According to the Maine Association of Realtors (MAR) May Press Release, low inventory on Maine single family homes has median sale prices up from last year. Across the state, the median home sales price in April 2017 was up 2.78% compared to April, 2016. Additionally, low inventory has resulted in a 13.93% decrease in sales when comparing April 2017 to April 2016.
Below are the Cumberland County Rolling Quarter Statistics (February, March, April) from the Maine Real Estate Statistics – April 2017 Housing Report:
Cumberland County Statistics: 2017 Rolling Quarter compared to 2016 Rolling Quarter
Number of Units:
2016 – 798
2017 – 705
% Change – (-11.65%)
Median Sales Price:
2016 – $252,550
2017 – $275,000
% Change – (+8.89%)
With this continued trend of decreased inventory and increased sale prices in the Greater Portland area, now is a great time to consider selling. If you are considering buying, it is more important than ever to have a Realtor assisting you in this competitive market! Contact us today to get started.
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