The following information comes from Maine Real Estate Information Systems, Inc.(MREIS), a subsidiary of the Maine Association or Realtos. MREIS is a statewide Multiple Listing Service with over 5,800 licensees imputting active and sold property listing data.
Median Sales prices for single-family existing homes in Maine edged upward in November while sales of those homes were down over 10 percent. According to MREIS, 891 homes sold during the month of November 2007, a decrease of 10.63 percent from November 2006.
Statewide, median sale prices rose 1.62 percent. Maine’s median existing single-family home price reached $188,000 last month, up from $185,000 last year. The median sales price indicates that half of the homes were sold for more and half sold for less.
The National Association of Realtors reported that across the country, single-family home sales decreased 19.9 percent in the past 12 months. The national median existing sales price dipped 3.7 percent to $208,700.
Regionally, sales in the Northeastern United States mirrored national statistics with a 19.4 percent drop in sales. NAR said prices are also down regionally: The median sales price in the Northeast decreased 3.2 percent to $258,300.
The winter season has ushered in positive sales for some resort areas. The Bethel/Sunday River market has seen steady sales throughout November. The early season snow and the recent sale of Sunday River Ski Resort have been positive influences on that market which consits primarily of second homes.
Here are the Home Sale Stats for Cumberland County:
Units sold from September 1-November 30 2006: 760 Units
Units sold from September 1-November 30 2007: 642 Units
Thats a change of -15.54%
The Median Sales price for Cumberland County between September 1-November 30 2006 was $258,500
The Median Sales price for Cumberland County between September 1-November 30 in 2007 was $249,950
Thats a change of 3.31%.
