Rolling Quarter Stats - Maine Real Estate

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FOR IMMEDIATE RELEASE




CONTACTS: Listed Below
Maine Real Estate More Affordable
SOUTH PORTLAND (October 27, 2008) - Maine’s median sales price for a single-family existing
home was $177,750 in September 2008, down 6.45 percent from one year ago. The median sales price
indicates that half of the homes were sold for more and half sold for less.
According to the Maine Real Estate Information System, Inc., statewide sales dipped 9.73 percent.
Realtors reported that 928 homes changed hands during the month, compared to September 2007’s
statistic of 1,028 homes.
Across the United States, single-family existing home sales were up 3.8 percent in September. The
National Association of Realtors reported a national median sales price of $190,600 represents an 8.6
percent decline over the past 12 months.
Regionally, sales in the Northeast were 7.7 percent lower than a year ago. The regional median sales
price was $246,800—a decrease of 5.4 percent.
Jim Fitzgerald of Coldwell Banker Residential Brokerage in Kennebunk says, “Having a Realtor is
essential in this market. Understanding the immediate past performance of the market and
determining the level of pricing aggressiveness that’s required to move the property are best
developed using an experienced Realtor—one who is currently in the trenches, dealing with the
realities of this market on a daily basis.”
For those looking to buy, Fitzgerald adds, “There is enormous potential to secure property at reduced
prices, using rates that remain close to historic lows. Half of our closings remain second homes, which
tells me that people are looking for a special place, like Coastal Maine, to bring their families. Quality
of life still ranks very high on people’s wish list when it comes to securing their next home in Maine.”
Below are two charts showing statistics for Maine and its 16 counties. The first chart lists statistics for
the month of September only, statewide. The second chart compares the number of existing, singlefamily
homes sold (units) and volume (MSP) during the months of July, August and September of
2007 and 2008.
(Continued)
Maine Real Estate Statistics –September 2008 Housing Report—10/27/08—Page 2 of 2
SEPTEMBER ONLY CHART
From September 1-30, 2007 and September 1-30, 2008
County # Units Sold # Units Sold % MSP MSP %
2007 2008 Change 2007 2008 Change
STATEWIDE 1028 928 -9.73% $190,000 $177,750 -6.45%
ROLLING QUARTER CHART
From July 1, 2007 – September 30, 2007 and July 1, 2008 – September 30, 2008
County # Units Sold # Units Sold % MSP MSP %
2007 2008 Change 2007 2008 Change
STATEWIDE 3700 2915 -21.22% $195,000 $182,500 -6.41%
Androscoggin 251 197 -21.51% $165,000 $145,000 -12.12%
Aroostook 118 95 -19.49% $77,175 $100,000 29.58%
Cumberland 876 709 -19.06% $255,000 $238,825 -6.34%
Franklin 101 75 -25.74% $142,000 $125,000 -11.97%
Hancock 171 117 -31.58% $192,000 $235,000 22.40%
Kennebec 334 315 -5.69% $155,950 $141,500 -9.27%
Knox 157 83 -47.13% $208,000 $192,000 -7.69%
Lincoln 127 88 -30.71% $239,000 $189,750 -20.61%
Oxford 178 118 -33.71% $145,750 $138,950 -4.67%
Penobscot 400 317 -20.75% $145,000 $141,000 -2.76%
Piscataquis 69 47 -31.88% $120,000 $108,000 -10.00%
Sagadahoc 114 71 -37.72% $211,600 $180,000 -14.93%
Somerset 92 100 8.70% $120,000 $125,000 4.17%
Waldo 118 79 -33.05% $185,000 $159,000 -14.05%
Washington 13 17 30.77% $110,000 $77,000 -30.00%
York 581 487 -16.18% $238,000 $224,900 -5.50%
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 5,200 licensees inputting active and sold property listing data. Statistics reflect properties reported as
sold in the System within the time periods indicated
Contacts:
Marie Flaherty, President, MREIS (Prudential Northeast Properties, Westbrook) – (207) 797-8585 – marie@tfre.com
Marc Chadbourne, Past President, MREIS (Century 21 Nason, Winslow) - (207) 873-2119 – info@marcchadbourne.com
Kevin Robert, Past President, MREIS (Coldwell Banker Residential Brokerage, Saco) – (207) 282-5988 – Kevin.Robert@nemoves.com
For additional names – MREIS – (207) 780-1366; help@mreis.com
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