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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

Maine Quality of Life 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.
Tour of Maine 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.
Maine Home Sales Reports 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

Request A Relocation Package Today!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.