Cumberland County Sales and Median Prices Up

In reviewing the latest stats from MREIS (Maine Real Estate Information System), it's encouraging to note what has happened in Cumberland County over the past "rolling quarter" (June through August).  Comparing those three months for 2007 vs. the same time period in 2006, Cumberland County has experienced a 4.65% increase in the number of homes sold (947 in 2006 and 991 this year).  The median sales price for this time frame increased 3.6% this year over last (from $250,000 to $259,000).

The only other counties to post significant gains were Penobscot and Piscatiquis, with Lincoln and York making some modest gains.  All the other Maine counties are down on both counts (number of sales and median sales price).

We all need to watch this trend data diligently as the local real estate market continues its current ride.

David Whitten, Watching the Data