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!

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

Rolling Quarter Update

Cumberland County, Maine

March-May 2017

March-May 2017

% 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 18.85%. 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!

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

Rolling Quarter Update

York County, Maine

March-May 2017

March-May 2017

% 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!

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

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!

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

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 , , , , ,

The Goff Report – York County, Maine, February 2017

Local Market Update for York County, Maine

While not as severe as Cumberland County statistics, York County saw a 19.78% reduction in new listings in February 2017 compared to February 2016. Rolling quarter statistics show a modestly better 15.09% drop in new listings. The reduction in new listings along with the improvement in median sales price and median days on the market further solidify that this is indeed a seller’s market. Buyers in today’s market have to act quickly, and are frequently entering into multiple offer situations forcing them to go above asking price. Personally, I’m working with four buyers who have entered multiple offer situations this winter. Buyers in this market are prepared to make a competitive offer!

The number of new listings should increase in March and as we head into the warmer months, but time will tell whether there will be more inventory than last year…

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

*Oops! Last month I neglected to update the rolling quarter statistic column names. The data was correct, but it was showing incorrect months as the column title. This has been corrected on my blog.

Monthly Update

York County, Maine

February 2017

February 2016

% Change Year-Over-Year

Number of Sales

124

174

-28.74%

Median Sale Price

$240,000

$202,000

18.81%

Median Days on the Market

44

78

-43.59%

Number of New Listings

223

278

-19.78%

Rolling Quarter Update

York County, Maine

December-February 2017

December-February 2016

% Change Year-Over-Year

Number of Sales

557

574

-2.96%

Median Sale Price

$244,000

$218,500

11.67%

Median Days on the Market

41

63

-34.92%

Number of New Listings

591

696

-15.09%

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

Posted on March 9, 2017 at 5:33 PM
Derek Goff | Category: The Goff Report, York County | Tagged , , , , ,

The Goff Report – Cumberland County, Maine, February 2017

Local Market Update for Cumberland County, Maine

33.06%! 120 less homes! That’s the reduction in new listings in February 2017 compared to February 2016. Rolling quarter statistics show a modestly better 23.27% drop in new listings. The reduction in new listings along with the improvement in median sales price and median days on the market further solidify that this is indeed a seller’s market. Buyers in today’s market have to act quickly, and are frequently entering into multiple offer situations forcing them to go above asking price. Personally, I’m working with four buyers who have entered multiple offer situations this winter. Buyers in this market are prepared to make a competitive offer!

The number of new listings should increase in March and as we head into the warmer months, but time will tell whether there will be more inventory than last year…

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

*Oops! Last month I neglected to update the rolling quarter statistic column names. The data was correct, but it was showing incorrect months as the column title. This has been corrected on my blog.

Monthly Update

Cumberland County, Maine

February 2017

February 2016

% Change Year-Over-Year

Number of Sales

201

218

-7.80%

Median Sale Price

$272,000

$245,500

10.79%

Median Days on the Market

48

58

-17.24%

Number of New Listings

243

363

-33.06%

Rolling Quarter Update

Cumberland County, Maine

December-February 2017

December-February 2016

% Change Year-Over-Year

Number of Sales

751

784

-4.21%

Median Sale Price

$261,000

$240,000

8.75%

Median Days on the Market

38

77

-50.65%

Number of New Listings

666

868

-23.27%

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

Posted on March 9, 2017 at 5:22 PM
Derek Goff | Category: Cumberland County, The Goff Report | Tagged , , , , ,

The Goff Report – Cumberland County, Maine, January 2017

Local Market Update for Cumberland County, Maine

New year, new statistics! At the suggestion of readers, I have added a new statistic – Number of New Listings. This new statistic shows how many homes were listed in the month(s) specified. For example, in January 2017, 242 homes were listed compared to 284 in January 2016, a drop of 14.79%.

While the total number of sales were down slightly from a year ago, median sales price and median days on the market continued to improve in year-over-year comparisons. The rolling quarter statistics show a more complete picture, with a 6.17% increase in sales price. Homes continue to sell quickly in today’s market, though we experienced a slight slowdown in January. January was the first month since March 2016 that the median days on the market were above 31 days!

As winter is now in full force, it’s important to note that there are still plenty of buyers actively looking for homes. Those looking for homes during winter months tend to be better qualified and more prepared to make a competitive offer. For those looking to sell, there is little to no landscaping needed to improve curb appeal this time of year!

With loans relatively easy to obtain, and interest rates remaining very low historically, it is still a great time for buyers and sellers to come together!

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

Monthly Update

Cumberland County, Maine

January 2017

January 2016

% Change Year-Over-Year

Number of Sales

221

239

-7.53%

Median Sale Price

$261,500

$230,000

13.70%

Median Days on the Market

43

53

-18.87%

Number of New Listings

242

284

-14.79%

Rolling Quarter Update

Cumberland County, Maine

November-January 2017

November-January 2016

% Change Year-Over-Year

Number of Sales

888

844

5.21%

Median Sale Price

$260,000

$244,900

6.17%

Median Days on the Market

31

43

-27.91%

Number of New Listings

692

773

-10.48%

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

Posted on February 8, 2017 at 5:48 PM
Derek Goff | Category: Cumberland County, The Goff Report | Tagged , , , ,

The Goff Report – York County, Maine, January 2017

Local Market Update for York County, Maine

New year, new statistics! At the suggestion of readers, I have added a new statistic – Number of New Listings. This new statistic shows how many homes were listed in the month(s) specified. For example, in January 2017, 230 homes were listed compared to 249 in January 2016, a drop of 7.63%.

The total number of sales, median sales price, and median days on the market all saw improvements in January and in rolling quarter statistics.  Homes continue to sell quickly in today’s market, though we experienced a slight slowdown in January (the median days on the market in December 2016 was 36). I expect this to improve as we move into late February and into March as it has in years past.

As winter is now in full force, it’s important to note that there are still plenty of buyers actively looking for homes. Those looking for homes during winter months tend to be better qualified and more prepared to make a competitive offer. For those looking to sell, there is little to no landscaping needed to improve curb appeal this time of year!

With loans relatively easy to obtain, and interest rates remaining very low historically, it is still a great time for buyers and sellers to come together!

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

Monthly Update

York County, Maine

January 2017

January 2016

% Change Year-Over-Year

Number of Sales

188

159

18.24%

Median Sale Price

$238,500

$218,000

9.40%

Median Days on the Market

48

72

-33.33%

Number of New Listings

230

249

-7.63%

Rolling Quarter Update

York County, Maine

November-January 2017

November-January 2016

% Change Year-Over-Year

Number of Sales

679

607

11.86%

Median Sale Price

$245,000

$220,000

11.36%

Median Days on the Market

45

59

-23.73%

Number of New Listings

578

671

-13.86%

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

Posted on February 8, 2017 at 5:42 PM
Derek Goff | Category: The Goff Report, York County | Tagged , , , ,