Cumberland Maine Real EstateSearch for Homes & Condos for Sale | Community ProfileCumberland is located just 15 minutes north of Portland. This suburb of Portland is one of the fast growing communities of Cumberland County.
 Stretching from the coast of Casco Bay to the rolling inland hills made up of apple orchards, small family farms, pastures and horse land, Cumberland offers an easy commute to most major area employers, shopping and medical services yet provides a relaxed small-town atmosphere. Located just off the coast in Casco Bay is the charming island of
Great Chebeague. This island was a part of the town of Cumberland until
July 1, 2007, when it formed its own local government. Educational ExcellenceCumberland
boasts an outstanding school system which is known to excel in both
academics and athletics. As part of MSAD 51, local schools include
Wilson kindergarten, North Yarmouth and Drowne Rd elementary and Greely
middle and high schools. Cumberland's school budget is $6,517 per
student compared to a national average of $5,691. The student/teacher
ratio is 12.3. Cumberland Real Estate Sales Cumberland real estate is unique in that it varies dramatically from the Cumberland Foreside with its coastal waterfront homes on Casco Bay, to its suburban neighborhoods and pastoral mini-estates to the west. Cumberland retains its rich farming history through the Cumberland Fair, one of the state’s largest agricultural fairs, which has been held yearly in since 1868.
A quick glance at properties for sale in Cumberland will reveal that the town has a wide variety of single family homes available, including some very expensive and exclusive properties. Compared to other parts of southern Maine, Cumberland offers some very compellingly competitive prices for ocean front and ocean view homes. | | | | 2018 Sales - YTD Results Through August
| | | |
| | Prop
Type |
| Median Prices YTD
2018 | 2017
| | Unit Sales YTD
2018 | 2017
|
| % of
List Price
|
| DOM | | | | | | | | | | | |
| | Homes | | $405,000 | $409,500 | | 103 | 120
| | 98.78%
| | 25
| | | Condos | | $392,500 | $395,000 | | 6 | 3
| | 101.95%
| | 5
| | | | | | | | | | | | | |
| | All housing data has been compiled from research by Maine Home Connection using information from the Maine Real Estate Information System (MREIS) |
After a record high at 188 units sold in 2016, Cumberland sales decreased to 163. This decline brought the numbers back to where they have been floating since 2013.
The median sales price, however, increased significantly in 2017 and ended the year at $410,781 – an increase of 14.04%. As mentioned previously, the availability of coastal homes effected this number as 18 homes with water frontage were sold in 2017, compared to 13 in 2016. The median price for those homes was $645,000. In 2017 there was a small bump in homes sold over $1,000,000, as nine such transactions were completed versus seven in 2016.
Overall, the time to sell a home (DOM) was just 16 in 2017, a staggering 54.24% decrease from the previous year.
Condo sales were a very small part of the Cumberland real estate market at less than 4% of the total. Land sales decreased slightly with just 16 parcels sold as opposed to 2016 when 24 parcels sold.. | | | Cumberland Sales History | | Year | Units | Price | | 2017 | 162 | $412,891 | 2016
| 188 | $360,219
| 2015
| 151 | $364,900
| | 2014 | 167 | $340,000
| | 2013 | 159 | $357,500
| | 2012 | 105
| $336,000 | | 2011 | 93
| $300,000 | | 2010 | 78
| $261,150 | | 2009 | 72
| $286,502 | | 2008 | 81
| $355,000 | | 2007 | 81
| $345,000 | | 2006 | 93
| $367,500 | | 2005 | 95
| $349,000 | | | | |
Annual Home Sales
2017 Market Report
Downlad Results
Cumberland
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