The Goff Report – Cumberland County, Maine, September2017

Local Market Update for Cumberland County, Maine

The number of sales increased 4.13% compared to 2016. This was the first increase we’ve seen all year! I’ve been pointing to statistics showing that the seller’s market is coming to an end, and here is more data to back that up. Despite this, and median days on the market and number of new listings also seeing increases, sellers fetched 7.27% more in sales price compared to a year ago. If we continue to see these increases, I would expect sales price to stabilize. We’re headed into the last stretch before the snow hits, so we’ll see what happens!

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Quarterly Update

Cumberland County, Maine

July-September 2017

July-September 2016

% Change Year-Over-Year

Number of Sales

1310

1252

4.13%

Median Sale Price

$295,000

$275,000

7.27%

Median Days on the Market

18

12

50%

Number of New Listings

1542

1538

0.26%

Number of Sales: The number of properties sold.

Median Sales Price: The midway final price of all properties sold. Half sold for more, half sold for less.

Median Days on the Market: The midway point of days between a listing going on the market and accepting an offer. Half were on the market longer; half were on the market for less time.

Number of New Listings New home listings during the month(s) specified.

Note: Sales were compiled on October 6, 2017, from Maine MLS data from sales of single family homes.
Data based on information from the Maine Real Estate Information System, Inc. (d/b/a Maine Listings) for the period July 1, 2016 through September 30, 2016 and July 1, 2017 through September 30, 2017.

Posted on October 6, 2017 at 1:48 PM
Derek Goff | Category: Cumberland County, The Goff Report | Tagged , , , , , , ,

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