Housing Markets Remain strong in May

Despite the expiration of the tax credit on April 3oth buyers of real estate in Portland Maine have not slowed down one bit.  Initially I was a bit nervous that there might be a slowdown in the market cutting short our housing recovery, but interest rates remain low and the overall economy appears to be improving.

Transaction volume was up 30% for the combined condo and housing market in Portland and median prices for the 56 closed deals clocked in at $233,000, up 6% from April 2009 and 19% from March 2010.  The median days on market was 53.

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