According to a November 29, 2007 press release from Maine Real Estate Information (MREIS), for the rolling quarter, August 1, 2007 to October 31, 2007, the number of units sold dipped only 6.73% as compared to the same time frame last year ( 3746 units in 2006 compared to 3494 The median sales price dropped by a mere 1.44% ( $194,000 2006 to $191,200 2007) during the same period.
Cumberland County, Maine's largest county, saw a drop from 850 units sold to 792 units sold, but the median price dropped only 0.02% from $255,000 to $254,943 in the period August 1 to October 31.
What does this mean, you ask?? It means you are CRAZY not to buy right now. There are great deals out there. Even if you need to sell, as long as you have equity in your home and are willing to price correctly, YOUR HOUSE WILL SELL!!!
The gloom and doom of the media does NOT apply to Maine !! We never went crazy when the market boomed, and we won't crash with this healthy correction.
Welcome to Maine! It's a great place to live!!!
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