3rd Quarter 2009 Portland Home Sales Report

The 3^rd Quarter of 2009 saw 189 Portland residential home sales transactions close, two more than for the same time period in  2008.  The median price point for this period was 203K, off  almost 10% from 222K in 2008.  The median Days on Market was 47, similar to 43 a year prior.  One can see prices continued to trend down in 2008, but have for the most part stabilized in 2009.  After an uptick during the economic crisis, the Days on Market median has also stabilized.

Volume for the first 3 quarters 2009 is off about 20% from 2008 primarily due to the very weak 1^st and 2^nd qtr 2009 as a result of the economic crisis.

For more information and furthe reports on real estate in southern Maine, please visit www.MyMaineProperty.com or contact me directly at 207-650-5383.

Thanks for reading,

John Herrigel
Maine Associate Broker