Northeastern United States experienced a 25.7% regional decrease in sales.  However, NAR reported that prices rose 3.1% to $270,800 in the past year.

This is the type of information we need to know and be able to communicate with our buyers and sellers, says Paul McKee, Team Leader of Keller Williams Realty Mid Maine. The Maine real estate market is holding steady regarding prices, slightly up in 07, but the number of transactions have decreased from the previous year.  Over all, Maine is fairing much better than what you here Nationally and that message needs to made clear to our clients.  Buyers need to know that prices are actually slightly higher, so “give aways” are not happening like they think, and sellers need to know that there are far less people out there making purchases and more properties for those fewer buyers to look at, so their price and the condition of the home needs to be “in the market” to even have a chance of selling now. Keller Williams Realty Mid Maine is located at 34 Center Street in Auburn Maine and they can be reached at 207-784-2525

Read the full press release here:

MEDIA REPORT:  In a press release to the media today, MREIS reports a 10.07% decrease in home sales comparing 2007 to 2006. Maine’s median sales price reached $194,000 in 2007, up 0.77% from 2006.  Median sales price indicates half of the homes were sold for more and half sold for less. During the month of December only, the statewide median sales price decreased 4.62% and sales were down 23.27 percent. Nationally, single-family home sales declined 21.6% and sales prices dipped 6.5% in the month of December.  NAR reported for all of 2007, home sales fell 13% and median sales price decreased 1.8% to $217,800. In the Northeastern United States, sales were 22.4% lower than last December.  The regional median sales price decreased 8.9% to $258,600.  Go to:  http://www.mainerealtors.com/MaineHousingReport-December2007.pdf

MREIS PRESS RELEASE:  In a press release to the media today, MREIS reports that the number of homes sales in Maine in November dropped 10.63% comparing November 2007 to November 2006; and the median sales price increased 1.62%.   NAR reports nationwide single-family home sales decreased 19.9%; and national median existing sales price dipped 3.7% to $208,700.  Home sales in the Northeastern U.S. mirrored national statistics with a 19.4% drop in sales, with median sales decreasing 3.2% to $258,300.  The complete press release is posted at http://www.mainerealtors.com/MaineHousingReport-November2007.pdf

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.

On Tuesday, www.MaineMLS.info rolled out its new feature…a blog. Now consumers searching for real estate in Maine need not look to far for Maine information.

The site features the ability to search for more than 25,000 Maine properties, request a free market analysis, apply for a loan, view virtual tours on the featured listings page and view an interactive map of more featured properties with Trulia.

Now, with the rollout of the information blog located at www.MaineMLS.info/wordpress , buyers and sellers of Maine real estate can get full access to newsletters, tips, mortgage and loan information, Market reports, Maine Green news and agent listings, etc.

MaineMLS.info is the product of Meservier & Associates of Keller Williams Realty Mid Maine. They are one of Maine’s fastest growing real estate teams, dedicated to customer service and commited to excellence.

They are located at 34 Center street Auburn, Maine 04210. Call them at (207)784-2525 or email at mike@meservier.com

They are “Today’s Real Estate Professionals, Opening New Doors”