Portland Condo Market Report – April 2010

With the federal tax credit set to expire in 10 days, how is the Portland condo market fairing?

Currently there are 199 Portland Maine condos for sale with a median list price of 200K.  To date 62 units have sold in 2010 at a median price point of 196K.  A whopping 51 more units are currently pending in the system.

Overall the market is very strong and it would actually be even stronger if the government would loosen up its stringent FHA lending policies as many condo associations in Portland are not FHA approved making it difficult for would be home buyers to purchase a condo unless they are putting down 10% to 20% or more.

Please feel free to reach out anytime for an overview real estate report on Portland Maine via phone 207-650-5383 and/or email john@greentreemaine.com