How did real estate in Bath Maine fare in 2009. A total of 104 homes sold in 2009 compared with just 71 in 2008. Median prices however were down about 12% year over year clocking in at 128K relative to 146K thus housing values in Bath are approximately right where they were in 2003. Encouraging signs for a recovery are apparent though with the inventories remaining quite low, interest rate historically low, the housing tax credit extension and significant 2nd half of 2009 volume increases.
For more information on Maine real estate please contact me directly at 207-650-5383 or visit my site www.mymaineproperty.com.
Thanks for reading,
John
Maine Buyers Agent
As winter in Maine finally sets in and the phone has been a bit quiet with the “holiday hangover” effect I had a bit of time to compile some 2009 end of the year housing statistics for the lower mid coastal real estate markets that I follow. For the region as a whole including the towns of Brunswick, Bath, Freeport and the peninsulas of Harpswell, Georgetown and Phippsburg a total of 454 residential transactions took place at a median price point of 228K compared with 447 at 250K in 2008.
Thus volume was relatively stable and prices were down about 9% year over year, not bad overall! The median days on market for these sold homes and condo’s remained relatively unchanged as wel, but did fluctuate greatly from town to town with Bath seeing almost a 50% reduction whilst Phippsburg/Georgetown seeing 20% increase.
The housing market of Brunswick Maine is the largest in the region, followed by Bath and Freeport. These 3 communities saw healthier volume compared to the coastal waterfront regions of Harpswell and Phippsburg where the 2nd home market segment continues to remain sluggish .
You can view the complete coastal real estate estate report as well as an analysis of the southern real markets here.
Thanks for reading.
For the month ending November 30th, 2009, the mid coastal Maine real estate markets of Bath and Brunswick continue to truck along. In Bath, prices have remained fairly stable all year long clocking in at a median sold price of 127K this past November compared with a median price of only 99K in November 2008, but one must take into account the small sample size. 10 homes sold in Bath this previous month..double the 5 that sold in Nov 2008.
The Brunswick Maine real estate market saw 19 homes sell this November at a median price of 183K after having sat on the market for about 75 days. In November 2008, only 8 homes sold for the same period!
Volume is thus way up in both these coastal communities and pricing seems to be stablizing for the most part currently.
The coastal real estate markets located on the peninsulas of Phippsburg and Georgetown continue to remain sluggish although sales are significantly up from a year prior. For the months of Oct/Nov, a total of 7 homes sold at a median price of around 300K. This compares with only 3 homes selling for the same period in 2008. As our economy continues to come back, the 2nd home market has yet to see much of resurgence given the fragile state of affairs. Phippsburg Maine is home to Popham Beach State Park and many wonderful hiking trails and beaches. With a year round population of 2000 locals mix with many retired baby boomers looking for peace of mind and solitude. Still only 1 hour to Portland and 15 minutes to Bath, Phippsburg Maine real estate is well worth a look if interested in residential property in the mid coastal region.
Thanks for reading!
The mid coastal Maine real estate markets of Bath and Brunswick offer a great alternative to living in Portland. Brunswick is home to Bowdoin College whilst Bath maintains a great mix of blue and white collar worker with Bath Iron Works anchoring the regional job market. In Bath there are currently 90 single family homes on the market, Brunswick has 121. The median asking price in bath is 183K compared with 249K in Brunswick. Bath continues to remain a much more affordable option with the ability to find a great home in the 150K range but it is half the size of Brunswick from a population perspective and the extra 10 minute drive to Portland as I know all to well from living there for the past 3 years does add up!
For more information on these coastal maine real estate markets, please reach out anytime 207-650-5383 or john@greentreemaine.com.
Thanks for reading and Happy Black Friday!
John Herrigel
Maine Buyers Agent
The mid coastal real estate community of Yarmouth Maine posted solid results for the month ending October 2009. 7 transactions take place compared with 5 in 2008, representing a 40% increase although the sample size is very small. Median pricing for October 2009 was 275K compared with 239K in October 2008. The median days on market clocked in at 66 days, 25% lower than in 2008 but a bit higher than the past 3 months for the community. The inventory of residential properties has remained stable with about 70 units on the market. Overall the Yarmouth Maine housing markets are moving along in a stable pattern
Thanks for reading,
John Herrigel
Maine Buyers Agent
In Brunswick Maine in the month of September 19 homes sold a median price of 166K after sitting on the market for 106 days. This compares with 20 homes selling in September 2008 at a median price of 240K after sitting on the market for 81 days. The current inventory rest at 196 homes for sale in Brunswick Maine. Overall the markets have fared well through the summer and early Fall season, despite the naval air station closing.
For more information on real estate in Southern Maine please visit www.mymaineproperty.com or feel free to contact me directly at 207-650-5383 or via email at john@greentreemaine.com
For the 3 months ending August 2009, the Bath Maine residential real estate market saw 25 transactions transpire compared with 18 a year prior, representing a 39% increase in sales volume! The median price however did fall 4% from 145K to 139K. The median days on market dropped significantly from 114 to 62 for the 3 month period. Bath Maine is a great coastal community about 35-45 minutes from Portland and offers much more affodable home prices as the median Portland Maine home sales price for the same period was 203K.
Thanks for reading,
John
For the 2nd quarter ending June 30th, 2009, the Freeport ME real estate markets saw a total of 21 transactions transpire at a median price point of 255K comparing with 25 at 356 a year prior. Thus the volume has held up well but pricing is being dragged down partly by foreclosures, but I think more so as a result of a larger portion of Maine first time home buyers entering the market at lower price points.
The Coastal Maine real estate markets weathered the spring season with less than ideal numbers. The cities of Bath and Brunswick fared better than their coastal penisula counterparts as Phippsburg and Georgetown have had no homes sales in the past 3 months whilst Harpswell has seen a total of 15 for the same time period. The 2nd home market continues to suffer as the stock market limps along and buyers for this market segment are less than apt to purchase waterfront and coastal property.
Going forward look for a slow summer season. Bath and Brunswick will perhaps fare better catering to the first time home buyer population.
