Actual Press Release RE: Real Estate Sales Maine

Here is the actual MREIS Press Release regarding October figures in Maine. I apologize that the format won't translate well. Please note how some counties are doing well! Even though the number of sales are down, some counties show very little reduction in median price or even an increase. I think this means that the serious, well qualified buyers are out there. I know the smart ones are!!

Thanks to MREIS for the press release. I wish the press would publish it!! Cat :)




FOR IMMEDIATE RELEASE
CONTACTS: Listed Below
MAINE REAL ESTATE MEDIAN PRICES DIP 1.95 PERCENT INOCTOBER; SALES DOWN 12.23 PERCENT

SOUTH PORTLAND (November 29, 2007) -- Sales of Maine real estate continued to drop in
October 2007, while prices for single-family, existing homes dipped a slight 1.95 percent.
According to the Maine Real Estate Information System, Inc., Realtors reported 1,041 sales
across Maine last month. This is down 12.23 percent compared to 1,186 sales during the
month of October 2006.

The median sales price for a single-family existing home was $188,500 in October, down
slightly from $192,250 one year ago. The median sales price indicates that half of the homes
were sold for more and half sold for less.

The National Association of Realtors (NAR) today reported that national sales of singlefamily
existing homes dropped 20.8 percent in October. The national median existing singlefamily
home price decreased 6.3 percent in one year to $205,700.

In the regional Northeast, sales were down 12.6 percent. However, NAR said the regional
median sales price rose 1.3 percent in October to $258,700.

Buyers want to know: Is this the time to buy? Tobin Malone, owner of WaterMark in
Rockport says "Anybody with a strong credit history who can put some cash together for a
down payment should be buying real estate right now--land, rental income property, a larger
or smaller or newer or second home, you name it. These buying opportunities don't come
around every day, but when they do you can't ‘hem and haw’ and drag your feet. The way to
build equity in today's market is to buy, and with the help of a knowledgeable REALTOR, buy
right."

Jeff Wooster, CCIM of Lynam Real Estate Agency in Bar Harbor, says of sellers, "Most can't
understand what happened to the strong market and why they can't get what their neighbor
got for their property two years ago. It's market shock. We show them what their competition
is, suggest pricing in the lower strata, and advise them to be ready to negotiate if they
want to sell."
Malone looks to the future: "There seems to be a new spirit of realistic, controlled, and
sustainable growth that the markets (and the country) seem ready to embrace."

Below are two charts showing statistics for Maine and its 16 counties. The first chart lists
statistics for the month of October only, statewide. The second chart compares the number of
existing, single-family homes sold (units) and volume (MSP) during the months of August,
September and October of 2006 and 2007.

(Continued)
Maine Real Estate Statistics –October 2007 Housing Report—11/29/07—Page 2 of 2
OCTOBER ONLY CHART
From October 1-31, 2006 and October 1-31, 2007

County # Units Sold # Units Sold % MSP MSP % 2006 2007 Change 2006 2007 Change
STATEWIDE 1186 1041 -12.23% $192,250 $188,500 -1.95%
ROLLING QUARTER CHART
From August 1, 2006 - October 31, 2006 and August 1, 2007 - October 31, 2007
County # Units Sold # Units Sold % MSP MSP %2006 2007 Change 2006 2007 Change
STATEWIDE 3746 3494 -6.73% $194,000 $191,200 -1.44%
Androscoggin 297 230 -22.56% $160,000 $162,650 1.66%
Aroostook 124 115 -7.26% $84,725 $80,000 -5.58%
Cumberland 850 792 -6.82% $255,000 $254,943 -0.02%
Franklin 101 104 2.97% $130,000 $141,000 8.46%
Hancock 164 160 -2.44% $197,500 $200,000 1.27%
Kennebec 371 311 -16.17% $144,900 $155,000 6.97%
Knox 121 140 15.70% $214,000 $204,031 -4.66%
Lincoln 130 130 0.00% $270,950 $237,500 -12.35%
Oxford 198 170 -14.14% $157,000 $143,750 -8.44%
Penobscot 388 373 -3.87% $142,600 $140,000 -1.82%
Piscataquis 74 68 -8.11% $120,000 $128,500 7.08%
Sagadahoc 96 107 11.46% $200,000 $189,000 -5.50%
Somerset 112 106 -5.36% $110,850 $120,000 8.25%
Waldo 117 124 5.98% $165,000 $204,250 23.79%
Washington 19 14 -26.32% $92,500 $110,000 18.92%
York 584 550 -5.82% $240,000 $239,950 -0.02%
Source: Maine Real Estate Information System, Inc. Note: MREIS, a subsidiary of the Maine Association of REALTORS, is a
statewide Multiple Listing Service with over 5,800 licensees inputting active and sold property listing data. Statistics reflect
properties reported as sold in the System within the time periods indicated.
Contacts: Marc Chadbourne, President, MREIS (Century 21 Nason, Winslow) - (207) 873-2119 –
info@marcchadbourne.com; Sue Doughty, Past President, MREIS (Homestead Realty, Winthrop) – (207) 377-
2223 – suedoughty@fairpoint.net; Kevin Robert, Past President, MREIS (Coldwell Banker Residential
Brokerage, Saco) – (207) 282-5988 – Kevin.Robert@nemoves.com. For additional names – Ken Duke (MREIS)
– (207) 780-1366; kduke@mreis.com
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