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Southern Maine May 2007 Housing statistics

By
Real Estate Agent with The Herrigel-Kennedy Group - Portside Real Estate

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%

Comments (3)

Lenn Harley
Lenn Harley, Homefinders.com, MD & VA Homes and Real Estate - Leesburg, VA
Real Estate Broker - Virginia & Maryland

John

You say that the average prices continue to rise, yet. . .

Do you mean that the average LIST prices continue to rise?  Or, do the average SOLD prices continue to rise??

The answer to your question may depend.

Jun 22, 2007 01:19 AM
Paul Moye
Benchmark Realty - Franklin, TN
Broker, GRI, SRES
FYI, put your report area in your BLOG title it helps draw people to your info on the search engines.
Jun 22, 2007 01:22 AM
Anonymous
John Herrigel
Thanks for the comments Lenn and Paul, the avg sold price is what I am referring to and I just changed the title.
Jun 22, 2007 01:43 AM
#3