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Maine Real Estate Sales

2007 Full Year Sales Statistics 

Home Sales Statistics

On a national basis there is little denying that home sales and market values declined in 2007. The national picture, however, is more of a mosaic of many neighborhoods and communities, each with its own unique characteristics. The adage that real estate is local has never been more true as it is in Maine.

Home sales in southern Maine did see a decline in 2007. Unit sales in Cumberland and York counties declined 7.6% and 9.3% respectively. Yet within that aggregate some cities and town remained stable or even recorded modest growth.

In 2007 Maine Real Estate SalesMaine real estate defied national trends for several important reasons. First and foremost homes prices did not rise dramatically during the boom period of 2005 and as a result have had less to drop. Secondly, Maine has experienced comparatively little overbuilding and speculative buying, thus the glut of unsold homes has been minimized. Thirdly, the area has not been as hard hit by foreclosures due to poor lending practices or dramatic unemployment rates.

According to government data, home prices peaked nationally in the second quarter of 2005. The rate of appreciation began slowly dropping until it turned negative in the summer of 2007 for the first time in 13 years. Home prices in southern Maine, as the graph below demonstrates, have remained relatively stable in most local communities.

Details of home sales for the communities of Portland, South Portland, Cape Elizabeth, FalmouthScarborough, Yarmouth, Cumberland and Old Orchard Beach are avaiilable in this website and special requests for specific information can easily be prepared. 

Sales results for the entire year 2007, compared to 2006, are presented below. Prior year sales statistics are available at 2006 Homes Sales.


 
2007 Complete Year Sales Statistics 
000's Omitted
 % Change
2006 vs 2007
 

 

City or Town

Type

Units
Sold

Med
Price

Avg
Price

Med
DOM

Avg
DOM








       
Portland

SF

488

245

281

40

72

 

Condo

287

220

250

73

102

       
South Portland

SF

271

219

256

43

61

 

Condo

72

166

204

62

119

       
Cape Elizabeth

SF

132

375

478

60

80

 

Condo

17

227

246

72

82

       
Scarborough

SF

222

334

362

63

81

 

Condo

30

208

317

98

145

       
Falmouth

SF

168

419

494

58

85

 

Condo

11

250

325

36

63

       
Old Orchard

SF

65

220

241

57

105

 

Condo

135

200

229

94

125

       
Freeport

SF

86

314

361

88

91

 

Condo

14

176

292

74

190

       
Cumberland

SF

81

345

430

57

79

 

Condo

19

333

340

116

187

       
Yarmouth

SF

78

373

426

48

73

 

Condo

17

274

270

54

103

       







County

Type

Units
Sold

Med
Price

Avg
Price

Med
DOM

Avg
DOM








       
Cumberland

SF

2,980

250

318

60

87

 

Condo

674

210

240

69

106

       
York

SF

1,954

235

324

80

116

 

Condo

528

205

250

96

140

 

Units
Sold

Avg
Price



  

(14.1)

1.8

(7.7)

4.2

  

(13.1)

(0.4)

5.9

9.1

  

8.2

(16.1)

(5.6)

7.0

  

(2.2)

(5.7)

(3.2)

(3.1)

  

3.1

0.6

10.0

10.8

  

4.8

(0.8)

0.7

(1.3)

  

7.5

(13.0)

(51.7)

2.8

  

(19.0)

(16.2)

(29.6)

(15.6)

  

(4.9)

(24.2)

(22.7)

4.2

  


Units
Sold

Avg
Price



  

(7.6)

(1.5)

(9.9)

(0.8)

  

(9.3)

4.5

(10.4)

5.5

Home Sales & Real Estate Reports - Download Files

Download prior and current year homes sales statistics. If you do not find what you are looking for, we can prepare custom reports.

Download Report 2007 Homes Sales & Statistics
Total Year

Download Report 2006 Homes Sales & Statistics
Total Year

Download Report 2005 Homes Sales & Statistics
Total Year, including 2004 Summary



 
 
 
Maine Sales History
YearUnitsPrice
   
 201211,594$170,000
 20119,965$165,000
 201010,292$169,000
 200910,593$164,000
 20089,782$180,000
 200712,140$194,000
 200613,539$193,000
 200514,592$191,150
   

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Maine Home Sales History

Maine Home Sales Prices


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