Portland ME Real Estate Analysis for Homes and Condos » South Portland ME

South Portland ME August 2011 Housing Update

admin — Mon, 22 Aug 2011 21:37:12 +0000

In South Portland ME the average price of homes and condos for sale dropped from 223K in July 2010 to 200k for July 2011, for a 10% decrease year over year. During the month of July 2011, 39 homes were sold in South Portland compared to the 18 one year earlier for a 117% increase in sales yearly. This increase in sales may be a reflection of the end of last year’s first time buyer tax credit in June 2010. Stable month over month pricing and stable markets in the Portland area led by lower interest rates make South Portland a great place to relocate!

Visit mymaineproperty.com to learn more about South Portland neighborhoods and nearby communities such as the Oakhurst neighborhood in Cape Elizabeth, ME.

This housing report has been compiled by John Herrigel a local Maine broker with Green Tree Realty and the Herrigel Group – MyMaineProperty.com For more information about southern and coastal Maine and South Portland Maine homes and condos for sale contact John directly at 207-650-5383 or via email at johnherrigel@gmail.com

Housing Report for South Portland Maine 2nd Quarter 2011

admin — Mon, 11 Jul 2011 18:01:39 +0000

For the 2nd quarter of 2011 the residential housing markets of South Portland, ME have decreased in median price by 10% to 193K. A total of 99 homes were sold in the second quarter last year, although just 62 homes sold this quarter, for a transaction volume decrease of 37%. Fewer homes and condos have sold this quarter, but this reflects the success of last year’s tax credit program for home buyers – transaction volumes are more similar to the 2009 year.

To learn more about a great neighborhood in South Portland, check out Willard Beach in South Portland, ME this summer. Visit a less travelled Maine beach just minutes from down town Portland and unwind from you busy week.

This housing update has been compiled by John Herrigel a local broker for coastal and southern Maine residential properties with the Herrigel Group. For more information about South Portland ME homes for sale, contact John Herrigel directly at 207-650-5383 or via email at johnherrigel@gmail.com

June 2011 Housing Report for South Portland ME

admin — Wed, 15 Jun 2011 13:34:58 +0000

The real estate market for homes and condos in South Portland ME had a greatly improved showing in May 2011 with 27 transactions up from 11 a month earlier. Although this is still much lower than last year’s 43 May sales, last year’s first time home buyer tax credit is a factor in inflating the number of transactions in 2010 by artificially improving the market. Pricing has increased to the median price of 216K compared with 199K for the same time period in 2010. This reflects a 9% price gain, year over year. Inventory is continuing to grow, from 124 houses and condos on the market in May to 166 beginning in June.

Want to learn more about South Portland? Visit the South Portland Public Library – summer reading programs begin soon. For more info on Maine real estate please reach out directly to John Herrigel, a local Maine broker with Green Tree Realty who can be reached at 207-650-5383 or via email at johnherrigel@gmail.com

South Portland Market Report – Nov 2009

admin — Mon, 28 Dec 2009 17:36:34 +0000

The South Portland real estate residential markets saw 27 transactions take place at a median price point of 184K in November 2009. 22 single family homes and 5 condos sold. The median days on market for these sold properties was only 29 days! This compares with 14 homes sold at a median price of 178K in November 2008.

The significant volume increase and also pricing increase month over month echo similar results seen in nearby communities including Portland. With interest rates remaining low and the extension of the first time home buyer tax credit expect the real estate markets of Southern Maine to continue to improve.

Thanks for reading.

Greater Portland Maine Housing Update

admin — Mon, 29 Jun 2009 11:21:44 +0000

As the spring season comes to an end, the state of Maine continues to weather a nasty bit of cloudy, rainy weather as of late, certainly not helping to encourage parties to buy property and real estate in Southern Maine. Interest rates spiked earlier this month but have since returned to very low levels. Buying activity remained quite strong in the communities surrounding Portland Maine, specifically the South Portland real estate markets. Look for a moderatly slow Summer season as the short sales and foreclosures continue to “gum up” and slow down the entire system. Thinking or renting instead of buying, take a look at Schneider Property Management, a Portland Maine apartment rental company when time permits.

South Portland Maine Housing Jan 2009

admin — Thu, 05 Feb 2009 18:04:12 +0000

The month of January 2009 saw 7 real estate transactions transpire in South Portland, the the South Portland Maine real estate market is slow and staying that way. In the year prior 13 transactions took place thus representing a volume drop of approximately 50%. Pricing seems to be remaining constant for the time being and all signs point towards a continued housing slowdown in Southern Maine real estate.