January 2009 Portland Housing results

Transaction levels in the Portland Maine real estate markets for very low in January of 2009. 20 residential properties sold at an average price of 214K compared with 42 homes selling at an average price of 222K in 2008. This represents a transaction volume drop of about 50% and a pricing drop of 4%.

As of this writing, 389 homes were listed on the market compared with 391 in December and thus the inventory has stabilized for the winter months. COLD weather and the economic crisis are the biggest contributers to the southern Maine real estate housing market slowedown currently.