Tuesday, May 24, 2011

Westbrook Maine Housing Report for May 2011

In the Westbrook Maine real estate market during the month of April, volume decreased 31% compared with April 2010, and 21% monthly. This illustrates that 11 residential properties sold at a median price point of 134K after sitting on the market for 162 days. The median sales price was down 27% compared with a year prior and 10% month over month. The Westbrook ME residential market volume has been lower than typical, but more cautious buyers in the marketplace and the comparative difference introduced to last year’s marketplace with the first time home buyer credit which bolstered the market can account for some of this difference. Inventory is increasing for the month of May.

This report was compiled by John Herrigel, a local Maine real estate broker with Green Tree Realty. For more information on southern and coastal Maine real estate markets please contact me directly at 207-650-5383 or via email at johnherrigel@gmail.com. To find out more about Westbrook, visit the Westbrook Maine website for information about local happenings and community development.

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