The Goff Report – Cumberland County, Maine, June 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 , , , , , ,

The Goff Report – Cumberland County, Maine, April 2017

Local Market Update for Cumberland County, Maine

In this month’s report, I have removed the monthly statistics in favor of strictly showing the rolling quarter statistics. I have also added a graphic which more cleanly displays the trends. Click on the image to view full size. You are welcome to share this graphic on social media as long as you do not crop it in any way.

Click the image to view full size

Once again, the number of new listings in Cumberland County tells the story. With a whopping 29.28% decline in new listings compared to last year, the sales price of homes and median days on the market trends are favoring sellers in today’s market.

Buyers must act quickly, and are often competing against several other offers. As the weather warms, if you’re on the fence about selling, these statistics may convince you!

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Rolling Quarter Update

Cumberland County, Maine

February-April 2017

February-April 2017

% Change Year-Over-Year

Number of Sales

707

807

-12.39%

Median Sale Price

$275,000

$254,000

8.27%

Median Days on the Market

32

38

-15.79%

Number of New Listings

1162

1643

-29.28%

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 May 8, 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 February 1, 2016 through April 30, 2016 and February 1, 2017 through April 30, 2017.

Posted on May 9, 2017 at 6:41 AM
Derek Goff | Category: Cumberland County, The Goff Report | Tagged , , , , ,

The Goff Report – York County, Maine, April 2017

Local Market Update for York County, Maine

In this month’s report, I have removed the monthly statistics in favor of strictly showing the rolling quarter statistics. I have also added a graphic which more cleanly displays the trends. Click on the image to view full size. You are welcome to share this graphic on social media as long as you do not crop it in any way.

Click for full image

Click for full image

Once again, the number of new listings in York County tells the story. With an 18.47% decline in new listings compared to last year, the sales price of homes and median days on the market statistics are favoring sellers in today’s market.

Buyers must act quickly, and are often competing against several other offers. As the weather warms, if you’re on the fence about selling, these statistics may convince you!

Want a more local market update? Sign up for Neighborhood News.

Rolling Quarter Update

York County, Maine

February-April 2017

February-April 2017

% Change Year-Over-Year

Number of Sales

535

628

-14.81%

Median Sale Price

$245,900

$221,250

11.14%

Median Days on the Market

34

61

-44.26%

Number of New Listings

1002

1229

-18.47%

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 May 8, 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 February 1, 2016 through April 30, 2016 and February 1, 2017 through April 30, 2017.

Posted on May 9, 2017 at 6:40 AM
Derek Goff | Category: The Goff Report, York County | Tagged , , , , , ,

The Goff Report – Cumberland County, Maine, March 2017

Local Market Update for Cumberland County, Maine

Spring is in the air! We saw 76 more sales in March than we saw in February. In year-over-year statistics there was an increase in total sales of 4.96%  in March compared to last year.

Last month I highlighted the reduction of new listings in February 2017  compared to February 2016 of 33.06% less homes. In March, things improved slightly, but we still saw an over 26% drop in new listings compared to a year ago. The quarterly stats show a very similar picture as last month’s numbers with a 24.78% drop in new inventory.

I suspect this lack of inventory will continue to be the story as we head into summer. Buyers in this market are prepared to make competitive offers, and are often competing against several other offers. If you’re considering selling, this may be the time!

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Monthly Update

Cumberland County, Maine

March 2017

March 2016

% Change Year-Over-Year

Number of Sales

275

262

4.96%

Median Sale Price

$259,900

$259,750

0.06%

Median Days on the Market

30

36

-16.67%

Number of New Listings

452

612

-26.14%

Quarterly Update

Cumberland County, Maine

January-March 2017

January-March 2017

% Change Year-Over-Year

Number of Sales

703

719

-2.23%

Median Sale Price

$262,000

$245,000

6.94%

Median Days on the Market

39

50

-22%

Number of New Listings

947

1259

-24.78%

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 April 8, 2017, from Maine MLS data from sales of single family homes.

Posted on April 10, 2017 at 5:47 PM
Derek Goff | Category: Cumberland County, The Goff Report | Tagged , , , , ,

The Goff Report – York County, Maine, March 2017

Local Market Update for York County, Maine

In both March and quarterly statistics, York County saw a slight decrease in the total number of sales in 2017, -1.37% and -4.17% respectively. New listings in York County continue to decline in year-over-year statistics which is helping to drive up the sales price and drive down the days on the market – all good news for sellers! Just take a look at the increase in median sales price! 11-12% increase in value year-over year in both monthly and quarterly trends!

I suspect this lack of inventory will continue to be the story as we head into summer. Buyers in this market are prepared to make competitive offers, and are often competing against several other offers. If you’re considering selling, this may be the time!

Want a more local market update? Sign up for Neighborhood News.

Monthly Update

York County, Maine

March 2017

March 2016

% Change Year-Over-Year

Number of Sales

216

219

-1.37%

Median Sale Price

$249,900

$225,000

11.07%

Median Days on the Market

40

47

-14.89%

Number of New Listings

364

472

-22.88%

Quarterly Update

York County, Maine

January-March 2017

January-March 2017

% Change Year-Over-Year

Number of Sales

529

552

-4.17%

Median Sale Price

$245,000

$217,950

12.41%

Median Days on the Market

44

66

-33.33%

Number of New Listings

824

999

-17.52%

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 April 8, 2017, from Maine MLS data from sales of single family homes.

Posted on April 10, 2017 at 5:38 PM
Derek Goff | Category: The Goff Report, York County | Tagged , , , , ,