Single family homes sales in Cumberland County continued strong through the first seven months of 2012 as 1,638 homes were sold compared to 1,413 during a comparative period in 2011.  This represents an increase of 15.9%.

The median price of $224,950 was 1% below the prior year level of $227,500.

Portland, the area’s largest real estate market, has followed this general trend as home sales are up 5.6% and median prices are down about 1%.

Local Market Update

Each month we update our website with the most up-to-date home sales statistics.  You can access them by clicking the link for Local Communities, and then choosing the town or city that interests you.  We can also prepare a customized report for you if needed.

Properties Under Contract:

The graph below highlights monthly properties for sale vs those pending or under contract.  The percentage of under contract has remained steady during the last several months, which is an indication of a strong fall selling period.

It will be important to follow this measure over the next several months to gauge how strong the market will be over the winter.

By Published On: September 19, 2012Categories: Maine Real EstateTags: ,

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About the Author: Michael

Michael, along with his wife Laura, is co-owner of Maine Home Connection, an independent real estate company located in Portland. Maine. Together they started the brokerage from scratch with a new vision of what a company could look like if it focused completely on the needs of our clients and our agents.

Understanding the Local Market

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