Housing Report for Condos in Portland Maine August 2011

The real estate market for condos in Portland ME has seen a decrease in inventory sold from July of 2010 to July 2011. In July 2011 a total of 17 condos were sold. This was a 29% drop in the number of condos sold year over year, but there was a month over month increase of 21%. Median price has climbed 2% year over year to 204K in July 2011. Stable markets in southern ME led by lower interest rates make Portland an excellent place to relocate.

If you are thinking about relocating to Portland, one neighborhood to consider in your condo search is Portland’s East End area. The East End, also known as Munjoy Hill, is a stylish neighborhood close to downtown with some great luxury condos for sale.

This housing report has been compiled by John Herrigel, a Maine broker with MyMaineProperty.com - the Herrigel Group. For more information about the Portland Maine condo market contact John directly by phone at 207-650-5383 or by email at johnherrigel@gmail.com

Westbrook Maine August 2011 Housing Update

The market for homes in Westbrook ME has seen a decrease in inventory on the market year over year. In July 2010, a total of 154 homes were on the market, while in July 2011 just 102 homes were on the market. There was a 29% decrease in homes sold year over year, with 12 transactions in July 2011. Median price has risen 43% year over year to 221K in July 2011. Stable markets in southern Maine led by lower interest rates make Westbrook a great place to relocate.

This housing report has been compiled by John Herrigel, a southern Maine broker with the Herrigel Group - specializing in homes for sale in southern and coastal ME. For more info about Westbrook Maine homes for sale visit www.MyMaineProperty.com or contact John directly by phone at 207-650-5383 or by email johnherrigel@gmail.com

2nd Quarter 2011 Yarmouth Maine Housing Update

The housing market in Yarmouth, ME has increased in median price to 299K for an 18% gain in the 2nd quarter of 2011 compared to 2010 numbers. Although 38 homes were sold in the second quarter last year, just 24 homes sold this quarter so transaction volume decreased by 37%. The number of homes that have sold has been lower this quarter, but this reflects the success of last year’s tax credit program for home buyers – transaction volumes are more similar to 2009.

To learn more about Yarmouth, ME visit the Merrill Memorial Library. The town library is a great place to start your research on what makes any town unique, and the Yarmouth library offers many interesting resources.

This quarterly housing report about Yarmouth, ME has been compiled by John Herrigel a local Maine broker with the Herrigel Group – MyMaineProperty.com. To learn more about Yarmouth Maine homes for sale, contact John Herrigel directly at 207-650-5383 or via email at johnherrigel@gmail.com

Westbrook Maine 2nd Quarter 2011 Housing Update

For the second quarter of 2011 the residential home market of Westbrook Maine has seen a 47% decrease in transaction volume. 31 homes sold this quarter in Westbrook compared to the 58 a year prior in the 2^nd quarter. This decrease can largely be accounted for by last year’s tax credits for home buyers. Since the 2^nd quarter of 2010, Westbrook home prices have decreased by 15%, to an average of 154K.

There is plenty going on this summer in Westbrook. The Westbrook Community Center hosts programs for children and adults alike. Adult health and fitness classes even include a Zumba® class for a cardio workout with Latin rhythms. Drop-ins are welcome, so check out the Westbrook Community Center.

This housing report was compiled by John Herrigel with MyMaineProperty.com – for Westbrook homes and residential real estate through coastal and southern Maine. To learn more about Westbrook real estate, contact John Herrigel directly at 207-650-5383 or via email at johnherrigel@gmail.com

2nd Quarter 2011 Housing Update for Cape Elizabeth ME

The residential real estate market for Cape Elizabeth Maine has seen a decrease in transaction volume in the second quarter of 2011. Cape Elizabeth sales transactions are down 12% from their 2010 2^nd quarter level with just 38 homes sold this quarter. The difference can largely be accounted for by the 2010 tax credits for home buyers which enticed many people to buy, artificially inflating numbers for the year. Cape Elizabeth home prices have risen by 20%, up to an average of 411K this year since the 2^nd quarter of 2010.

What makes Cape Elizabeth Maine a great town to own a home? From a selection of comfortable and luxury homes, to a relaxing family picnic at Fort Williams Park, Cape Elizabeth neighborhoods are wonderful places to base a joyful home. Learn more about the Oakhurst neighborhood of Cape Elizabeth, ME.

This housing report was compiled by John Herrigel with Green Tree Realty about Cape Elizabeth homes and residential real estate through southern Maine. For more information about Cape Elizabeth ME real estate, contact John Herrigel directly at 207-650-5383 or via email at johnherrigel@gmail.com

Bath ME June 2011 Residential Real Estate Report

Bath has seen a significant increase in residential real estate inventory this month like many towns on the coast of Maine. 89 homes in Bath were up for sale in May 2011, but starting the beginning of June 106 homes are now available. In May 2011, 9 homes were sold. This reflects a 36% decrease for the year, but an 80% increase month over month. Lower sales may still reflect the residual effects of last year’s tax credit program, but there is overall improvement. The average number days a home will remain on the market were 41 for April of this year, and 40 for this month so this reflects little change.

To learn more about Bath visit the Maine Maritime Museum. If you are interested in more information on housing in coastal and southern Maine visit www.mymaineproperty.com or contact John Herrigel directly at 207-650-5383 or johnherrigel@gmail.com

Portland Maine June 2011 Housing Update for Condos

A total of 21 condos were sold in Portland Maine during the month of May 2011. With 31 condos selling in Portland in May 2010, sales have decreased by 32% since last year. However, by month, the sales volume has increased dramatically, as only 10 condos were sold in Portland in April of this year! This indicates that last year’s first time home buyer’s tax credit may have artificially boosted sales, and these have returned to a more realistic pattern. With 161 condos for sale for the month of June inventory is up from 155 a month earlier. Average price remains stable at about 215K.

Activities like community gardening can provide an enjoyable way to get to know your neighbors and enjoy Portland’s common green spaces. With so much to offer, a condo can be a great housing option in Portland Maine, close to amenities and conveniences with many opportunities for community involvement.

For more information on Portland ME condos please reach out directly. My name is John Herrigel and I am a local Maine broker with the Herrigel Group and can be reached at 207-650-5383 or via email at johnherrigel@gmail.com