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Lewiston-Auburn Market Report November 2010

posted Dec 14, 2010, 3:03 PM by Kristen Wheatley

How did home sales fare in the Lewiston/Auburn Maine area in November? Let's take a look.

Lewiston Maine 04240 Single Family Homes Sold in November 2010

Number of Homes Sold: 20
Average List Price:  $143,436
Average Sale Price: $136,956
Average Percentage of List $ At Sale: 95%
Average Days On Market: 103
% Distressed Properties of Total Sold: 20% (2 bank owned, 1 short sale, 1 HAP program)
Number of Homes Currently Listed:  153
Number of Homes Pending Sale:  25

Auburn Maine 04210 Single Family Homes Sold in November 2010

Number of Homes Sold:  8
Average List Price: $101,691
Average Sale Price:  $97,062
Average Percentage of List $ At Sale: 95%
Average Days On Market: 121
% Distressed Properties of Total Sold: 37.5% (2 bank owned, 1 short sale)
Number of Homes Currently Listed: 204
Number of Homes Pending Sale:  17

Comments: With fewer homes on the market, Lewiston continues to fare better than Auburn.  Both cities have a similar number of average days on market before a home sells, currently about 3-4 months.  Lewiston has both a higher list price and sales price, but homes in both of the twin cities are achieving an average of 95% of list price at the closing table. Prices for homes sold in November 2010 in Lewiston have increased 15% from homes sold in November of last year.  Auburn, however, had a dreary month of home sales this November with median sold prices decreasing 24% from November of last year.  At the moment, Auburn has a higher percentage of distressed properties (foreclosed and short sale) that appear to be impacting sales and prices.

If you are considering buying or selling a home in the Lewiston/Auburn Maine area, please give me a call. I would be happy to help you achieve your real estate goals.  For a detailed report of the market in your specific area, give me a call at 207-240-2250 or visit my website at www.homeseller.me.

Data for home sales taken from the Maine Real Estate Information Systems, Inc. (MREIS) and is deemed reliable, but not guaranteed.  Data used is from November 2009 and November 2010 and includes single family residential property.

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