The Goff Report – Cumberland County, Maine, May 2018 | Real Estate Statistics

Local Market Update for Cumberland County, Maine

Median sales price increased 8.43% compared to a year ago! Number of new listings are trending slightly behind where we were a year ago, leading to a similar seller’s market. Last year we saw inventory catch up with demand around June/July, but with the number of new listings lower than a year ago (when there was already a shortage of listings) I would not be shocked if this seller’s market continued throughout the summer.

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Rolling Quarter Update

Cumberland County, Maine

March 2018 – May 2018

March 2017 – May 2017

% Change Year-Over-Year

Number of Sales

1143

1110

2.97%

Median Sale Price

$295,000

$271,800

8.54%

Median Days on the Market

12

17

-29.41%

Number of New Listings

1992

2069

-3.72%

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, 2018, 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, 2017 through May 30, 2017 and March 1, 2018 through May 30, 2018.

Posted on June 7, 2018 at 11:21 AM
Derek Goff | Category: Cumberland County, The Goff Report | Tagged , , , , , , ,

The Goff Report – Cumberland County, Maine, April 2018

Local Market Update for Cumberland County, Maine

Median Days on the Market dropped dramatically year-over-year, and also dropped dramatically from the January 2018-March 2018 numbers where the value was 35. Total sales and number of new listings were almost identical to a year ago, but median sales price was up 6% year-over-year in Cumberland County.

Though the number of new listings were down by just six in 2018, if you look back to 2016 numbers, we saw 1,643 new listings over the same February-April time period. It appears to be, and feels to be (buyers, in my experience, are still struggling to find homes where they don’t have to go well above asking price) a very similar market to a year ago.

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Rolling Quarter Update

Cumberland County, Maine

February 2018 – April 2018

February 2017 – April 2017

% Change Year-Over-Year

Number of Sales

714

713

0.14%

Median Sale Price

$291,500

$275,000

6.00%

Median Days on the Market

18

32

-43.75%

Number of New Listings

1171

1177

-0.51%

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 6, 2018, 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, 2017 through April 30, 2017 and February1, 2018 through April 30, 2018.

Posted on May 15, 2018 at 6:48 AM
Derek Goff | Category: Cumberland County, The Goff Report | Tagged , , , , , , ,

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 – 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 – 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 – 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 , , , , , , ,