" " " Maine's Waterfront Real Estate News

Friday, July 22, 2016

Home Sales and Prices Rise in June



Augusta (July 21, 2016)— Home values in Maine are rising at a healthy pace, according to statistics released by the Maine Association of Realtors. Realtors across the state of Maine reported 1,960 transactions of existing, single-family homes during the month of June, leading to a sales increase of 9.62 percent in the past year. Sales prices for those homes rose 5.49 percent to a median sales price of $198,000. The MSP indicates that half of the homes were sold for more and half sold for less.

The National Association of Realtors (NAR) today announced a 3.1 increase in sales nationwide in June; the national MSP of $249,800 represents a 5.0 price jump over the past 12 months. Regionally, the Northeast experienced a 5.6 increase in sales and a 1.4 percent rise in prices, to equal a regional MSP of $284,800.

Ed Gardner, 2016 President of the Maine Association of Realtors, says, “As the data shows, real estate sales and values continue to be strong, and conversations with Realtors across Maine indicate continued confidence in the marketplace. New construction, including spec homes, are more prevalent than we’ve experienced in recent years. The ‘days on market’ for sold properties has been declining during 2016, indicating qualified buyers are making their moves.”

Gardner added, “A recent report released by the U.S. Commerce Department stated that the value of owning a home in the U.S. has never been greater, due to continued low mortgage interest rates and prices that have recovered and grown since the recession. Contact your local Realtor for guidance to determine if owning a home, with its federal and state tax deductions, is financially feasible for your household.”

Below are two charts showing statistics for Maine and its 16 counties. The first chart lists statistics for the month of June only, statewide. The second chart compares the number of existing, single-family homes sold (units) and volume (MSP) during the rolling quarter of April, May and June of 2015 and 2016.
 

Maine Real Estate Statistics – June 2016 Housing Report—7/21/16 JUNE ONLY CHART
June 1-30, 2015 – June 1-30, 2016
NUMBER OF UNITS
MEDIAN SALES PRICE
2015
2016
%Change
2015
2016
%Change
STATEWIDE
1788
1960
9.62%
$187,700
$198,000
5.49%
ROLLING QUARTER CHART
From April 1, 2015 – June 30, 2015 and
April 1, 2016 – June 30, 2016
NUMBER OF UNITS
MEDIAN SALES PRICE
County
2015
2016
%Change
2015
2016
%Change
STATEWIDE
4155
4917
18.34%
$184,000
$190,000
3.26%
Androscoggin
264
312
18.18%
$137,250
$149,000
8.56%
Aroostook
125
150
20.00%
$90,000
$84,750
-5.83%
Cumberland
1159
1266
9.23%
$249,000
$267,700
7.51%
Franklin
72
112
55.56%
$136,250
$125,000
-8.26%
Hancock
164
220
34.15%
$199,000
$187,500
-5.78%
Kennebec
355
425
19.72%
$139,000
$140,000
0.72%
Knox
138
147
6.52%
$184,500
$225,000
21.95%
Lincoln
104
157
50.96%
$167,000
$200,000
19.76%
Oxford
175
214
22.29%
$138,000
$148,000
7.25%
Penobscot
365
495
35.62%
$133,000
$135,000
1.50%
Piscataquis
66
83
25.76%
$94,500
$81,450
-13.81%
Sagadahoc
114
148
29.82%
$179,000
$192,450
7.51%
Somerset
111
146
31.53%
$84,000
$87,250
3.87%
Waldo
113
129
14.16%
$150,000
$162,000
8.00%
Washington
51
63
23.53%
$99,000
$85,000
-14.14%
York
779
850
9.11%
$231,500
$235,900
1.90%

 

Friday, April 22, 2016

U.S. Home Sales Rebound Signals Strong Spring Selling Season


WASHINGTON U.S. home resales rebounded more than expected in March as supply improved, suggesting the housing market recovery remained intact despite signs that economic growth probably stalled in the first quarter.

The sales surge at the start of the spring selling season was a sign of confidence in the economy, and the momentum is expected to be sustained given low mortgage rates, recent stock market gains and a firming labor market, analysts said.

"There cannot be too much wrong with the economy if consumers keep buying new homes. It shows confidence," said Chris Rupkey, chief economist at MUFG Union Bank in New York.

The National Association of Realtors said on Wednesday that existing home sales surged 5.1 percent to an annual rate of 5.33 million units last month, beating economists' expectations for a 3.5 percent increase. Sales were up 1.5 percent from a year ago.

Existing home sales rose in all four regions in March, jumping by 11.1 percent in the Northeast and 9.8 percent in the Midwest. Single-family home sales vaulted 5.5 percent, while purchases of condominiums rose 1.8 percent.

Sales were concentrated in the middle part of the market, with lack of inventory constraining transactions in the low-end segment.

"It points to a very strong start to the crucial spring selling season, and initial anecdotal indications point to this positive momentum being sustained in coming months," said Millan Mulraine, chief economist at TD Securities in New York.

Friday, March 4, 2016

Maine Events for March 2016

 
 
  

Acadia Winter Festival

9 Atterbury Circle
Winter Harbor, Maine 04693
Phone: (207) 288-1310
          
Feb 26 thru Mar 06, 2016. You're invited to be a part of the first Acadia National Park Centennial celebration! Bring your family and friends and be part of the winter magic and fun! Presented by Schoodic Institute and Camp Beech Cliff, this event offers over 45 activities in ten days on both MDI and Schoodic Point. Outdoor activities include snow shoeing, cross country skiing, outdoor dutch oven cooking, art and photography. Indoors you'll find hands-on workshops, lectures, movies, wood-carving, art presentations and more. Many events are free and open to the public and others have workshop fees. See the Title link above for a schedule of events, community sponsors and partners, and contact info. 


Annual Maple Syrup Festival & Irish Celebration - Curran Homestead

372 Fields Pond Road
Orrington, Maine 04474
Phone: (207) 745-4426
          
Mar 19, 2016. Curran Homestead annual Maple Syrup Festival and Irish Celebration. Sap will be turned into maple syrup on the wood stove, and there will be Irish music and food in celebration of the Curran family's Hibernian ancestry. Event is from 10 a.m. to 2 p.m.




Skowhegan Maple Festival

Main Street
Skowhegan, Maine
Phone: (207) 612-2571
          
Mar 25 thru Mar 27, 2016. Celebrating Somerset County's status as the top maple-producing county in the United States, this festival of all things maple offers fun activities and events for all ages with a talent show, pancake breakfast, marshmallow roasting, a scavenger hunt, a Rotary-sponsored beer, wine, and food tasting, and more. The Festival leads up to Maine Maple Sunday where sugarhouses around the state open their doors to the public offering free maple syrup samples and demonstrations on how pure Maine maple syrup is made. Many farms offer games, activities, treats, sugarbush tours and more. 




Belfast Winter Frost - Waterfall Arts

High Street
Belfast, Maine 04915
Phone: (207) 338-3370
          
Mar 01, 2015. First ever Belfast Winter Frost with ice skating, snow sculpture competition, snowshoeing, sledding challenges, snowball art competition, music with the Belfast Bay Fiddlers, food vendors and an indoor Flea Market. All participants receive coupons for discounted food items. Festival is free and open to the public from 12 p.m. to 5 p.m. 


Bath Blarney Days


Bath, Maine
Phone: (207) 442-7291
          
Mar 13 thru Mar 17, 2015. For a few days each March, the City of Ships becomes the City of the Irish as Downtown Bath celebrates Bath Blarney Days. Join us in downtown Bath for a week of fun, including Maine's largest St. Patricks Day Parade and many more activities. 


St. Patrick's Day Parade in Portland

Commercial Street
Portland , Maine 04104
Phone: (207) 232-7786
          
Mar 15, 2015. The Irish American Club is excited to once again honor our Patron Saint and the Irish American community in Greater Portland as we host the 2015 St. Patrick's Parade on March 15, 2015. As usual Pipe Bands, dignitaries and the flags of all the counties of Ireland will be on display on Commercial Street as we celebrate our Irish heritage, culture and traditions. For St. Patrick's Day parade details as they are developed see the Title link above or the Facebook page.