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Cumberland is located just 15 minutes north of Portland. This suburb of Portland is one of the fast growing communities of Cumberland County.
Stretching 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.
boasts an outstanding school system which is known to excel in both
academics and athletics. As part of MSAD 51, local schools include
Wilson kindergarten, North Yarmouth and Drowne Rd elementary and Greely
middle and high schools. Cumberland's school budget is $6,517 per
student compared to a national average of $5,691. The student/teacher
ratio is 12.3.
Cumberland Real Estate Sales
Cumberland real estate is unique in that it varies dramatically from the Cumberland Foreside with its coastal waterfront homes on Casco Bay, to its suburban neighborhoods and pastoral mini-estates to the west. Cumberland retains its rich farming history through the Cumberland Fair, one of the state’s largest agricultural fairs, which has been held yearly in since 1868.
A quick glance at properties for sale in Cumberland will reveal that the town has a wide variety of single family homes available, including some very expensive and exclusive properties. Compared to other parts of southern Maine, Cumberland offers some very compellingly competitive prices for ocean front and ocean view homes.
2017 Sales - YTD Results Through March
Median Prices YTD 2017 | 2016
Unit Sales YTD 2017 | 2016
All housing data has been compiled from research by Maine Home Connection using information from the Maine Real Estate Information System (MREIS)
Rebounding from a sluggish year in 2015, Cumberland home sales set a new record at 188 units, representing a 24.5% improvement.This level of growth was more than double the state wide rate and well above results for the whole of Cumberland County. Cumberland sales have increased in six of the last seven years, beginning in 2009.
The median sales price, however, decreased slightly in 2016 and ended the year at %360,219 – a marginal drop of 1.3%. Like many communities just north of Portland, pricing over any specific time is also greatly influenced by the mix of properties that are under contract and their wide dispersion in selling prices.
In 2016 there was a considerably jump in homes sold over $1,000,000, as seven such transactions were completed at a median price of $2,300,000 versus only two in 2015 at a median price of $1,300,000. There were 10 oceanfront properties sold in 2016 – the same number as in 2015, except that the median price of $652,000 was up 3.9. Overall, the time to sell a home (DOM) was 35 in 2016.
Although increasing 25.0%%, condo sales remain a small part of the Cumberland real estate market at less than 10% of the total. Land sales remained flat year-over-year as 24 parcels were sold in both 2016 and 2015, providing evidence that new construction remains a viable option in this community.