Portland ME Real Estate Analysis for Homes and Condos » portland maine

January 2009 Portland Housing results

admin — Mon, 02 Feb 2009 20:35:04 +0000

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.

Portland Maine Year in Review 2008

admin — Wed, 14 Jan 2009 18:37:24 +0000

In Portland Maine, the hub of southern Maine real estate, 2008 ended with markets down approximately 15% in transaction volume levels, 8-10% in pricing and the Days on Market held steady at 72 for SF homes and around 100 for condos. In total 406 homes and 247 condos sold in 2008, down from 490 homes and 288 condos in 2007.
Here are a couple year by year graphs for the Home and Condo Markets in Portland Maine.

Average sold prices – Homes and then Condos

Number of Properties Sold Homes and then Condos

For more Maine housing statistics on Portland and other southern and Coastal Maine communities please visit www.mymaineproperty.com

Portland Maine November 2008 real estate report

admin — Wed, 03 Dec 2008 18:26:14 +0000

For the month ending 2008, the Portland Maine real estate market saw 51 single family and condo transactions occur at an average price of 259K after sitting on the market for 75 days. In November 2007 47 transactions occurred at an average price of 265K. Thus volume was up 9% year over year and pricing is down 6% from the year prior. Month over month transaction volume was up 31% and average sales prices were down 4%.