Portland residential real estate posts fantastic results in May 2010

The real estate markets of Portland Maine continued to post solid housing results. For the month ending May 2010, 81 residential transactions occurred at a median sold price of $205,000. The last time more than 80 homes and condos sold in one month was June 2008…almost 2 years ago!  Much of this large bump can probably be attributed to the first time home buyer tax credit and thus watch for even more impressive figures in the month of June.

The current pulse on the market remains strong, not quite the frenzy seen in March/April, but rates remain low and buyers are continuing to buy.  Homes for sale in Portland Maine, if priced appropriately, are selling within days and at asking or even above asking price points.   This regional market continues to fare much better than the mid coastal ME real estate market that includes Brunswick and Bath.