The Maine Real Estate Information System, a subsidiary of the Maine Association of Realtors reported modest growth in units sold for this January verses January of 2011. Units sold were up 2% statewide. The median sales price was down 1.8%.
At Camden Hills Realty, we view these broader numbers as a signal that the market has found its floor and a degree of stability. We are cautiously optimistic looking forward but note concern relative to the impact of energy costs, geopolitical unrest, our own politics and jobs!
Looking at a three (3) month rolling average which takes into account November 1, 2010 thru January 31, 2011 and how it compares with November 1, 2011 to January 31, 2012, we also see reasons for optimism. Units sold where up almost 6% statewide. Prices were off about 5%.
Locally, the Knox County and Waldo County, over the dates noted above, did not fair as well. Units sold in Knox where down 21% and Waldo was off 6%. The median sales prices were down 9.5% in Knox and up 3.3% in Waldo. The differences in the Knox County’s numbers can be attributed to a strong year-end finish in 2010. Waldo was statistically flat.
It is a little early to predict but we feel the year will yield about 10,000 units sold statewide which is line with previous year’s activity. Again, pointing to some stability in the market. The numbers are well below the heydays of mid-2000.
The “silver lining” is it is the perfect time for a first time home owner to buy a house. Rates are low. Prices are down. Inventories and selections are up. It’s the perfect time to make a purchase.
Contact your local agent or Camden Hills Realty should you have any questions about the market, buying opportunities or listing your property. Real estate is a complicated transaction and a local Realtor can help you navigate the market.
Source: http://waldo.villagesoup.com/business/brief/real-estate/real-estate-shows-signs-of-life/486503
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