The Goff Report – Cumberland County, Maine, October 2017

Local Market Update for Cumberland County, Maine

Sales are up, new listings are up, which continue to highlight that the seller’s market is ending. Prices are up, and days on the market is down, which means sellers still have an advantage in today’s market, despite the increase in new listings. A 4.57% increase in sales price over a year ago is definitely a good sign for sellers, but it’s less than what we’ve seen earlier this year where it has hovered around a 7% increase.

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Rolling Quarter Update

Cumberland County, Maine

August-October 2017

August-October 2016

% Change Year-Over-Year

Number of Sales

1275

1180

8.05%

Median Sale Price

$285,00

$272,550

4.57%

Median Days on the Market

16

19

-15.79%

Number of New Listings

1442

1349

6.89%

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 November 7, 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 August 1, 2016 through October 31, 2016 and August 1, 2017 through October 31, 2017.

Posted on November 13, 2017 at 9:44 AM
Derek Goff | Category: Cumberland County, The Goff Report | Tagged , , , , , , ,

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