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Central & Southern Maine Market Update: Real Estate in Androscoggin, Cumberland, & Kennebec Counties

By
Real Estate Agent with The Maine Real Estate Network

What's Going On?  Our Local Market Overview for 2008

County

Price Range

Active

Pending

Pending/

Expired &

Sold

Inventory

Avg List

Avg Sold

List/Sale

Avg

 

 

Listings

Listings

Active

Withdrawn

Listings

Level

Price

Price

%

DOM

Androscoggin

$100-150k

250

37

15%

225

264

11.1

130,028

126,286

97%

92

Androscoggin

$151-200k

222

8

4%

256

199

13.1

176,953

169,569

96%

114

Androscoggin

$201-250k

105

13

12%

155

91

13.6

229,860

224,048

97%

152

Androscoggin

$251-300k

74

7

9%

135

43

20.2

282,228

259,661

92%

186

Androscoggin

over $301k

94

2

2%

111

32

34.5

441,139

361,327

82%

148

 

 

 

 

 

 

 

 

 

 

 

 

Cumberland

$100-150k

209

42

20%

232

278

8.8

133,617

126,725

95%

106

Cumberland

$151-200k

433

68

16%

589

712

7.1

181,091

177,272

98%

98

Cumberland

$201-250k

492

54

11%

660

701

8.2

230,437

220,925

96%

97

Cumberland

$251-300k

349

20

6%

531

401

10.2

282,149

267,077

95%

104

Cumberland

over $301k

1053

79

8%

1485

840

14.7

596,230

477,795

80%

108

 

 

 

 

 

 

 

 

 

 

 

 

Kennebec

$100-150k

280

27

10%

316

339

9.7

128,701

123,454

96%

107

Kennebec

$151-200k

234

17

7%

293

186

14.8

177,233

165,891

94%

143

Kennebec

$201-250k

178

4

2%

176

113

18.5

229,900

215,687

94%

168

Kennebec

$251-300k

101

5

5%

125

57

20.8

278,062

254,307

91%

141

Kennebec

over $301k

185

2

1%

193

61

35.6

499,775

403,035

81%

198

*Information taken from the Maine Real Estate Information System for the period of  1/1/08-12/26/08.   

Inventory Level = number of months of inventory currently available on the market based on past rate of sale.          

List/Sale % = percentage of list price obtained at the sale of the home.   

DOM = Days On Market

What Does This Mean To You?

Thinking about making a move?  It doesn't need to be a headache.  We regularly beat the local board averages.  Despite the media hype, this market can be the best time to upgrade homes because of the potential financial leverage.       Combine current market conditions with super low interest rates and an abundant selection of homes to choose from and it is a great time to buy for most people. 

If you are considering going into a less expensive home and you can wait for prices to rise again, it may be beneficial to stay put for the time being.  If you would like a consultation on your unique situation, give me a call.  I would be happy to assist you.

If you would like to continue to receive detailed market information, check out our new MLS Market Snapshot feature on our website.  You can customize a report for the area you are interested in and receive additional information previously unavailable such as days on market and sold homes.

Click Here to try it out!

The Tanya Busch Team

Keller Williams Realty Mid Maine

34 Center Street Auburn ME 04210

207-689-9880

 

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