Back Bay

The Portland Back Bay (technically the Back Cove) encompasses the region just North of downtown Portland. Being a tidal basin that drains out at low tide the Back Cove  offers a spectacular 3.5 mile trail that snakes around (photo of trail) the shoreline. A great place to run, walk the dog or bike around coupled with its natural beauty has resulted in a strong local real estate marke and thus a wonderful place to call home.  As of November 2008, 11 single family homes and 4 condos were listed on the market at an average price of 303K and has been sitting on the market for 92 days. On the most desirable streets, just off the bay (Vannah, Clifton, Codman, Hersey, Chenery, Mackworth, Austin and George) you will be hard pressed to find a home South of 300K and most closer to 400+  Homes directly on the cove with wonderful waterviews rarely come on the market but if they do, figure 600 to 750. The Back Bay is most similar in shape and form to Portland’s Deering neighborhood.

Portland Back Cove Historical Real Estate Market Report.
28 sold to date as of November 10th 2008 at an average price of 270K and 50 days on the market. 37 homes and condo’s sold in 2007 at an average price of 293K and 56 days on the market. Thus demand has remained consistent and stable in this Portland ME micro real estate market with average prices 10K to 20K  higher than Portland Maine averages and the days on market 15 or so less than average.

Additional Portland Maine homes info available here