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Scarborough Maine Real Estate

Homes Sales Results

Scarborough offers a wide range of real estate options.  There are areas along the ocean (Pine Point), many larger subdivisions within close proximity to the area business districts and a generous selection of homes that offer larger rural lots that are often surrounded by trees.  There are also many opportunities for new construction.

Single family homes sales were 297 in 2013 compared to 216 in 2012, representing a 37.5% increase – one of the highest rates of improvement in all of Southern Maine.  The results for 2013 were the highest ever recorded for Scarborough, with the next highest level being reached in 2005, when 246 homes were sold.

The median price of a home sold in Scarborough in 2013 was $334,700, which was up a significant 7.7% and was at the highest level since 2006.

Condos represented 14.2% of all Scarborough property sales in 2013 as 49 transactions were completed at a median price of $210,000.  Both unit sales and prices were down slightly in 2013, and inventory exceeded demand. At year end there was 4+ months of inventory available.

Land sales improved significantly as new construction gained strength.  In 2013 26 parcels were sold compared to only 16 the year before.  Pricing, however, was done – but the mix of land sales had a great influence on this result.

 

2013 Scarborough Real Estate Sales & Prices

 
Prop
Type

# of
Units

Sold Price
Median     |     Average

Days on Mkt
Med  |  Avg
 % of
List
 %
Total
           
 Homes 297 $334,700$375,147 42
83
 95.6 79.4
 Condos 49
 $210,000$260,922 65
196
 95.4
 13.1
 Multi 2
 $446,000$446,000 64
64
 97.5 0.5
 Land 26
 $93,750$314,075 119
208
 79.82
 7.0


Across the state of Maine single family home sales were up 13.6% in 2013 versus 2012.  Pricing also was up 2.9%, reflecting a trend of improved sales and pricing over the last two years. Cumberland County sales volume improved 15.6% while pricing improved 7.1%.  Comparatively Scarborough outperformed most communities in Southern Maine and across the state.

Scarborough is a residential community just south of Portland that offers many real estate options, including a wide variety of subdivisions.  Overall sales growth has been steady during the housing recovery and pricing appears to have stabilized, and is trending toward improvement.

2014 Compared to 2013 - YTD Sales Results

The Scarborough real estate market, like all markets across the country, is affected by many factors.  It is a relatively small market, yet one of the higher-priced markets in Southern Maine. As a result, often month-to-month results yield wide fluctuations.  Reviewing sales data on a YTD comparion attempts to moderate the affects of seasonality, cyclicality, unusual high-end sales and macroeconomics. 

 

2014 vs 2013 Sales - YTD Results Through December

 
Prop
Type

Median Prices YTD
2014       |       2013
 Unit Sales YTD
2014  |  2013

Current
Inventory

%
U/C
         
 Homes $334,138$334,700 292
297 98
 39.7
 Condo $230,000$210,000 4749 12
 50.0
           
All housing data has been compiled from research by Maine Home Connection using information from the Maine Real Estate Information System (MREIS).

 

Addtional Scarborough Sales Information 

 
Footer-Bird2011 Scarborough Sales Report (Comparison to 2010)
Maine Housing Stats
Footer-Bird2010 Scarborough Sales Report (Comparison to 2009)
Footer-Bird2012 Maine Sales Report (Selected Cities & Counties)
Footer-Bird2011 Maine Sales Report (Selected Cities & Counties)
Footer-BirdSales Report Archives (All Prior Year Reports)
  
 
 
 Scarborough Sales History
YearUnitsPrice
   
2013
297
$334,700
 2012216
$311,000
 2011196
$329,450
 2010197$319,000
 2009192$312,500
 2008178$327,575
 2007222
$333,750
 2006228
$357,485
 2005246
$323,750
   

Single Famliy Homes

2013 Graphs-Scarborough Sales

2013 Graphs-Scarborough Prices


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