May 19, 2012

Real Estate in Portland Maine-Market Update for Dec. 2, 2011

Link to the Greater Portland Maine real estate update for December 2nd, 2011.

November 2011 has shown 202 single family home sales in Cumberland County, Maine.  This is up from 191 for the same period in 2010.  The median sales price for 2011 is $216,000, which is down from $225,000 for November of 2010.

The length of time single family homes are on the market is up for November 2011 to 94 days on the market.  The average days on market for November 2010 was 66.

A recognized leader, Derrick Buckspan is a local Realtor with RE/MAX By The Bay, the top agency in the State of Maine by sales volume.  We are located on Portland’s Back Cove at 970 Baxter Boulevard.

Recognized throughout Southern Maine communities, we are committed to providing service through a consultation style approach based on education, analysis and representing our client’s interest.

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Portland Maine weekly Real Estate Market Update November 18th, 2011

Link to Greater Portland Maine market update.

The Cumberland County Maine residential real estate market is showing 54 new residential listings for the week of November 18th.  This is down slightly from the 60 new listings for last week.

There are 48 new pending contracts which is also down from the 55 last week, but up from the 43 and 44 contracts for the two prioc weeks.

There were 41 residential sales, down from 48 for last week.

We’ll take a break next week with the Thanksgiving holiday, but invite you to visit us this Sunday at several open houses.  Check for details. 

We’d also like to invite you to check out some unique features of an in-town Portland home.

A recognized leader, Derrick Buckspan is a local Realtor with RE/MAX By The Bay, the top agency in the State of Maine by sales volume.  We are located on Portland’s Back Cove at 970 Baxter Boulevard.

Recognized throughout Southern Maine communities, we are committed to providing service through a consultation style approach based on education, analysis and representing our client’s interest.

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Greater Portland Maine real estate market update week of November 11, 2011

Link to Greater Portland Maine real estate market report.

This week, the Greater Portland Maine real estate market had 60 new properties hit the market with an average list price of $289,407.  This number is consistent with the new listings for the last three weeks.

Pending activity is showing 55 homes and condo’s that went under contract.  This is up from 43 properties for last week.

Closed activity is showing 48 properties that have sold.  This is down from the end of month week last week (85 sold homes).  However, it is consistent with the last two weeks in October which had 48 properties selling per week.

The increase in pending activity is a positive indicator for the close out of the fall market which will occur over the next 45 days.

We’d like to invite you to check out some unique features of an in-town Portland home.

A recognized leader, Derrick Buckspan is a local Realtor with RE/MAX By The Bay, the top agency in the State of Maine by sales volume.  We are located on Portland’s Back Cove at 970 Baxter Boulevard.

Recognized throughout Southern Maine communities, we are committed to providing service through a consultation style approach based on education, analysis and representing our client’s interest.

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Greater Portland Maine Real Estate Market Update November 4th, 2011

Link to video report.

This week, the Greater Portland Maine real estate markets have had 62 new listings hit the market.  This is consistent with the 61 new listings we had last week.

Pending activity is also consistent with 43 residential properties going under agreement this week (44 for last week).

Sales activity is up with 85 properties closing this week.  This is typical to have an increase at the end of the month (up from 48 per week for the last two weeks).  However, the overall sales are down from the last week in September, which showed 117 sales.

Outlook: expect some fluctuation as we approach the Thanksgiving week.  As always, pricing and condition is crucial for sellers.  On the buy side-there will be some Fall opportunities.

We’d like to invite you to check out some unique features of an in-town Portland home.

A recognized leader, Derrick Buckspan is a local Realtor with RE/MAX By The Bay, the top agency in the State of Maine by sales volume.  We are located on Portland’s Back Cove at 970 Baxter Boulevard.

Recognized throughout Southern Maine communities, we are committed to providing service through a consultation style approach based on education, analysis and representing our client’s interest.

 

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Greater Portland Maine real estate market update week of October 28th, 2011

 

Greater Portland Maine real estate market update. Trends and outlook for the week of October 28th, 2011.

Last night, Maine experienced the first frost of the season.  For the residential real estate market in Greater Portland, Maine, there were 61 new residential listings this week.  This is down from 77 new properties on the market for last week.  Pending activity is also down with 44 contracts this week.  This is down from 70 properties going under contract last week.

There have been 48 homes sell this week, which is the same number for last week’s sales.

These numbers are consistent with the typical fall slow down.

A report from a local title attorney suggests high volume of sales this week as well as properties closing.

For a year to date update on the Greater Portland Maine real estate market or for a detailed analysis on how the values impact your home, contact Derrick Buckspan at RE/MAX By The Bay.

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Greater Portland Maine Real Estate Market Update week of October 21, 2011

Greater Portland Maine real estate market update. Trends and outlook for the week of October 21, 2011.

This week in Greater Portland Maine real estate, the market has shown 77 new residential listings.  This is up slightly from 74 last week.

There have been 70 properties that have gone under agreement, which is up from 57 for last week.

We are reporting 48 homes that have sold, which is down from 69 for last week.

View the video for more details and analysis.

For a year to date update on the Greater Portland Maine real estate market or for a detailed analysis on how the values impact your home, contact Derrick Buckspan, Broker/Realtor at RE/MAX By The Bay.

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Greater Portland Maine real estate market update week of October 7th, 2011

Greater Portland Maine real estate market update. Trends and outlook for the week of October 7, 2011. For a year to date update on the Greater Portland Maine real estate market or for a detailed analysis on how the values impact your home, contact Derrick Buckspan at RE/MAX By The Bay.

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Greater Portland Maine real estate market update week of September 16th, 2011

Greater Portland Maine real estate market update. Trends and outlook for the week of August 19, 2011. For a year to date update on the Greater Portland Maine real estate market or for a detailed analysis on how the values impact your home, contact Derrick Buckspan at RE/MAX By The Bay.

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Greater Portland Maine real estate market update week of September 9th, 2011


Greater Portland Maine real estate market update. Trends and outlook for the week of September 9th, 2011. For a year to date update on the Greater Portland Maine real estate market or for a detailed analysis on how the values impact your home, contact Derrick Buckspan at RE/MAX By The Bay.

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Greater Portland Maine Real Estate Fall Market Outlook 2011

The Greater Portland Maine real estate markets have continued along the current trend path for the summer market this year.  Based on single family home sales activity in Cumberland County, sales volume is down by 6.9% for the year to date through August 31st.  The gap in volume is slowly narrowing based on the volume in August as this number was larger at 10% at the end of July.  Sales volume year to date is showing 1685 sales, which reflects 126 fewer sales for the year compared to 2010.

Conversely, sales values have risen by a marginal 0.88%.  The average sales price for the this period in 2011 is $225,987.

Current inventory also remains affected with the number of current homes available for sale down by 5.7% to 2446 homes.

The mortgage rate environment remains extremely positive with low interest rates and expectations that rates will remain low for the immediate future.  The trend shown in the 2011 Sold Volume graph is significant in that activity has been steadily building through 2011.  This year showed the typical seasonal spike in sales volume concurrent with Maine Summer.  However, 2011 did not show the artificial drop associated with the end of the stimulus tax credit of 2010.

Given the building sales activity, low rates and modest improvement in values, we expect the fall market to continue along the current trend before the typical seasonal slow-down during winter months.  Showing activity and buyer inquiries support this outlook.

For more details or analysis on how the market has impacted your value, contact Derrick Buckspan, Broker with RE/MAX By The Bay at 207.956.0295.

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