2009 Maine Real Estate Sales Statistics | Homes and Condos
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Maine Real Estate | Homes for Sale

2009 Sales Results - Cumberland & York Counties


Home Sales Statistics

After a tumultuous 2008, the 2009 real estate market in southern Maine was characterized by a welcomed level of stabilization in unit sales.

Overall Cumberland County single family home sales were up a surprising 6.6% or 165 units over 2008. A total of 2,591 homes were sold. Some of the most dramatic growth was in Falmouth, were sales were up 28.1%.  Other communities demonstrating significant increases were Old Orchard Beach at 24.5% and South Portland at 17.9%.

Home sales in York County increased 11.2% to a total of 1,784.

Throughout the year sales remained relatively constant in all four quarters of 2009, although a definite spike occurred during the later half of the year as the Federal housing tax credit clearly stimulated demand for first time homebuyers. This had a significant impact on home sales below the $250,000 price range.

Condo sales did not fare as well as home sales.  Total sales in Cumberland County were down in 2009 by 19.0%, as only 481 were sold compared to 594 in 2008.  The same was true in York County, as sales were down 13.5%, representing a reduction of 49 units compared to 2008.  In Portland, the largest condo market, sales were down 17.3%.  Old Orchard Beach, after several years of declining sales, recorded a positive sales gain of 7.6%, with 85 total units being sold, compared to 79 in 2008.

The time it took to sell a home improved in both Cumberland and York Counties.  The median days on market in Cumberland County was 61 days, compared to 66 in 2008, yielding an improvement of 7.6%.  In York County the median days on market improved even more at 16.9%, although the actual time was a bit longer at 74 days.

Maine Median & Average Housing Price Levels

Single family home prices did decline in 2009, but moderately so, compared to recent contractions in 2008 and 2007.  The median price of a single family home decreased 6.4%.  York County experienced a greater decline, as the median priced fell 15.0% in 2009, compared to 2008. The average price of a home sold in Cumberland County was $269,266, representing a decline from the previous year of 7.8%.

There was considerable variability from town to town in regards to prices in 2009.  In Portland, home prices were fairly stable, and declined only 3.9%.  Prices in Scarborough declined 4.5%.  Falmouth and Cape Elizabeth, however, continued to see pressure on prices, were declines of 16.3% and 19.3% were recorded. Condo prices continued to drop in 2009, although not as dramatically as the past two years.  The median prices declined 9.3% in Cumberland County and 6.6% in York County. Maine Real Estate Sales

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. Contrary to the national trend, 2007 home prices in Maine remained basically flat and did not begin to experience a decrease until 2008 and continued down in 2009, although at a lower rate.

As always, real estate continues to be a extremely local and very specific.  Towns, neighborhoods, school districts and specific home types all vary considerably in this difficult market.  Understanding the differences is critical to any buying or selling decision. 

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


 
2009 YTD Sales Statistics - Full Year 
000's Omitted
 % Change
2009 vs 2008
 

 

City or Town

Type

Units
Sold

Med
Price

Avg
Price

Med
DOM

Avg
DOM








       
PortlandSF4132182514680
 Condo20618621579123
       
South PortlandSF2302002123672
 Condo6214918554109
 1      
Cape ElizabethSF10128944851100
 Condo14174209123135
       
ScarboroughSF1923123435985
 Condo3123624584197
       
FalmouthSF1553604275582
 Condo2223729896122
       
Old OrchardSF6617522472128
 Condo8513818284141
       
FreeportSF6727537375104
 Condo15149178114130
       
CumberlandSF7228738684125
 Condo11284315144171
       
YarmouthSF753004045896
 Condo132252565496
       







County

Type

Units
Sold

Med
Price

Avg
Price

Med
DOM

Avg
DOM








       
CumberlandSF2,5912202696199
 Condo48118521482130
       
YorkSF1,78419024974118
 Condo313185212100174
 

Units
Sold

Med 
Price



  
1.7(3.9)
(17.3)10.1
  
17.9(5.2)
(16.2)9.1
  
7.4(19.3)
7.7(29.0)
  
7.9(4.5)
6.917.1
  
28.1(16.3)
15.815.0
  
24.5(15.0)
7.6(18.8)
  
.02(14.1)
25.0(49.8)
  
(11.1)(19.3)
(42.1)1.6
  
4.23.4
NC12.5
  


Units
Sold

Avg
Price



  
6.6(6.4)
(19.0)(9.3)
  
11.2(15.0)
(13.5)(6.6)

NL_Reprt

 


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

View reports at: Maine Home Sales Reports Archive 

 




 
 
 
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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