October 2010- Falmouth Maine Real Estate Update!

In October, 2010 the Real Estate Market of Falmouth, ME saw 6 residential sale transactions take place. These 6 homes sales unfortunately reflect a 70% decrease from October 2009 and a 57% decrease from September 2010. The homes for sale in Falmouth, Maine had a median days on the market prior to selling of 111 in October. This reflects a 79% increase from a year ago and a significant 42% increase from this past September. One reason for the low numbers reported in October is the median selling price. The Falmouth Maine Real Estate Market had an average sales price of 391K, an increase of 40% from last year and an increase of 19% from the month of September. This may be a sign that the greater Portland Maine Real Estate Market has not stabilized enough to start raising prices.

To request customized real estate listings of Falmouth Maine Real or to gain additional market information please contact John Herrigel with Green Tree Realty at johnherrigel@gmail.com or through MyMaineProperty.com.

South Portland Real Estate Market Update - October

The South Portland Maine Real Estate Market had 15 home sale transactions take place last month in October. These sales had an average price of 180K with a median days on market of 19. This average 19 days on the market reflects a 46% decrease from September and a 34% decrease from last October. October 2010 was a very successful month for South Portland Homes for Sale. South Portland Maine had more sales then Cape Elizabeth, Falmouth and Freeport put together for this past month. The average sales price of October represents that the there may be a stabilizing in the South Portland Maine Real Estate Market. This median sales price for South Portland Maine down a small 3% from September of this year.

For more info on the Greater Portland Maine real estate listings please contact John Herrigel at 207-650-5383 or via email at john@greentreemaine.com

Portland Maine Condos October 2010 Market Update

The past month of October was not a very exciting one for the Condo Real Estate Market in Portland Maine. 8 condo sales took place with a 165K median price. Not only is this quite a low number it pales in comparison to the Portland Maine Home sales. Portland saw 26 homes sell in October, over three times the number of Portland Maine Condos. October Portland Maine Real Estate Market numbers also reflect condos are moving much slower on the market then homes, at this time Condos for Sale in Portland Maine have a median of 117 days on the market while Portland homes had a median of 65. One could take a look at these numbers and come to a conclusion that perhaps Portland Maine needs to offer its buyers more Condos for sale? This question is currently being discussed with the town of Portland. You can view a current article on this subject matter at the Portland Press Herald.

For more info on the local Portland Maine condo real estate markets please contact John Herrigel at 207-650-5383 or via email at john@greentreemaine.com

Market Update for Portland Maine Homes for Sale

In October there were 462 condos and homes for sale in Portland, ME. 34 condos and homes sold in the month of October. These sale numbers show a 15% decline from last month's sales in and a 31% decline from last year's sales in the Portland Maine Real Estate Market. Taking a closer look at the pricing this past month, the median prices of homes and condos surprisingly rose 5% compared to last October; This increase can possibly reflect a lower number of first time home buyers in the Portland Maine area at lower pice points. In addition, the Portland Maine Real Estate market showed that the average home sat on the market for 83 days in the month of Ocotober, a 57% increase from last year and an even larger 66% increase from last month. Could this be a sign that prices may need to be lowered? It will be intriguing to see what the market does in the month of November.

I hope you enjoyed reading this month's market report update. For more information please visit my websitewww.mymaineproperty.com or contact me directly at 207-650-5383 or john@greentreemaine.com.

Southern Maine Housing Market Update - October 2010

Having just run a leg of a 4 person relay race at the Maine Marathon, what better way to recover than to blog about the Southern Maine real estate markets! :) After a very slow beginning to the Fall season, it seems buyer traffic has picked up a bit as my phone has been ringing and a few more leads via the internet have come in.

From a pure statistical standpoint..median prices have risen in all the counties I follow including Cumberland, home to Cape Elizabeth and Portland, Sagadahoc, home to Bath, York to the south and Lincoln in the mid coast. Southern regions continue to see better volume overall, but all 4 counties have seen volume decreases since July and the start of the summer, largely due to falling first time home buyer demand.

Going forward I am optimistic the residential housing markets in Maine will continue to stabilize, volume will remain down historically and prices will not decrease further.

Thanks for reading!

Below is a great search function as well to search for all homes for sale in Maine with a great graphical interface and intuitive navigation.

South Portland Maine August 2010 Housing Report

The month of August saw 28 residential properties sell at a median price point of 198K in South Portland Maine. This represents a 15% volume increase from the 18 that sold in August 2009 and an increase of 16% in prices. Both the days on market and inventory levels in August held relatively steady in South Portland as well. Overall the market fared much better in August than Portland which saw a 2% decrease in volume in the month of August.

For more information on southern Maine real estate please visit www.mymaineproperty.com or feel free to contact me directly at 207-650-5383 or via email at john@greentreemaine.com

Bath Maine Housing Report August 2010

The residential real estate markets of Bath Maine saw 4 transactions take place at a median sold price of 105K after sitting on the market for 86 days in August 2010. This represents a volume and pricing decrease over August 2009 of 50% and 30% respectively. Like most regions in mid coastal Maine.. the markets were slow throughout the summer months.

Thanks for reading about the mid coastal Maine real estate markets. My name is John Herrigel and I am a local real estate agent with Green Tree Realty. Feel free to contact me directly at 207-650-5383 or via email at john@greentreemaine.com for more information and specific listings.