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Maine Real Estate Market Report: 2nd quarter 2008

By
Real Estate Agent with The Maine Real Estate Network

Here are the latest statistics for our Real Estate Market.

Please feel free to contact us if you have any questions or concerns, or would like to a free current market evaluation for your property.

The Tanya Busch Team,  Keller Williams Realty Mid Maine

207-689-9880    info@TanyaB.com    www.TanyaB.com

34 Center Street   Auburn, ME 04210

ROLLING QUARTER CHART

From March 1, 2007 - May 31, 2007 and March 1, 2008 - May 31, 2008

County                # Units Sold   # Units Sold                               MSP               MSP              %

                            2007                  2008             Chg                   2007              2008           Chg

 STATEWIDE          2935              2327              -20.72%             $195,000       $182,500        -6.41%

 Androscoggin         232                168              -27.59%              $161,750        $149,750       -7.42%

 Aroostook               82                  64                -21.95%              $83,185          $89,250         7.29%

 Cumberland           779                602              -22.72%              $245,500       $233,688       -4.81%

 Franklin                  58                  42                -27.59%              $124,950        $136,000      8.84%

 Hancock                 116                81                -30.17%              $212,750        $178,500      -16.10%

 Kennebec                261                207              -20.69%             $146,000       $143,500      -1.71%

 Knox                       99                  92                -7.07%               $225,000       $186,000      -17.33%

 Lincoln                   80                  71                -11.25%              $239,100        $190,000      -20.54%

 Oxford                    128                102              -20.31%              $135,000        $150,500      11.48%

 Penobscot               303                275              -9.24%               $146,500        $136,300       -6.96%

 Piscataquis             36                  27                -25.00%             $90,798          $75,000        -17.40%

 Sagadahoc              80                  64                -20.00%             $210,000       $189,500       -9.76%

 Somerset                 85                  72                -15.29%              $109,900        $95,500      -13.10%

 Waldo                     73                  65                -10.96%              $146,200        $160,000      9.44%

 Washington            18                  12                -33.33%              $90,990          $137,500       51.12%

 York                        505                383              -24.16%              $230,500       $225,000      -2.39%

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 5,800 licensees inputting active and sold property listing data. Statistics reflect properties reported as sold in the System within the time periods indicated.

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Tanya Busch                     Search 1000's of Maine Homes For Sale Here

The Tanya Busch Team

The Maine Real Estate Network

(207)689-9880

www.TanyaB.com

John Herrigel
The Herrigel-Kennedy Group - Portside Real Estate - Portland, ME
Portland, ME - Real Estate

Where do you see the next quarter taking us Tanya? 

Jul 08, 2008 03:04 AM
Tanya Busch
The Maine Real Estate Network - Auburn, ME
Maine Real Estate

John - I'd have to say the next quarter should be stable or slightly up in my opinion - at least in Central & Western Maine.  In just the last 3 weeks, we have gone from very few inquiries to multiple offer situations.  Buyers are finally buying.  Last year, many buyers seemed quite hesitant to buy, wondering if values would go down further.  Currently we are seeing sellers who are more realistic about pricing and more buyers ready, willing, and able to buy.  We have also seen a decrease in the number of buyers trying to "steal" a home and only making low-ball offers.  How about in your area?  Are you seeing the same things?

Jul 08, 2008 07:55 AM