Portland Maine Real Estate Home Sales & Market Values Portland is the largest housing market in Maine and in 2007 included 26% of all single family and condominium sales in Cumberland County. 2007 Real Estate Sales & Values Prop # of Sold Price Days on Mkt % of List Type Units Median Average Med Avg Med Avg S-Family 488 $245,000 $280,872 40 72 98% 98% Condo 287 $220.000 $249,724 73 102 97% 96% Multi 117 $302,000 $339,981 55 88 94% 95% Land 18 $119,700 $193,467 95 193 96% 94% Individual single family home sales dropped in Portland in 2007. Total unit sales were down 14% (80 units) compared to 2006. Unlike many parts of the United States, average and median pricing was up 4.7% and and 1.7% respectively. The condo market also experienced a decrease in sales as 24 fewer units were sold, reflecing a decrease of 11%. Condo selling prices also demonstrated strength in 2007, with an average price of $200,000 and a median price of $249,724. 2006 Real Estate Sales & Values Prop # of Sold Price Days on Mkt % of List Type Units Median Average Med Avg Med Avg S-Family 568 $233,950 $276,248 50 73 97% 98% Condo 311 $200.000 $239,967 62 91 97% 96% Multi 125 $332,500 $375,752 54 73 98% 98% Land 26 $80,000 $110,000 61 107 85% 88% In 2006 Portland single family home sales posted an actual increase in units sold, as 568 sales were completed. This represented an increase of 39 units or 7%. Condos sales, however, suffered as only 311 units were sold compared to 367 in 2005. Pricing for single family homes dropped slightly at 3.8%, which was much better than many other communities in Southern Maine. In 2006 it took considerably longer to sell a property in Portland, whether it was a single family home or a condo. Days on Market was significantly longer than in 2005 for all types of properties. Southern Maine Information Resources Our Quality of Life Reports include detailed neighborhood and town statistics on local demographics, the environment, cost of living, wealth distribution, finance and income and crime. You can also access Educational information highlighted by town, school district and individual schools. Maine is a large and beautiful state. Our report, A Quick Tour of Maine includes a brief summary of Maine from its most northern and remote parts all the way to Southern Maine, the business and residential hub of the state. Reprinted with permission from Downeast Magazine, you can also download a copy. Home Market Sales & Statistics are available for YTD 2007, 2006, 2005 and 2004. If you do not see results from the particular town or city you are interested in, we can prepare any custom report you might need. Relocation to Portland & Southern Maine If you are considering a move to Portland or the Southern Maine area, be sure to take advantage of our online Relocation Services, a comprehensive guide to interactive relocation tools. Our services include access to local market information, neighborhood and school comparisons and a wealth of proven home buying advice. If you are interested in receiving automatic email alerts of properties that match your predetermined buying requirements, you might want to consider our Market Watch feature. This is a great way to stay current with the market whether you are buying now or in the future.