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 , , , , , , ,

The Goff Report – York County, Maine, September 2017

Local Market Update for York County, Maine

The number of new listings increased 7.33% in York County compared to a year ago. Unlike Cumberland County, this is the only statistic showing that the seller’s market may be coming to an end. The decrease in number of sales has slowly crept towards last year’s numbers, but we still saw a slight decline. Sellers were able to grab 8.16% more for their homes compared to a year ago, which is good news for sellers, and “not so good” news for buyers. We’re headed into the last stretch before the snow hits, so we’ll see what happens!

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Quarterly Update

York County, Maine

July-September 2017

July-September 2016

% Change Year-Over-Year

Number of Sales

942

957

-1.57%

Median Sale Price

$265,000

$245,000

8.16%

Median Days on the Market

20

26

-23.08%

Number of New Listings

1274

1187

7.33

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 1:46 PM
Derek Goff | Category: The Goff Report, York County | Tagged , , , , , , ,

The Goff Report – Cumberland County, Maine, August 2017

Local Market Update for Cumberland County, Maine

With the kids back in school and most of the tourists returning home, we now have statistics on how the real estate market fared this summer in Cumberland County. The number of new listings increased 1.16% from last summer, marking two months in a row where new listings increased from the previous year. Last month’s report showed 3.95% increase, but it was the first increase we had seen all year. Could this be a sign of the seller’s market slowing down? Once again, the 6.47% increase in median sales price (slightly less than the 7.27% increase we saw a month ago) doesn’t indicate so, and the median days on the market remain low at 10. If the number of new listings continue to climb, one would expect sales prices to stabilize a bit.

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Quarterly Update

Cumberland County, Maine

June-August 2017

June-August 2016

% Change Year-Over-Year

Number of Sales

1,312

1,385

-5.27%

Median Sale Price

$298,000

$279,900

6.47%

Median Days on the Market

10

14

-28.57%

Number of New Listings

1,737

1,717

1.16%

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 September 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 June 1, 2016 through August 31, 2016 and June 1, 2017 through August 31, 2017.

Posted on September 11, 2017 at 9:15 AM
Derek Goff | Category: Cumberland County, The Goff Report | Tagged , , , , , , ,

The Goff Report – York County, Maine, August 2017

Local Market Update for York County, Maine

With the kids back in school and most of the tourists returning home, we now have statistics on how the real estate market fared this summer in York County. The number of new listings jumped 8.44% from last summer, marking two months in a row where new listings increased from the previous year. Last month we saw just a 0.53% increase, but it was the first increase we had seen all year. Could this be a sign of the seller’s market slowing down? Once again, the 8.41% increase in median sales price (the highest jump we’ve seen all year) doesn’t indicate so, and the median days on the market remain low. If the number of new listings continue to climb, one would expect sales prices to stabilize a bit.

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Quarterly Update

York County, Maine

June-August 2017

June-August 2016

% Change Year-Over-Year

Number of Sales

968

972

-0.41%

Median Sale Price

$265,000

$244,450

8.41%

Median Days on the Market

16

25

-36%

Number of New Listings

1,414

1,304

8.44%

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 September 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 June 1, 2016 through August 31, 2016 and June 1, 2017 through August 31, 2017.

Posted on September 11, 2017 at 9:05 AM
Derek Goff | Category: The Goff Report, York County | Tagged , , , , , , ,

The Goff Report – Cumberland County, Maine, July 2017

Local Market Update for Cumberland County, Maine

The number of new listings improved by 3.95% from a year ago, the first time we’ve seen this all year! The median sales price still increased by 7.27% from the same period a year ago, but is actually down slightly from the $298,000 that we saw in last month’s report. Could this all be a sign that the seller’s market is slowing? Maybe, but the median days on the market continue to contract, and the number of sales is still down compared to a year ago (though not as dramatically as we have seen in past months’ reports). Time will tell!

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Quarterly Update

Cumberland County, Maine

May-July 2017

May-July 2016

% Change Year-Over-Year

Number of Sales

1,227

1,413

-13.16%

Median Sale Price

$295,000

$275,000

7.27%

Median Days on the Market

10

13

-23.08%

Number of New Listings

1,923

1,850

3.95%

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 August 9, 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 May 1, 2016 through July 30, 2016 and May 1, 2017 through July 30, 2017.

Posted on August 14, 2017 at 10:14 AM
Derek Goff | Category: Cumberland County, The Goff Report | Tagged , , , , , , ,

The Goff Report – York County, Maine, July 2017

Local Market Update for York County, Maine

The number of new listings was slightly higher than a year ago. This is the first time this has happened all year! Could this be a sign of the seller’s market slowing down? The increase in price doesn’t seem to indicate so, with the median sales price 8.33% higher than last year. Homes continued to sell quickly, with the median days on the market dropping to 15 for the period of May-July 2017. With summer coming to an end in Maine, we will see whether the new listings continue to climb. If so, one would expect sales prices to stabilize a bit.

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Quarterly Update

York County, Maine

May-July 2017

May-July 2016

% Change Year-Over-Year

Number of Sales

894

940

-4.89%

Median Sale Price

$260,000

$240,000

8.33%

Median Days on the Market

15

25

-40%

Number of New Listings

1,506

1,498

0.53%

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 August 9, 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 May 1, 2016 through July 30, 2016 and May 1, 2017 through July 30, 2017.

Posted on August 14, 2017 at 10:03 AM
Derek Goff | Category: The Goff Report, York County | Tagged , , , , , ,

The Goff Report – Cumberland County, Maine, June 2017

Local Market Update for Cumberland County, Maine

The number of new listings once again improved from the rolling quarter report from a month ago. If you recall, new listings were down 13.30% from March-May 2016 to 2017, and from April-June 2016 to 2017 they were down just 4.59%. With median sales price still climbing (an 11.40% increase year over year!), all signs still indicate that this is a seller’s market.

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Quarterly Update

Cumberland County, Maine

April-June 2017

April-June 2016

% Change Year-Over-Year

Number of Sales

1,039

1,280

-18.83%

Median Sale Price

$298,000

$267,500

11.40%

Median Days on the Market

12

15

-20.00%

Number of New Listings

1,871

1,961

-4.59%

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 July 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 April 1, 2016 through June 30, 2016 and April 1, 2017 through June 30, 2017.

Posted on July 7, 2017 at 11:00 AM
Derek Goff | Category: Cumberland County, The Goff Report | Tagged , , , , , , ,

The Goff Report – York County, Maine, June 2017

Local Market Update for York County, Maine

The number of new listings once again improved from the rolling quarter report from a month ago. If you recall, new listings were down 13.85% from March-May 2016 to 2017, and from April-June 2016 to 2017 they were down just 5.66%. With median sales price still climbing (7.86% year over year!), all signs still indicate that this is a seller’s market.

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Quarterly Update

York County, Maine

April-June 2017

April-June 2016

% Change Year-Over-Year

Number of Sales

782

856

-8.64%

Median Sale Price

$254,450

$235,900

7.86%

Median Days on the Market

16

33

-51.52%

Number of New Listings

1467

1555

-5.66%

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 July 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 April 1, 2016 through June 30, 2016 and April 1, 2017 through June 30, 2017.

Posted on July 7, 2017 at 10:56 AM
Derek Goff | Category: The Goff Report, York County | Tagged , , , , , ,

The Goff Report – Cumberland County, Maine, May 2017

Local Market Update for Cumberland County, Maine

Click to view full image

The number of new listings improved slightly from the rolling quarter report from a month ago. If you recall, new listings were down 29.28% from Feb-April 2016 to 2017, and from March-May 2016 to 2017 they were down just 13.30%. A slight improvement, but overall listings are still down dramatically from a year ago. All signs still indicate that this is a seller’s market. What is interesting is the increase in median days on the market from a year ago. This could indicate that sellers are getting more aggressive with their pricing as they see home prices rise. We’ll see what happens next month.

As the real estate market heads into the busiest months here in Maine, if you’re on the fence about selling, now may be the time!

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Rolling Quarter Update

Cumberland County, Maine

March-May 2017

March-May 2016

% Change Year-Over-Year

Number of Sales

1103

1276

-13.56%

Median Sale Price

$271,600

$251,000

8.21%

Median Days on the Market

17

16

6.25%

Number of New Listings

2014

2323

-13.30%

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 June 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 March 1, 2016 through May 31, 2016 and March 1, 2017 through May 31, 2017.

Posted on June 8, 2017 at 8:20 AM
Derek Goff | Category: Cumberland County, The Goff Report | Tagged , , , , , ,

The Goff Report – York County, Maine, May 2017

Local Market Update for York County, Maine

Click for full image

The number of new listings improved slightly from the rolling quarter report from a month ago. If you recall, new listings were down 18.47% from Feb-April 2016 to 2017, and from March-May 2016 to 2017 they were down just 13.85%. A slight improvement, but overall listings are still down dramatically from a year ago. All signs still indicate that this is a seller’s market.

As the real estate market heads into the busiest months here in Maine, if you’re on the fence about selling, now may be the time!

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Rolling Quarter Update

York County, Maine

March-May 2017

March-May 2016

% Change Year-Over-Year

Number of Sales

852

949

-10.22%

Median Sale Price

$235,150

$225,000

4.51%

Median Days on the Market

25

44

-43.18%

Number of New Listings

1630

1892

-13.85%

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 June 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 March 1, 2016 through May 31, 2016 and March 1, 2017 through May 31, 2017.

Posted on June 8, 2017 at 8:09 AM
Derek Goff | Category: The Goff Report, York County | Tagged , , , , , ,