Home > News > featured news > York County real estate market sees double-digit sales slump

York County real estate market sees double-digit sales slump

Maine Association of Realtors | May 03, 2019

Real estate agents say continued tight inventory and fewer than usual purchases in January contributed to a double-digit decrease in York County housing sales in the first quarter of this year compared to the same period in 2018. Figures released last week by the Maine Association of Realtors show that there were 501 existing single-family homes sold countywide from Jan. 1 through March 31 of this year – down from 560 in 2018, a decrease of 10.5 percent. Statewide, existing home sales were down 5.58 percent for the first quarter.

Spotlight

BLOCKCHAIN AND PROPERTY IN 2018: AT THE END OF THE BEGINNING

Driven primarily by private sector investment, blockchain-based technologies are being developed to address a number of land and property related challenges. This paper examines how those technologies have been applied to land registries and real estate to date and considers how blockchain and registries will evolve going forward.11 High friction transactions are hardwired into the structure of modern real estate markets. As a result, legacy infrastructure in the sector is slow, expensive, and brittle. For the median home sold in the United States, transaction costs can constitute up to 10% of the total sales price. Entire industries have emerged for the sole purpose of capitalizing on the inefficiencies that exist around property transfers. The situation in less developed markets is often even more cumbersome.

More featured news

Spotlight

BLOCKCHAIN AND PROPERTY IN 2018: AT THE END OF THE BEGINNING

Driven primarily by private sector investment, blockchain-based technologies are being developed to address a number of land and property related challenges. This paper examines how those technologies have been applied to land registries and real estate to date and considers how blockchain and registries will evolve going forward.11 High friction transactions are hardwired into the structure of modern real estate markets. As a result, legacy infrastructure in the sector is slow, expensive, and brittle. For the median home sold in the United States, transaction costs can constitute up to 10% of the total sales price. Entire industries have emerged for the sole purpose of capitalizing on the inefficiencies that exist around property transfers. The situation in less developed markets is often even more cumbersome.

Related News

REAL ESTATE INVESTMENT

First National Realty Partners Acquires Southland Crossings, a 245,678 SF Giant Eagle-Anchored Shopping Center in Boardman, OH.

First National Realty Partners | December 10, 2021

First National Realty Partners (FNRP) is pleased to announce the acquisition of Southland Crossings, a grocery-anchored shopping center located at 1150-1300 Doral Drive, Boardman, OH. Southland Crossings is a 245,678 SF shopping center that is 91% occupied and anchored by a 77,592 square foot Giant Eagle Supermarket. The property is located approximately 6.0 miles south of downtown Youngstown and adds to FNRP's rapidly growing portfolio of premier real estate assets in Ohio and throughout the United States. "We are excited to acquire Southland Crossings and add Giant Eagle to our portfolio, In addition to having high-performing junior anchor tenants including Ross, PetSmart, DSW, and Michaels, Southland Crossings is shadow anchored by Lowe's and Walmart, who help drive foot-traffic to the center". -Matt Annibale, Senior Director of Acquisitions at First National Realty Partners. First National Realty Partners, LLC (FNRP) is a leading vertically integrated real estate investment firm focused on acquiring institutional quality commercial real estate throughout the United States. The firm is an active, opportunistic, and value-add investment firm that is equipped to operate in all facets of the real estate acquisition process as an investor, developer, and asset manager of commercial real estate. FNRP enhances the value of properties through hands-on management and targeted investments that result in superior, risk-adjusted returns for its investors.

Read More

REAL ESTATE INVESTMENT

Leading KSA Real Estate Developer Dar Al Arkan launches its first project in Europe

prnewswire | November 02, 2020

Dar Al Arkan, the main land improvement organization in KSA, has reported the dispatch of its first European private task. The 500,000 sqm extravagance advancement will be situated in Bosnia and Herzegovina inside a staggering woods only a short ways from the nation's capital, Sarajevo. The venture is scheduled to kick things off in the early piece of 2021. The organization has made sure about the metropolitan and government endorsement on this task which will be the biggest single land venture in Bosnia and Herzegovina. Announcing the launch, Mr. Yusuf bin Abdullah Al-Shalash, Chairman of Dar Al Arkan Real Estate Development, said: "Today, Dar Al Arkan has placed a golden opportunity into the hands of investors. Bosnia and Herzegovina is a cultural destination with an authentic history, traditions and a wonderful natural environment. The country is growing in popularity, so this is a perfect investment for those wishing to be part of the country's developing luxury tourism and hospitality sector." He also added: "This will be a wonderful haven for those wishing to relax within a private, second-home gated community surrounded by luxury facilities and services. We believe the development will attract both Bosnian and international investors." The task will consolidate contemporary estates motivated by neighborhood engineering and highlight up-to-date insides that amicably mix with the fabulous perspectives. Offices will incorporate a clubhouse, an inn and spa, an exercise center, food and refreshment outlets and a youngsters' play area. About Dar Al Arkan Real Estate Development Company Dar Al Arkan Real Estate Development Company is a Saudi joint stock company, active in real estate development and headquartered in Riyadh, KSA. The company was founded in 1994 by six prominent business families who have, between them all, vast experience in real estate development. Its activity is to purchase and own real estate and land, general contracting, construction of commercial and residential complexes. Throughout its long history, the company has executed a number of successful real estate projects and contributed to the development of efficient real estate solutions for the regional market, through more than 30 commercial, residential, and real estate projects. Dar Al Arkan Real Estate Development Company is a major contributor playing an important role to help achieve the goals of Vision 2030 in regard to real estate development.

Read More

REAL ESTATE INVESTMENT

JLL arranges $690M financing for 44-property industrial portfolio

JLL | December 02, 2021

JLL announced today that its Capital Markets group has arranged a $690 million financing for a portfolio of 44 net-leased industrial, office and data center properties totaling 6.85 million square feet in high-growth markets across the United States. JLL worked on behalf of the borrower, Blackstone Real Estate Income Trust (BREIT), to place the two-year, floating-rate, non-recourse loan with Wells Fargo Bank. The financing comprises a term loan and a revolving credit facility. Additionally, the New York Agency of Singapore-based United Overseas Bank (UOB) joined the financing, committing half of the arranged capital post-closing. The portfolio consists of single- and multi-tenant mission-critical assets with diverse functions that include warehouse, bulk warehouse, light industrial, office, laboratory, truck terminal, data center and raw land. With an average age of 17 years, the properties feature an average clear height of 28 feet, 87 suites and 1,148 dock doors. It is more than 80% leased to industry-leading tenants with a proven history of significant tenant investment and that represent a diverse range of industries, including e-commerce, web services, pharmaceuticals and logistics. Situated on a total of nearly 611 acres, the portfolio properties are in 10 states in high-growth, highly connected markets such as Raleigh-Durham and Greensboro, North Carolina; Boston, Massachusetts; El Paso, Texas; Atlanta, Georgia; Chicago, Illinois; Salt Lake City, Utah; and Minneapolis, Minnesota. JLL's Capital Markets debt advisory team representing the borrower was led by Executive Managing Director Trey Morsbach, Managing Director Michael Cosby and Analysts Bo Beidleman and Ryan Pollack. JLL's Capital Markets group is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries. About JLL JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $16.6 billion, operations in over 80 countries and a global workforce of more than 95,000 as of September 30, 2021. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated.

Read More

REAL ESTATE INVESTMENT

First National Realty Partners Acquires Southland Crossings, a 245,678 SF Giant Eagle-Anchored Shopping Center in Boardman, OH.

First National Realty Partners | December 10, 2021

First National Realty Partners (FNRP) is pleased to announce the acquisition of Southland Crossings, a grocery-anchored shopping center located at 1150-1300 Doral Drive, Boardman, OH. Southland Crossings is a 245,678 SF shopping center that is 91% occupied and anchored by a 77,592 square foot Giant Eagle Supermarket. The property is located approximately 6.0 miles south of downtown Youngstown and adds to FNRP's rapidly growing portfolio of premier real estate assets in Ohio and throughout the United States. "We are excited to acquire Southland Crossings and add Giant Eagle to our portfolio, In addition to having high-performing junior anchor tenants including Ross, PetSmart, DSW, and Michaels, Southland Crossings is shadow anchored by Lowe's and Walmart, who help drive foot-traffic to the center". -Matt Annibale, Senior Director of Acquisitions at First National Realty Partners. First National Realty Partners, LLC (FNRP) is a leading vertically integrated real estate investment firm focused on acquiring institutional quality commercial real estate throughout the United States. The firm is an active, opportunistic, and value-add investment firm that is equipped to operate in all facets of the real estate acquisition process as an investor, developer, and asset manager of commercial real estate. FNRP enhances the value of properties through hands-on management and targeted investments that result in superior, risk-adjusted returns for its investors.

Read More

REAL ESTATE INVESTMENT

Leading KSA Real Estate Developer Dar Al Arkan launches its first project in Europe

prnewswire | November 02, 2020

Dar Al Arkan, the main land improvement organization in KSA, has reported the dispatch of its first European private task. The 500,000 sqm extravagance advancement will be situated in Bosnia and Herzegovina inside a staggering woods only a short ways from the nation's capital, Sarajevo. The venture is scheduled to kick things off in the early piece of 2021. The organization has made sure about the metropolitan and government endorsement on this task which will be the biggest single land venture in Bosnia and Herzegovina. Announcing the launch, Mr. Yusuf bin Abdullah Al-Shalash, Chairman of Dar Al Arkan Real Estate Development, said: "Today, Dar Al Arkan has placed a golden opportunity into the hands of investors. Bosnia and Herzegovina is a cultural destination with an authentic history, traditions and a wonderful natural environment. The country is growing in popularity, so this is a perfect investment for those wishing to be part of the country's developing luxury tourism and hospitality sector." He also added: "This will be a wonderful haven for those wishing to relax within a private, second-home gated community surrounded by luxury facilities and services. We believe the development will attract both Bosnian and international investors." The task will consolidate contemporary estates motivated by neighborhood engineering and highlight up-to-date insides that amicably mix with the fabulous perspectives. Offices will incorporate a clubhouse, an inn and spa, an exercise center, food and refreshment outlets and a youngsters' play area. About Dar Al Arkan Real Estate Development Company Dar Al Arkan Real Estate Development Company is a Saudi joint stock company, active in real estate development and headquartered in Riyadh, KSA. The company was founded in 1994 by six prominent business families who have, between them all, vast experience in real estate development. Its activity is to purchase and own real estate and land, general contracting, construction of commercial and residential complexes. Throughout its long history, the company has executed a number of successful real estate projects and contributed to the development of efficient real estate solutions for the regional market, through more than 30 commercial, residential, and real estate projects. Dar Al Arkan Real Estate Development Company is a major contributor playing an important role to help achieve the goals of Vision 2030 in regard to real estate development.

Read More

REAL ESTATE INVESTMENT

JLL arranges $690M financing for 44-property industrial portfolio

JLL | December 02, 2021

JLL announced today that its Capital Markets group has arranged a $690 million financing for a portfolio of 44 net-leased industrial, office and data center properties totaling 6.85 million square feet in high-growth markets across the United States. JLL worked on behalf of the borrower, Blackstone Real Estate Income Trust (BREIT), to place the two-year, floating-rate, non-recourse loan with Wells Fargo Bank. The financing comprises a term loan and a revolving credit facility. Additionally, the New York Agency of Singapore-based United Overseas Bank (UOB) joined the financing, committing half of the arranged capital post-closing. The portfolio consists of single- and multi-tenant mission-critical assets with diverse functions that include warehouse, bulk warehouse, light industrial, office, laboratory, truck terminal, data center and raw land. With an average age of 17 years, the properties feature an average clear height of 28 feet, 87 suites and 1,148 dock doors. It is more than 80% leased to industry-leading tenants with a proven history of significant tenant investment and that represent a diverse range of industries, including e-commerce, web services, pharmaceuticals and logistics. Situated on a total of nearly 611 acres, the portfolio properties are in 10 states in high-growth, highly connected markets such as Raleigh-Durham and Greensboro, North Carolina; Boston, Massachusetts; El Paso, Texas; Atlanta, Georgia; Chicago, Illinois; Salt Lake City, Utah; and Minneapolis, Minnesota. JLL's Capital Markets debt advisory team representing the borrower was led by Executive Managing Director Trey Morsbach, Managing Director Michael Cosby and Analysts Bo Beidleman and Ryan Pollack. JLL's Capital Markets group is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries. About JLL JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $16.6 billion, operations in over 80 countries and a global workforce of more than 95,000 as of September 30, 2021. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated.

Read More

More featured news