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 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 larger agricultural fairs, which has been held yearly in since 1868.
Cumberland home sales were very healthy in 2011 and exceed 2009 sales as 93 single family homes were sold compared to 78 the previous year. This increase of 19.2% was the largest in Cumberland County. The median sales price was also up significantly.
Condo sales were also consistent with the previous year with 12 sales.
| | 2011 vs 2010 Sales Comparison | | |
Prop
Type |
| Median Selling Prices
2011 | 2010 | | Unit Sales
2011 | 2010 |
| Prices
% Chg |
| Units
% Chg | | | | | | | | | | |
| Homes | | $300,000 | $261,150 | | 93 | 78 | | 14.9 | | 19.2 | | Condo | | $277,500 | $235,900 | | 12 | 11 | | (2.8) | | (18.2) | | Multi | | - | - | | - | - | | - | | - | | Land | | $65,000 | $285,900 | | 13 | 10 | | (10.0) | | 50.8 | | | | | | | | | | | | |
|
The chart below compares real estate sales for the most recent three month period compared to a similar time period a year earlier. As illustrated, recent sales of single family homes are below levls of the previous period and pricing is also lower. | | 2012 vs 2011 Sales - 3 Month Rolling Avg (Nov-Jan) | | |
Prop
Type |
| Median Prices 3 Mos
2011 | 2010 | | Unit Sales 3 Mos
2011 | 2010 |
| Current
Inventory |
| Inv
Weeks | | | | | | | | | | |
| Homes | | $340,000 | $419,500 | | 17 | 17 | | 62 | | 47.3 | | Condo | | - | $290,000 | | 4 | 4 | | 9 | | NA |
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The Cumberland real estate market, like all markets across the country, is affected by many factors. It is a relatively small market and often month-to-month results yield wide fluctuations. Reviewing sales data on a three-month rolling average attempts to moderate the affects of seasonality, cyclicality and macroeconomics. Sales during this three month period remain strong, consistent with prior year. There is, however, considerable inventory available. |
