Maine Single Family Residential Housing Real Estate Market Report For 2015-2016.

In a small rural state like Maine, there are fewer real estate listings and sales.

The property price spike blip up and down is more gradual. We are the only state in the nation that only borders one other and are pretty much on our own up here in the right hand corner of the country. Kinda sticking up like a lone corner thumb parked on the Eastern Atlantic Maritime Provinces of Canada.

So when the Maine real estate home sales report shows a nearly 12 percent increase for 2016, that is good news.

Knowing that not every sale involves a house or home and that land property transfers are a big part of what that number does not show. Land in Maine for building a house, for a waterfront vacation home or just acreage to farm, for the timber value. Those real estate sales with owner financing or just cash on the barrel head don’t involve bank mortgage lending either.

So back to the concentration on just Maine home sales, how many units and in what towns or the handful of cities in Vacationland. Prices for Maine homes in 2016 were up close to 5 percent as well. Maine has sixteen counties and the more populated ones behave differently for price movement and the real estate sales prices. We have blog posted on the current Maine real estate market reports before.

Confidence in the economy given the credit for the increase in Maine single family existing home prices and sale numbers for 2016. With 17,507 homes getting the real estate closing treatment and buyers and sellers starring in the property transfer exchange.

The yearly statewide median single family home sales price of $189,400 represents a 4.93 percent real estate jump.

This median state sale price means half of the homes were sold for more, half for less of this figure. Maine statewide home sales for the month of December 2016 were up 11.06 percent and the statewide MSP rose 4.08 percent to $185,000 compared for the previous December 2015 tabulations.

Nationally the USA real estate home sales price hiked 1.5 percent for December 2015.

This according to the National Association of REALTORS. The nationwide MSP rose 3.8 percent to $233,500. Regionally in the Northeast section of the country, in New England home sales were down 2.7 percent in December 2016 to $245,900.

The 2016 sales year ended with the highest number of reported transactions of 17,507 over the last 18 years of collecting data.

Maine has lower cost housing, is attractive to those wanting some land around the home. And for its low crime, no traffic. Maine’s interior regions as your go northeast and northwest up into the state sees a lot different price structure than in the handful of cities, along the 230 miles of the high value coast line where the Bushes, Rockefeller and other wealth is concentrated.

For example in Aroostook County, which is the size of Connecticut and Rhode Island combined with eleven people per square mile, space is a given. Lots of timberland, an expanse of farm acreage surrounds the lakes, ponds, rivers and streams.

What happened the last year in real estate single residential home sales in Aroostook County?

In 2015 housing units sold were 470 increasing to 563 in 2016. The average house price dropped 5.44 percent down to the $82,500, a decrease of close to $5,000 per house.

Here is a Maine real estate statewide inventory market report for 1/1/2017 to 2/16/2017.

On the other end of the scale, the real estate single family residential units sold in Cumberland County where Portland Maine is, the units jumped from 4141 to 4253 transactions. The average house price increased 6 percent from $250,000 to $265,000 for an average in the 2015-2016 comparison.

These are the local boards for the Maine Association of REALTORS. I have been past president of the Aroostook County REALTOR Council.

Thank you for following our Maine real estate blog post stream. Besides property listings in Maine for sale, we try to cover all the bases. With topics about the process of buying, selling, how to finance, what about legal issues that come up in a typical sale. Suggestions about what you out in the real estate audience wonder about would be the best posts to chisel out and upload as far as I am concerned. Those posts have been done about owner financing, subdividing, shoreland zoning and anything real estate related. It is all fair game as we hunt and peck and post religiously. All designed to save you time, money, frustration or worry.

When is the best time to list and sell your home or any other type of real estate property in Maine? When you know you need a change in housing, as soon as you know for certain a move is going to happen, get that property listed and online for the tire kicking. The coverage of the local Maine events happening through out the calendar year means steady blog post productions. The promotion of property in Maine goes year round because life does not stop for a few snow flakes.

I’m Maine REALTOR Andrew Mooers, ME Broker

207.532.6573 | info@mooersrealty.com |

MOOERS REALTY 69 North Street Houlton Maine 04730 USA