Cumberland Maine Real EstateCommunity Profile
 Cumberland is located just 15 minutes north of Portland. This suburb of Portland is one of the fast growing communities of Cumberland County.
Cumberland stretches from the coast of Casco Bay to the rolling inland hills made up of apple orchards, small family farms, pastures and horse land. Cumberland offers an easy commute to most major area employers, shopping and medical services yet provides a relaxed small-town atmosphere.
Located just off the coast in Casco Bay is the charming island of Great Chebeague. This island was a part of the town of Cumberland until July 1, 2007, when it formed its own local government. Educational Excellence Cumberland boasts an outstanding school system which is known to excel in both academics and athletics. As part of MSAD 51, local schools include Wilson kindergarden, North Yarmouth and Drowne Rd elementary and Greely middle and high schools. Southern Maine Resources and Features  | | Our Quality of Life Reports include detailed neighborhood and town statistics on local demographics, the environment, cost of living, wealth distribution, finance and income and crime. You can also access Educational information highlighted by town, school district and individual schools. | | | | |  | | Maine is a large and beautiful state. Our report, A Quick Tour of Maine includes a brief summary of Maine from its most northern and remote parts all the way to Southern Maine, the business and residential hub of the state. Reprinted with permission from Downeast Magazine, you can also download a copy. | | | | |  | | Home Market Sales & Statistics are available for YTD 2007, 2006, 2005 and 2004. If you do not see results from the particular town or city you are interested in, we can prepare any custom report you might need. | | | | |
Cumberland Real Estate Cumberland real estate is unique in that it varies dramatically from Cumberland Foreside with its coastal waterfront homes on Casco Bay, to its suburban neighborhoods and pastoral mini-estate to the west. Cumberland retains its rich farming history through the Cumberland Fair, one of the state's larger agricultural fairs, which has been held yearly in Cumberland since 1868. | 2008 Real Estate Sales & Values | | |
| Prop |
| # of |
| Sold Price |
| Days on Mkt |
| Inventory |
| Type |
| Units |
| Median | Average |
| Med | Avg |
| Units | Weeks | | | | | | | | | | | | | | | S-Family | | 81 | | $355,000 | $402,407 | | 73 | 100 | | 58 | 37.2 | | Condo |
| 19 |
| $320,000 | $309,680 |
| 136 | 162 |
| 12 | 32.8 | | Multi | | - | | - | - | | - | - | | 3 | NA | | Land |
| 5 |
| $242,500 | $431,900 |
| 185 | 335 |
| 56 | 582.4 |
|
Single family home sales in Cumberland were the same in 2008 as 2007 - 81 unit sales. Median pricing was also up, albeit slighly, at 2.9%. Condo sales were flat at 19, but median pricing did experience a 3.0% decline to $320,000. The median days to sell a home was 73, up slightly from 70 in 2007. Land sales were 5 compared to 3 in 2007. Like many other are local communities, there is a considerable amount of inventory available - both single family homes and condos. The absorbtion rate, which is a measure of how long it will take to sell all homes on the market, reflects 37.2 weeks for single family homes and 32.8 weeks for condos. There is a considerable amount of land on the market.
Real estate values have varied considerably during the last several years, as illustrated in the home sales statistics for 2007, 2006 and 2005. |
