Home Sales and Prices Rise in June

Augusta (July 21, 2016)— Home values in Maine are rising at a healthy pace, according to statistics released by the Maine Association of Realtors. Realtors across the state of Maine reported 1,960 transactions of existing, single-family homes during the month of June, leading to a sales increase of 9.62 percent in the past year. Sales prices for those homes rose 5.49 percent to a median sales price of $198,000. The MSP indicates that half of the homes were sold for more and half sold for less.

The National Association of Realtors (NAR) today announced a 3.1 increase in sales nationwide in June; the national MSP of $249,800 represents a 5.0 price jump over the past 12 months. Regionally, the Northeast experienced a 5.6 increase in sales and a 1.4 percent rise in prices, to equal a regional MSP of $284,800.

Ed Gardner, 2016 President of the Maine Association of Realtors, says, “As the data shows, real estate sales and values continue to be strong, and conversations with Realtors across Maine indicate continued confidence in the marketplace. New construction, including spec homes, are more prevalent than we’ve experienced in recent years. The ‘days on market’ for sold properties has been declining during 2016, indicating qualified buyers are making their moves.”

Gardner added, “A recent report released by the U.S. Commerce Department stated that the value of owning a home in the U.S. has never been greater, due to continued low mortgage interest rates and prices that have recovered and grown since the recession. Contact your local Realtor for guidance to determine if owning a home, with its federal and state tax deductions, is financially feasible for your household.”

Below are two charts showing statistics for Maine and its 16 counties. The first chart lists statistics for the month of June only, statewide. The second chart compares the number of existing, single-family homes sold (units) and volume (MSP) during the rolling quarter of April, May and June of 2015 and 2016.

 

Maine Real Estate Statistics – June 2016 Housing Report—7/21/16 JUNE ONLY CHART June 1-30, 2015 – June 1-30, 2016
NUMBER OF UNITS						MEDIAN SALES PRICE
2015		2016		%Change		2015		2016		%Change
STATEWIDE	1788		1960		9.62%		$187,700		$198,000		5.49%
ROLLING QUARTER CHART From April 1, 2015 – June 30, 2015 and April 1, 2016 – June 30, 2016
NUMBER OF UNITS						MEDIAN SALES PRICE
County	2015		2016		%Change		2015		2016		%Change
STATEWIDE	4155		4917		18.34%		$184,000		$190,000		3.26%
Androscoggin	264		312		18.18%		$137,250		$149,000		8.56%
Aroostook	125		150		20.00%		$90,000		$84,750		-5.83%
Cumberland	1159		1266		9.23%		$249,000		$267,700		7.51%
Franklin	72		112		55.56%		$136,250		$125,000		-8.26%
Hancock	164		220		34.15%		$199,000		$187,500		-5.78%
Kennebec	355		425		19.72%		$139,000		$140,000		0.72%
Knox	138		147		6.52%		$184,500		$225,000		21.95%
Lincoln	104		157		50.96%		$167,000		$200,000		19.76%
Oxford	175		214		22.29%		$138,000		$148,000		7.25%
Penobscot	365		495		35.62%		$133,000		$135,000		1.50%
Piscataquis	66		83		25.76%		$94,500		$81,450		-13.81%
Sagadahoc	114		148		29.82%		$179,000		$192,450		7.51%
Somerset	111		146		31.53%		$84,000		$87,250		3.87%
Waldo	113		129		14.16%		$150,000		$162,000		8.00%
Washington	51		63		23.53%		$99,000		$85,000		-14.14%
York	779		850		9.11%		$231,500		$235,900		1.90%

 

U.S. Home Sales Rebound Signals Strong Spring Selling Season

WASHINGTON U.S. home resales rebounded more than expected in March as supply improved, suggesting the housing market recovery remained intact despite signs that economic growth probably stalled in the first quarter.

The sales surge at the start of the spring selling season was a sign of confidence in the economy, and the momentum is expected to be sustained given low mortgage rates, recent stock market gains and a firming labor market, analysts said.

"There cannot be too much wrong with the economy if consumers keep buying new homes. It shows confidence," said Chris Rupkey, chief economist at MUFG Union Bank in New York.

The National Association of Realtors said on Wednesday that existing home sales surged 5.1 percent to an annual rate of 5.33 million units last month, beating economists' expectations for a 3.5 percent increase. Sales were up 1.5 percent from a year ago.

Existing home sales rose in all four regions in March, jumping by 11.1 percent in the Northeast and 9.8 percent in the Midwest. Single-family home sales vaulted 5.5 percent, while purchases of condominiums rose 1.8 percent.

Sales were concentrated in the middle part of the market, with lack of inventory constraining transactions in the low-end segment.

"It points to a very strong start to the crucial spring selling season, and initial anecdotal indications point to this positive momentum being sustained in coming months," said Millan Mulraine, chief economist at TD Securities in New York.

Maine Events for March 2016

  

Acadia Winter Festival

9 Atterbury Circle
Winter Harbor, Maine 04693 Phone: (207) 288-1310 Winter Harbor

          

Feb 26 thru Mar 06, 2016. You're invited to be a part of the first Acadia National Park Centennial celebration! Bring your family and friends and be part of the winter magic and fun! Presented by Schoodic Institute and Camp Beech Cliff, this event offers over 45 activities in ten days on both MDI and Schoodic Point. Outdoor activities include snow shoeing, cross country skiing, outdoor dutch oven cooking, art and photography. Indoors you'll find hands-on workshops, lectures, movies, wood-carving, art presentations and more. Many events are free and open to the public and others have workshop fees. See the Title link above for a schedule of events, community sponsors and partners, and contact info. 

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Annual Maple Syrup Festival & Irish Celebration - Curran Homestead

372 Fields Pond Road
Orrington, Maine 04474 Phone: (207) 745-4426 Orrington

          

Mar 19, 2016. Curran Homestead annual Maple Syrup Festival and Irish Celebration. Sap will be turned into maple syrup on the wood stove, and there will be Irish music and food in celebration of the Curran family's Hibernian ancestry. Event is from 10 a.m. to 2 p.m.

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Skowhegan Maple Festival

Main Street
Skowhegan, Maine Phone: (207) 612-2571 Skowhegan

          
Mar 25 thru Mar 27, 2016. Celebrating Somerset County's status as the top maple-producing county in the United States, this festival of all things maple offers fun activities and events for all ages with a talent show, pancake breakfast, marshmallow roasting, a scavenger hunt, a Rotary-sponsored beer, wine, and food tasting, and more. The Festival leads up to Maine Maple Sunday where sugarhouses around the state open their doors to the public offering free maple syrup samples and demonstrations on how pure Maine maple syrup is made. Many farms offer games, activities, treats, sugarbush tours and more. 

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Belfast Winter Frost - Waterfall Arts

High Street
Belfast, Maine 04915 Phone: (207) 338-3370 Belfast

          

Mar 01, 2015. First ever Belfast Winter Frost with ice skating, snow sculpture competition, snowshoeing, sledding challenges, snowball art competition, music with the Belfast Bay Fiddlers, food vendors and an indoor Flea Market. All participants receive coupons for discounted food items. Festival is free and open to the public from 12 p.m. to 5 p.m. 

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Bath Blarney Days

Bath, Maine Phone: (207) 442-7291 Bath

          

Mar 13 thru Mar 17, 2015. For a few days each March, the City of Ships becomes the City of the Irish as Downtown Bath celebrates Bath Blarney Days. Join us in downtown Bath for a week of fun, including Maine's largest St. Patricks Day Parade and many more activities. 

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St. Patrick's Day Parade in Portland

Commercial Street
Portland , Maine 04104 Phone: (207) 232-7786 Portland

          

Mar 15, 2015. The Irish American Club is excited to once again honor our Patron Saint and the Irish American community in Greater Portland as we host the 2015 St. Patrick's Parade on March 15, 2015. As usual Pipe Bands, dignitaries and the flags of all the counties of Ireland will be on display on Commercial Street as we celebrate our Irish heritage, culture and traditions. For St. Patrick's Day parade details as they are developed see the Title link above or the Facebook page.

Maine Home Sales & Values Up for 2015

SALES UP IN DECEMBER:  In a press release to the media today, home sales increased 15.56% comparing December 2015 to December 2014.  The median sales price (MSP) was $177,750 a -2.23% decrease in that same time period.  NAR reports home sales decreased while prices increased nationally.  For the northeast, sales and prices were up comparing December 2015 to December 2014.  For the complete report, Click Here.

 

SALES AND VALUES UP FOR 2015:  For calendar year 2015, Maine REALTORS sold 15,672 homes, an increase of 10.97% over 2014.  The statewide median sales price for calendar year 2015 increased 3.14% to $180,500.  For more information, view the press release, Click Here.

Maine home sales, median prices rise in September

Sales of homes in Maine last month increased by 14% compared to the year before, while the median price increased by 6.7% to $189,900, RE/MAX Integra of New England said Thursday.

Across New England, total sales were up 15% from September 2014 through last month, according to the report, which includes single-family homes and condos.

A different real estate report, released Thursday by the Maine Realtors Association, said sales of just single-family homes in Maine were up more than 17% in September compared to the previous year.

Marie Flaherty, president of the Maine Association of Realtors, said in the report that many sellers have put their homes on the market because of renewed market confidence. Even with new construction in Maine, the existing home market supply is below five-year averages in many areas, she said.

Cumberland and York counties saw the most sales of single-family homes, more than doubling the total in any other county and growing at 20% and 12%, respectively. But other counties saw larger year-over-year growth.

Sales in Washington County increased by 41% from a year earlier, Lincoln County's sales increased 34% and Knox County's sales increased 32%.

"An increased interest in purchasing second homes has helped markets beyond the city limits," Flaherty said in the report. "Stable market conditions and the discussion of increasing interest rates are part of some decisions as well."

"While we're seeing the market slow down, as it typically does after the busy summer season, it's encouraging to see continued year-over-year growth as we move into the fall,"

 

Buying a Home is 35% Less Expensive than Renting !

 

In the latest Rent vs. Buy Report from Trulia, they explained that homeownership remains cheaper than renting with a traditional 30-year fixed rate mortgage throughout the 100 largest metro areas in the United States.
The updated numbers actually show that the range is from an average of 16% in Honolulu (HI), all the way to 55% in Sarasota (FL), and 35% Nationwide!

The other interesting findings in the report include:

• Interest rates have remained low and even though home prices have appreciated around the country (3.9%), they haven’t greatly outpaced rental appreciation (3.7%). “In the past year, these two trends have made homeownership even more affordable compared with renting.”
• Some markets might tip in favor of renting if home prices increase at a greater rate than rents and if – as most economists expect – mortgage rates rise, due to the strengthening economy.
• Nationally, rates would have to rise to 10.6% for renting to be cheaper than buying – and rates haven’t been that high since 1989. 

Bottom Line

Buying a home makes sense socially and financially. Rents are predicted to increase substantially in the next year, so lock in your housing cost with a mortgage payment now.

Exploring Maine Coast by Windjammer

                                    By:Moira McCarthy

                        

Hauling on a windjammer, Bridget Besaw Gorman, courtesy Lewis R. French


Soon, the air will be warmer and the coast of Maine will be ready for you to enjoy. A great way to do that is a windjammer vacation. Each year, more people discover how truly unique and exciting a Maine windjammer vacation can be. Three to six-day themed cruises are designed to suit guests' passions and hobbies while they experience a sailing getaway along the scenic coast of Maine.


The 2015 list of specialty cruises include choices for the mind and body. For instance,  passengers can express their creativity with a writers' workshop or photography course where the scenery is the inspiration. Knitting cruises are popular with fiber artists with a passion for their hobby and the great outdoors.

For the fitness lover, you can spend the week learning ways to improve your health and limber up by doing yoga on the deck of a windjammer! Or, for the dreamer in you, stargaze the night sky with an astronomy cruise.

Maine is known for its foodie scene. The windjammers' on-the-water chefs have galley kitchens where they turn out  incredible fare for their guests. Many ships have gourmet, wine, beer or even chocolate tasting cruises on tap for 2015, featuring guest chefs from award-winning restaurants, handpicked wines, craft beers and locally made chocolates.


For the wildlife watcher and naturalist - Wildlife watching is an adventure in Maine and seeking out the elusive whale is a hard task for most, but schooner captains seem to have all the luck finding finback, humpback and minke whales, and other marine life. While out on a cruise, guests are likely to see seals sunning themselves on the rocky coast, pelagic birds and eagles soaring overhead, and puffin colonies.


For the adventurer - Be completely immersed in sea life with experiential sailing instruction. Guests have the opportunity to steer, plot a course, stitch a ditty bag, and if interested, go aloft to stow the topsails. Become part of the crew and even participate in schooner races.


Travel beyond Penobscot Bay - Venture to the less visited ports and sail beyond the traditional Penobscot Bay territory. There are cruises that visit Boothbay Harbor and Down East, and even travel to Gloucester to participate in the Gloucester Schooner Race. Another vessel does unique excursion trips around Acadia National Park, where guests can explore the park by guided bus tour after sailing around the rocky coast of Mount Desert Island.


The 2015 season also includes cruises themed around pirates, lighthouses, foliage, Bastille Day, music, geology and more. For more info on specialty cruises, visit www.SailMaineCoast.com for more details and to book a cruise.