Maine Home Sales Are Up 13% In March

SOUTH PORTLAND (April 19, 2012) — Sales of single-family existing homes in Maine increased by double-digits again in March. According to the Maine Real Estate Information System, Inc., statewide home sales increased 13.16 percent, comparing March 2012 to March 2011. This is the ninth consecutive month of positive unit sales increases. The median sales price (MSP) increased 0.19 percent to $160,000 in that same time period; the first increase since July 2011. The MSP indicates that half of the homes were sold for more and half sold for less.

The National Association of Realtors reports that nationwide, single-family existing home sales rose 5.9 percent and the national MSP increased 1.9 percent to $163,600, comparing March 2012 to March 2011. Regionally, sales in the Northeast were up 5.5 percent while prices slipped 1.9 percent to $228,300 in that same time period.

Tina Lucas of Lucas Real Estate in Portland explains, “Considering the consistent increase in transaction volume over the past nine months, it seems the ‘wait and see’ attitude is waning. Many buyers recognize the real estate climate change and are now taking advantage of current market opportunities. Combined with the March increase in median sale prices — the first since mid-2011 — all signs are currently quite positive. A steady improvement in the market dynamic will lead to a more robust housing market, which will in turn lead to higher prices and lower inventory — both excellent reasons for potential buyers to act sooner than later.”

Lucas, who serves as 2012 President of The Maine Association of Realtors adds, “Although the future of the market is challenging, if not impossible to predict, properties will sell if presented to the market in the best condition possible and are properly priced with the emphasis on accurate pricing. Choosing a Realtor with a keen knowledge of the local market area is instrumental in creating a successful transaction.”

Below are two charts showing statistics for Maine and its 16 counties. The first chart lists statistics for the month of March only, statewide. The second chart compares the number of existing, single-family homes sold (units) and volume (MSP) during the months of January, February and March of 2011 and 2012.

Maine Real Estate – Supply of Inventory of Homes In March Down 24% From 2011

Maine Real Estate

Maine Real Estate Statistics Presented by

Legacy Properties Sotheby’s International Realty

Maine Real Estate ”Supply of Inventory” for the past Year

Inventory of Single Family Homes Drops 24% over 2011

 

 

The Maine Real Estate market has seen a significant improvement compared to the same period in 2011.  A decrease in inventory reflects increasing demand for single family homes and is an excellent leading indicator of the condition of the overall market.

Legacy Properties Sotheby’s International Realty has several Maine Real Estate Agents based in it Portland Maine office.

Should you require more information, please contact:

Chris Lynch
President
Maine Real Estate Expertise
Legacy Properties Sotheby’s International Realty
2 City Center
Portland, ME 04101
clynch@legacysir.com

note:  Data presented was sourced from the Maine Real Estate Information System using Terradatum analytical software.

Maine Real Estate – Homes Under Contract In March Are Up 32% over 2011

Maine Real Estate

Maine Real Estate Statistics Presented by

Legacy Properties Sotheby’s International Realty

Maine Real Estate ”Under Contract” for the past Year

A 32% Increase in Single Family Homes Under Contract

 

The Maine Real Estate market has seen a significant improvement compared to the same period in 2011.  Under Contract properties is an excellent leading indicator of the condition of the overall market and a very strong sign for further growth.

Legacy Properties Sotheby’s International Realty has several Maine Real Estate Agents based in it Portland Maine office.

Should you require more information, please contact:

Chris Lynch
President
Maine Real Estate Expertise
Legacy Properties Sotheby’s International Realty
2 City Center
Portland, ME 04101
clynch@legacysir.com

note:  Data presented was sourced from the Maine Real Estate Information System using Terradatum analytical software.

 

Maine Real Estate – Number of Homes Sold In March Up 11% From 2011

Maine Real Estate

Maine Real Estate Statistics Presented by

Legacy Properties Sotheby’s International Realty

Maine Real Estate ”Sold Unit Volume” for the past Year

A 11% Increase in Single Family Homes Sold


The Maine Real Estate market has seen a significant improvement compared to the same period in 2011. Sold Volume in Maine has improved along with other significant measures of Maine Real Estate for several consecutive months. This improvement in volume has helped to stabilize prices in most Maine markets.

Legacy Properties Sotheby’s International Realty has several Maine Real Estate Agents based in its offices in Portland MaineKennebunk MaineCamden Maineand Brunswick Maine.

Should you require more information, please contact:

Chris Lynch
President
Maine Real Estate Expertise
Legacy Properties Sotheby’s International Realty
2 City Center
Portland, ME 04101
clynch@legacysir.com

note:  Data presented was sourced from the Maine Real Estate Information System using Terradatum analytical software.

 

Sotheby’s International Realty Most Exceptional Sales of 2011

 

Sotheby’s International Realty-Greenwich Brokerage | $39,500,000 | Connecticut, USA

Point of View is located in prestigious Field Point Park. This century-old Long Island Sound compound is one of Greenwich’s most significant waterfront
estates. The expansive six-bedroom, 20,000 square foot stone residence sits commandingly on 4.26 acres fronting 340 feet of shoreline. Inside, the grand
35-foot high, marble-floored atrium gallery serves as a pivotal space from which the first rooms unfold, beginning with the semi-circular, window-walled
living room. Library/gallery spaces are arranged on the main and garden levels, where a natatorium/ballroom features an elaborate mosaic floor that lowers with the touch of a button to transform into the indoor pool. There are waterside terraces, and the park-like grounds feature a pool, guest house and guest cottage alongside the historic 175 foot suspension bridge designed by John Roebling & Sons.

London Sotheby’s International Realty | £19,250,000 GBP | $31,624,774 USD | London

Arguably the finest home in Hampstead village, it is discreetly hidden
from the road with uninterrupted views over the Heath. This
award-winning mansion has been substantially rebuilt and modernized
to provide extensive accommodation and leisure facilities. With a total
7,190 square feet/668 square meters, it is located in Central London.

Sotheby’s International Realty-San Francisco Brokerage | $29,500,000 | California, USA

This extraordinary 1922 Grand Tudor Revival mansion has dramatic
Bay and Golden Gate Bridge views from every level and occupies
more than one-third of an acre on an exclusive section of San
Francisco’s highly coveted Gold Coast. Set back from the street for the
ultimate in privacy, the unique and delightful approach to this magnificent
residence is on a brick path through flowering south gardens. Spanning
four spacious levels—all with elevator access—this well-designed,
light-filled home features grand public rooms that showcase classic
period detail including leaded glass windows and elaborate moldings
and millwork. Walkways through lush rear northern gardens lead to the
heated pool and spa.

Sotheby’s International Realty-Palm Beach Brokerage | $29,150,000 | Florida, USA

This tropical retreat encompasses two acres with 190-feet of direct
ocean frontage. Offering the ultimate in privacy, the six bedroom,
seven-and-a-half bath residence has magnificent views, coquina and tile
floors throughout and a salt water pool.

Sotheby’s International Realty-San Francisco Brokerage | $28,000,000 | California, USA

Sited atop the highest floors of the Five-Star St. Regis Hotel & Residences
in San Francisco, this one-of-a-kind, palatial penthouse features
more than 20,000 expansive square feet, including 2,900 square
feet of terraces – one of the largest personal residences in all of San
Francisco. This exquisite, grand penthouse was designed for city living
and has floor-to-ceiling glass walls soaring 21 feet, 360-degree views of
many San Francisco landmarks, six bedrooms, seven full bathrooms,
four powder rooms, world-class security, six car valet parking and fivestar
hotel amenities.

Island Sotheby’s International Realty | $27,000,000 | Hawaii, USA

A truly magnificent location, nestled in Makena on Maui’s South
shore, this one-of-a-kind estate provides direct views of the blue
pacific, white surf and year round sunsets. The gated entry and more
than 1.6 ocean front acres provides privacy. Recently restored, this single
level residence with four bedrooms and five-and-a-half baths offers
the best in Island style living on the Pacific.

Sotheby’s International Realty-Palm Beach Brokerage | $27,000,000 | Florida, USA

This compound has 200 feet of direct oceanfront. The John Volk
designed main residence features a living room, great room overlooking
the pool and terrace, library and first floor guest room. There
is one bedroom and one bath off the kitchen, a second floor oceanfront
master suite with his and her baths as well as a study. The guest cottage
features two large bedrooms, each with a bath, and one bedroom, one
bath staff quarters.

London Sotheby’s International Realty | £13,950,000 GBP | $22,507,260 USD | London

Behind a Portland stone façade, this residence of approximately
7,000 square feet opens directly into private communal gardens.
There is an entrance hall, four reception rooms, a master bedroom suite
that spans the entire second floor with dressing room and two bathrooms,
four further suites, staff room and kitchen. There also are three
cloakrooms, a roof terrace and patio with direct access to the communal
gardens from ground and lower ground floors.

Wallace & Co. Sotheby’s International Realty | $22,400,000 | Massachusetts, USA

The Blue Heron Farm is a majestic, 28.5-acre residential compound
located waterfront in Chilmark on Tisbury Great Pond. The property
includes five main structures including two full-size homes (5,118
square feet and 3,718 square feet, respectively) that have all been renovated
to the highest specifications. Equestrian facilities include an antique
eight-stall horse barn that was relocated from Pennsylvania and
completely rebuilt on site, an Olympic dressage arena and six grass paddocks.
Recreational amenities include a waterview pool with hot tub,
par 3 golf hole, tennis court, half basketball court, lawn bowling and
horseshoes. Waterfront allows for boating on Tisbury Great Pond to the
nearby Atlantic Ocean beach.

London Sotheby’s International Realty | £13,450,000 GBP | $22,096,271 USD | London

Located in Kensington, London, this 6,126 square foot/569 square
meter, five-bedroom, semi-detached house has features ideal for
entertaining and family living. The house has been the subject of a thorough
refurbishment project and is on the prime Phillimore Estate, within
easy reach of Holland Park and Kensington High Street.

Morris & Fyrwald Sotheby’s International Realty | $21,750,000 | Colorado, USA

This luxury compound consists of two contiguous lots located on
more than two acres on the Ridge of Red Mountain. Enjoy unobstructed
“front row” views of Aspen Mountain, Independence Pass and
the entire valley from this newly sustainable constructed, certified “built
green,” Thermal solar-ready mountain contemporary estate featuring
five bedrooms, five full baths, three half-baths, 11,300 square feet, gourmet
kitchen, gym/sixth bedroom, theater and 1,600 bottle wine enclave.
There also is a gracious master suite, huge recreation room, four fireplaces,
resistance pool and beautiful outdoor spaces. The 4,178 square
foot guest home has five bedrooms and five-and-a-half baths.

ONE Sotheby’s International Realty | $21,500,000 | Florida, USA

This one of kind penthouse at the Setai has exceptional architecture
and decor. No expense or detail was spared in creating a traditional
Thai home in the sky. This masterpiece boasts endless works of art,
custom woodwork, unique furnishings, antiques and a rooftop terrace.
Setai offers five-star amenities, valet, concierge, room service, restaurant
and bar, fitness center with spa and three pools.

Rego Sotheby’s International Realty | $21,500,000 | Bermuda

Located at the end of prestigious Tucker’s Town, Bermuda, this eightacre
peninsula is rimmed by soft pink sand beaches and panoramic
views of surrounding Castle Harbour’s aquamarine waters. Included in
this piece of land is World Heritage site “King’s Castle” (c. 1612) on the
nearby Castle Island Nature Reserve, as well as pirates’ caves and lookout
points.

Sotheby’s International Realty-Bridgehampton Brokerage | $20,500,00 | New York, USA

This oceanfront home is in a premier location and has panoramic
ocean views. The state-of-the-art estate is 9,500 square feet and
is sited behind a dune with eight bedrooms, nine baths, formal living
and formal dining rooms, custom media room, gourmet kitchen, staff
quarters and large comfortable decks. There also is a large heated, gunite
pool and spa, all on 2.2 acres.

Sotheby’s International Realty-East Side Manhattan Brokerage | $20,000,000 | New York, USA

Designed as a stately residence by the prominent architects Flagg
and Chambers, and located on one of Manhattan’s most picturesque
residential townhouse blocks, this elegant 25-foot wide five-story
mansion was once the home of the New York Observer and is still certified
for commercial occupancy. Impeccably restored and newly updated,
this estate includes a perfectly proportioned Federal-style façade,
sweeping spiral staircase and a stunning 30-foot living room/office surrounded
by full-height French-polished rosewood paneling. The property
boasts approximately 10,000 square feet of floor area and includes a
grand formal dining room/conference room, a library/office, complete
chef ’s kitchen, numerous additional bedrooms/offices and bathrooms
and an elevator serving all floors.

Sotheby’s Mobile App Featured in Luxury Daily

Top 10 luxury brand mobile efforts of Q1

By 

April 11, 2012

TO DOWNLOAD SIR MOBILE APP http://m.sir.com/m/sothebys/sir/

Luxury marketers have started to move away from vanilla mobile applications and sites and have instead started to widen their mobile range including SMS, QR codes, sponsorships and augmented reality.

The majority of luxury brands are still struggling to find their way in the fastest-growing advertising channel, but the ones that have are doing so with great vigor. The marketers that developed campaigns in the first quarter of this year implemented new technology, innovated techniques and sharpened their mobile savvy.

Here are the top 10 mobile efforts by luxury brands in the first quarter, in alphabetical order.

Bergdorf Goodman, Bloomingdale’s, BMW, Jenn-Air, Neiman Marcus, Nordstrom, Sotheby’s, Starwood, Stella McCartney, Trump Hotel Collection

Sotheby’s – Sotheby’s International Realty looked to encourage affluent consumers to browse through its housing listings with a new location-based iPad app.

A sister organization of the famed auction house, Sotheby’s International Realty is using the iPad’s canvas to display maps, large images, local surroundings and payment and tax information for its U.S. listings.

The app was created in partnership with Smarter Agent and is available to download for free in Apple’s App Store.

The mobile user is asked to allow the app to find its location. This will open a map of the consumer’s current location and the listings near it.

A browser can also search the listings by entering a city, state or specific address. The area surrounding the address or city will appear on the map.

Listings will pop up as small squares with the pricing in the middle. Tapping on the square opens a larger box that lists the exact address for that listing.

Additionally, after selecting a specific property, an iPad user can browse the local recreational scene by tapping on an option on lifestyle or entertainment from the bottom bar.

There are options such as restaurants, shopping, night life, winery, bookstore, cinemas, ski resort and golfing.

Tapping on any of the real estate listings brings the consumer to an information page that features content such as the property description, price, taxes and estimated mortgage.

Mobile users can also read through additional features and browse full-screen photos by tapping on one of the bottom images and then swiping their finger across the screen.

From here, the shopper can also employ a one-click email to contact the Sotheby’s real estate agent who is handling the property.

TO DOWNLOAD SIR MOBILE APP http://m.sir.com/m/sothebys/sir/

Source: http://www.luxurydaily.com/top-10-luxury-brand-mobile-efforts-of-q1/

Portland Maine Named #1 Best Summer Destination, #1 Quality of Life, and 7th Greenest City by Travel+Leisure Magazine

 

 

No. 7 Portland, ME

Between the farm-to-table restaurants, homegrown microbrews, and all that lobster, you can literally taste the great outdoors here. A few popular restaurants, such as Miyake or 20 Milk Street at the Regency Hotel, even have their own farms. Voters preferred Portland in the summer over any other city in the survey—the ideal time to fish, enjoy the parks, or stroll the Old Port area.

Quality of Life and Visitor Experience

 
RANK CITY SCORE
1 Portland, ME 4.51
2 Santa Fe 4.46
3 Minneapolis/St. Paul 4.27
4 San Diego 4.26
5 Denver 4.24

Best Time for a Summer Visit

 
RANK CITY SCORE
1 Portland, ME 4.82
2 San Diego 4.78
3 Providence 4.75
4 Seattle 4.73
5 Minneapolis/St. Paul 4.70

Expectations rising for housing market’s spring season

 

The spring home-selling season could be the strongest in years and may foreshadow which markets will lead a battered housing industry in an anemic recovery, economists say.

“This spring will be the litmus test for housing demand,” says Steven Ricchiuto, chief economist for Mizuho Securities USA.

The spring season typically runs March through June but may have started early this year because of unseasonably warm weather.

While last year was dismal for existing home sales, this year is looking better. Existing home sales in February were up 9% from the same time a year ago, as was the Pending Home Sale Index, which reflects signed contracts leading to sales, says the National Association of Realtors.

Meanwhile, Realtors’ confidence in the single-family home market is the highest in four years, according to a late February NAR survey of 4,300 agents. Coldwell Banker says its website’s traffic was up 47% in February from last year.

This spring season “will be the best in four or five years,” says economist Paul Dales of Capital Economics.

But not all markets will move together, and spring sales may signal which ones are improving or still declining, says Eric Fox, Veros Real Estate Solutions economist.

Veros forecasts that U.S. home prices overall will drop 0.85% in the next 11 months but that 40% of 321 metropolitan areas will see prices rise.

Phoenix will do best, Veros says. Given a 42% drop in home supply and a relatively strong economy, Phoenix homes will see a 5% price gain this year, Veros says.

A similar-size drop in supply is also helping Denver, says Scott Webber, president of Fuller Sotheby’s International Realty. “We’ve returned to a much more balanced market,” he says.

Denver prices rose 0.2% in January year-over-year, the Standard & Poor’s Case-Shiller index shows. Of 20 cities, only Denver, Phoenix and Detroit posted annual gains, S&P says.

Webber says non-distressed homeowners still hesitate to sell, but others see a shift. In Central Pennsylvania, Coldwell Banker saw a 30% jump in new listings in February over a year ago. March was strong, too, says manager Naomi Fredlund.

“People were holding off,” hoping for stronger prices, Fredlund says. “Now, they’re selling.” She expects flat prices.

Spring sales could disappoint because a mild winter drew some buyers into the market earlier, Dales says. Also, investors bought a record 25.4% of homes in February, says a Campbell/Inside Mortgage Finance survey. They buy all year and may mute the impact of the spring season this year.

Any hits to consumer confidence could also curtail sales in what’s “poised to potentially be a good season,” says Mark Fleming, CoreLogic economist.

By Julie Schmit, USA TODAY
From: http://www.usatoday.com/money/economy/housing/story/2012-04-01/spring-home-buying/53935318/1

Investment and Vacation Home Sales Surge in 2011

Washington, DC, March 29, 2012

WASHINGTON (March 29, 2012) – Sales of investment and vacation homes* jumped in 2011, with the combined market share rising to the highest level since 2005, according to the National Association of Realtors®.

NAR’s 2012 Investment and Vacation Home Buyers Survey, covering existing- and new-home transactions in 2011, shows investment-home sales surged an extraordinary 64.5 percent to 1.23 million last year from 749,000 in 2010. Vacation-home sales rose 7.0 percent to 502,000 in 2011 from 469,000 in 2010. Owner-occupied purchases fell 15.5 percent to 2.78 million.

Vacation-home sales accounted for 11 percent of all transactions last year, up from 10 percent in 2010, while the portion of investment sales jumped to 27 percent in 2011 from 17 percent in 2010.

NAR Chief Economist Lawrence Yun said investors with cash took advantage of market conditions in 2011. “During the past year investors have been swooping into the market to take advantage of bargain home prices,” he said. “Rising rental income easily beat cash sitting in banks as an added inducement. In addition, 41 percent of investment buyers purchased more than one property.”

Yun said the shift in investment buyer patterns in 2011 shows the market, for the large part, is able to absorb foreclosures hitting the market. “Small-time investors are helping the market heal since REO (bank real estate owned) inventory is not lingering for an extended period. Any government program to sell REO inventory in bulk to large institutional companies should be limited to small geographic areas. Even where alternatives are needed, it’s best to rely on the expertise of local businesses, nonprofit organizations and government,” he said.

All-cash purchases have become fairly common in the investment- and vacation-home market during recent years: 49 percent of investment buyers paid cash in 2011, as did 42 percent of vacation-home buyers. Half of all investment home purchases in 2011 were distressed homes, as were 39 percent of vacation homes.

“Clearly we’re looking at investors with financial resources who see real estate as a good investment and who aren’t hesitant to use cash,” Yun said. Of buyers who financed their purchase with a mortgage, large downpayments were typical. The median downpayment for both investment- and vacation-home buyers in 2011 was 27 percent.

“Given the tight credit in recent years, many would-be normal home buyers for owner occupancy declined,” Yun said.

The median investment-home price was $100,000 in 2011, up 6.4 percent from $94,000 in 2010, while the median vacation-home price was $121,300, down 19.1 percent from $150,000 in 2010.

Investment-home buyers in 2011 had a median age of 50, earned $86,100 and bought a home that was relatively close to their primary residence – a median distance of 25 miles, although 30 percent were more than 100 miles away.

“The share of investment buyers who flipped property remained low in 2011, and many of those homes likely were renovated before reselling,” Yun said. Five percent of homes purchased by investment buyers last year have already been resold, up from 2 percent in 2010. The typical investment buyer plans to hold the property for a median of 5 years, down from 10 years for buyers in 2010.

The typical vacation-home buyer was 50 years old, had a median household income of $88,600 and purchased a property that was a median distance of 305 miles from the primary residence; 35 percent of vacation homes were within 100 miles and 37 percent were more than 500 miles. Buyers plan to own their recreational property for a median of 10 years.

Lifestyle factors have consistently been the primary motivation for vacation-home buyers, while the desire for rental income drives investment purchases. Vacation homes purchased last year were more likely to be in suburban or rural areas; investment homes were concentrated in suburban locations.

Eighty-two percent of vacation-home buyers said the primary reason for buying was to use the property themselves for vacations, or as a family retreat. Thirty percent plan to use the property as a primary residence in the future, and only 22 percent plan to rent to others.

Half of investment buyers said they purchased primarily to generate rental income, and 34 percent wanted to diversify their investments or saw a good investment opportunity.

Sixteen percent of vacation buyers and 14 percent of investment buyers purchased the property for a family member, friend or relative to use. In many cases the home is intended for a son or daughter to use while attending school.

Forty-two percent of vacation homes purchased last year were in the South, 30 percent in the West, 15 percent in the Northeast and 12 percent in the Midwest; 1 percent were located outside of the U.S.

Forty-four percent of investment properties were in the South, 23 percent in the West, 17 percent in the Midwest and 15 percent in the Northeast.

Eight out of 10 second-home buyers said it was a good time to buy. Nearly half of investment buyers said they were likely to purchase another property within two years, as did one-third of vacation-home buyers.

Currently, 42.1 million people in the U.S. are ages 50-59 – a group that has dominated second-home sales since the middle part of the past decade and established records. An additional 43.5 million people are 40-49 years old, while another 40.2 million are 30-39.

“Given that the number of people who are in their 40s is somewhat larger than the 50-somethings, the long-term demographic demand for purchasing vacation homes is favorable because these younger households are likely to enter the market as their desire for these kinds of properties grows, and individual circumstances allow,” Yun said.

NAR’s analysis of U.S. Census Bureau data shows there are 8.0 million vacation homes and 42.8 million investment units in the U.S., compared with 75.3 million owner-occupied homes.

NAR’s 2012 Investment and Vacation Home Buyers Survey, conducted in March 2012, includes answers from 2,241 usable responses about home purchases during 2011. The survey controlled for age and income, based on information from the larger 2011 NAR Profile of Home Buyers and Sellers, to limit any biases in the characteristics of respondents.

The 2012 Investment and Vacation Home Buyers Survey can be ordered by calling 800-874-6500, or online at www.realtor.org/prodser.nsf/Research. The report costs $19.95 for NAR members and $149.95 for non-members.

The National Association of Realtors®, “The Voice for Real Estate,” is America’s largest trade association, representing 1 million members involved in all aspects of the residential and commercial real estate industries.

# # #

*Vacation homes are recreational property purchased primarily for the buyer’s (or their family’s) personal use, while investment homes are residential property purchased primarily to rent to others, or to hold for other financial or investment purposes.

Information about NAR is available at www.realtor.org. This and other news releases are posted in the News Media section. Statistical data, tables and surveys also may be found by clicking on Research.

REALTOR® is a registered collective membership mark which may be used only by real estate professionals who are members of the NATIONAL ASSOCIATION OF REALTORS® and subscribe to its strict Code of Ethics. Not all real estate agents are REALTORS®. All REALTORS® are members of NAR.

MAINE HOME SALES UP 29 PERCENT IN FEBRUARY

SOUTH PORTLAND (March 21, 2012) — Buyers of single-family existing homes in Maine showed up in increasing numbers last month, leading to double-digit sales gains. According to the Maine Real Estate Information System, Inc., 624 homes sold in February 2012, a sales increase of 29.46 percent compared with
February 2011. The median sales price (MSP) decreased 5.99 percent to $149,900 in that same time period. The MSP indicates that half of the homes sold for more and half sold for less.


The National Association of Realtors reports a 9.4 percent increase in existing home sales nationwide. The national MSP rose 0.1 percent to $157,100 in February. Regionally, the Northeast experienced a 5.5 percent increase in sales, while the regional MSP dipped 1.9 percent to $225,800.


Tina Lucas of Lucas Real Estate in Portland relays, “The steady increase in the number of homes sold is a reflection of several factors: the rise in consumer confidence, continued historic low interest rates and, in the last quarter, an unusually mild Maine winter.” Lucas, who serves as the President of the Maine Association of Realtors, adds, “With little snow cover and mild temperatures, the ‘hibernation factor’ did not have an opportunity to develop.


We are seeing steady sales across the price spectrum with brisk activity in the first-time home buyer market, multi-family properties and the luxury home market with high end homes attractively priced. Investors are viewing real estate as a safe haven. Buyers across the board who are ready, willing and able to get into the market are recognizing the door may soon be closing on the current pricing, as the inventory continues to shrink.”


Below are two charts showing statistics for Maine and its 16 counties. The first chart lists statistics for the month of February only, statewide. The second chart compares the number of existing, single-family homes sold (units) and volume (MSP) during the months of December 2010 and 2011 and January and February of 2011 and 2012.