At our website - MaineHomeConnection - we just updated our 2008 homes sales statistics through the first three quarters of 2008. Sales results are available for York and Cumberland Counties in total, as well as selected individual cities and towns. Details are available at the link Home Sales and individual City pages.
Although unit sales for both single-family homes and condos are down in virtually every town, pricing has not experienced the same dramatic decreases, which is encouraging for sellers.
For the month of September the median sales price for a single-family existing home was $177,750, down 6.5% from one year ago. Unit sales were down 9.7% compared to the same period of 2007.
Nationally, some good news was achieved in home sales as unit sales were up 3.8% in September. The National Association of Realtors also reported a national median sales price of $190,600, which represents an 8.6% decline over the past 12 months. Regionally, sales in the Northeast were 7.7% lower than a year ago. The regional median sales price was $246,800-a decrease of 5.4%.
The latest Case Shiller housing numbers are also out, updated through July 2008. The numbers continue to improve slightly, at least the rate of housing price declines is slowing. It's interesting to see Tampa, one of the hardest hit markets, show no change in prices in the latest report. And you'd never guess from Charlotte's consistent position as the least effected housing market that it's a center for banking and finance. The monthly readings provided by Case Shiller are a smoothed three month moving average. For more on what the Case Shiller index is, visit our recent newsletter or the article Case Shiller on our website.