Maine Real Estate News - Maine and Cumberland County Homes for Sale
Quality information and local news from an experienced Maine real estate professional. Local real estate news, information and listings for Maine authored by new local author and edited by RISMedia.Maine Real Estate Trends Up From National Average
If you read all of the articles that appear almost daily regarding the state of Real Estate, you come away with all doom and gloom. The media doesn’t miss a beat when it comes to informing us of all of the negative events that happen in our industry. Maybe it’s not their fault?
The problem with this type of reporting is, the current state of Real Estate is really Micro Market driven. What do I mean by this, well each market trends differently based on different levels of supply and demand. Even different neighborhoods in the same market trend differently.
The media, if we are not careful, can create a self fulfilling prophecy of a dropping market by paralyzing Buyers with fear into doing nothing. The Real Estate Market in Maine, according to the Maine Association of Realtors is actually trending up. What you say…..good news? Yes.
If you look at the number of homes that changed hands from July 2006 to July 2007 were 1196 to 1247. The Median Sales Price of Homes from July 2006 to July 2007 were$190,000 to $199,000 up 4.74%.
The MAR report went on to show the market trends by county, and the most significant take away was that each market was quite different from the next. So Buyers and Buyers agents, need to really drill down and look at how each area is appreciating and make good sound financial decisions by purchasing in the areas of greatest appreciation.
If you would like a copy of the entire report, I would be happy to email it to you. Email your requests to CindyRowe@TopProducer.com
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