Doing my regular montly research on the 4 southern Maine counties that I follow I was quite alarmed at the transaction level seen this past May vs a year ago. Combining the total transactions for the 4 counties of Cumberland, York, Sagadahoc and Lincoln, the level of total sold transactions was down 18%. I then analyzed each month since January to see what the levels were at, the average reduction was 10% and thus this May was almost double the recent norm. What does this mean for Maine? The average prices continue to rise yet the inventory levels and Days on Market are really getting to alarming levels in my mind giving me a very uneasy feeling for the short term future outlook on Maine. You can see all the housing stats I compilied right here or if you were interested in getting onto my mailing list to receive the monthly stats I do, click here, (sorry for the self promotion :) )
2007 Month by Month Transaction Levels for Cumberland, York, Sagadahoc and Lincoln Counties
| 2007 | 2006 | % of level |
Jan | 407 | 422 | 96% |
Feb | 438 | 454 | 96% |
March | 533 | 623 | 86% |
April | 619 | 654 | 95% |
May | 672 | 816 | 82% |
| 2669 | 2969 | 90% |
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