MAINE HOME SALES UP 7.56 PERCENT IN SEPTEMBER SOUTH PORTLAND (October 20, 2011) — Maine real estate sales continue to climb: Single-family existing home sales increased 7.56 percent comparing September 2011 to September 2010. According to the Maine Real Estate Information System, Inc. (MREIS), Realtors report 967 sales across Maine's 16 counties. The statewide median sales price (MSP) decreased 6.42 percent to $159,000 in that same time period. The MSP indicates that half of the homes were sold for more and half sold for less. Nationally, single-family existing home sales rose 12.2 percent over the past 12 months. The National Association of Realtors (NAR) reported a national median sales price of $165,600 - a decrease of 3.9 percent. In the regional Northeast sales were up 6.8 percent, while the regional MSP decreased 3.3 percent to $229,400. Mike LePage of RE/MAX Heritage in Yarmouth relays, "Despite continued downward pressure from short sales and foreclosures, the Maine real estate market has weathered the storm in the third quarter this year. The numbers are up significantly from last year and, although a bit premature for a major celebration, we are pleased with a 14.87 increase in unit sales over the last year. The statewide median sales price continues to show signs of stabilization." LePage continues, "First time home buyers have been taking advantage of the lowest prices in years combined with the best interest rate environment anyone can remember. The high end has also seen improvement. Cash buyers have found value in the more expensive properties and the results reflect that. The tougher market in the near term has been the middle market, due in part to buyers needing to sell their homes in order to purchase a new one. I think that one fact has put a damper on the very real demand that exists in the middle market." However in Androscoggin County things are a little different. Sales are up 11% from the third quarter of 2010 but SALE PRICES have gone down 7.67%, from $139,450 to $128,750, from last year at this time. I believe that is why sales are up because prices are finally where they should be. Interest rates are at their all time low and this is definitely the time to buy. Please call me at 207-754-3310 should you have ANY questions on the listing or buying process...as my motto says" When it comes to Real Estate, I WORK for you". I am here to help..... Notes: Information taken from the Maine Real Estate Statistics-Sept 2011 Housing Report-10/20/11
Should you have any questions on these statistics and you want more information on the Androscoggin county market please call me at 207-795-9652
ZIP Code: 04240 Location Characteristics: Located on the banks of the Androscoggin River, Lewiston and neighboring Auburn from the business and cultural Center of Androscoggin County. With numerous world-class health care providers, manfactures, printers, and telecommunications companies, Lewiston is enjoying an econmic renaissance. Lewiston is the home of world-renowned Bates College and provides a choise of five other colleges in the vicinity. With it's own theaters,several nearby golf courses,and the largest bird sanctuary in New England, Lewiston has much to offer for rest and relaxation. As for culture, Lewiston was named one of America's 100 best small arts communities, with live theatre, concerts, and art exhibits. Lewiston's vitality and cultural richness are reasons the area was selected as the national headquarters of the Forum Francophone des Affaires, an international trade group of French-speaking nations. Square Miles..........34.8 Population.............35,690
