It seems for the time being a bottom has been found in the Southern Maine real estate housing markets.  Steady as she goes the month ending October 2008 saw little change in prices from August and September.   Transaction volume remains down 10% from a year prior and average sold prices are 10-15% off last years numbers but the month over month pricing has held up well.  Additionally this past month saw a significant increase in days on market averages for 3 out of the 4 counties followed that point towards a slow road ahead. Significant decreases in inventory levels did occur as well this past month as parties will take their homes off the market for the coming winter season. For more Maine housing statistics please visit www.mainepropertyblog.com

                         # Sold                  Avg. Price Avg.              Days on Market
York                  185 (210)(-12%)     262K (286K)(-8%)        137 (152) (-10%)
Cumberland       259 (280)(-8%)       269K (312K)(-14%)      119 (91) (31%)
Sagadahoc         36 (35)(3%)           212K (236K)(-10%)      114(97) (18%)
Lincoln               32 (44)(-27%)        300K (286K) (5%)        215 (192) (12%)

 
This post has been included in Maine Real Estate News

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