Portland Maine Real Estate | Recent Home Sales and Pricing Reports
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Portland Maine Market Report

Home Sales Statistics & Results -  2017

Portland is the largest real estate market in Maine, for both single family homes and condos.  The overall market has been strong for several years and in 2016 a record 629 single family homes were sold. This represented a 5.5% increase over 2015.

The median selling price of $262,000 increased 4.9%, consistent with the results for all of Maine and represented the highest price ever recorded in in Portland. 2016 was also the sixth consecutive year of increasing median selling prices.

The charts below include up-to-date 2017 monthly sales and a review of the complete years 2016 and 2015 for all types of properties. 

 

2017 Sales: YTD Results Through August  

 
Prop
Type

Median Prices YTD
2017      |       2016 
 Unit Sales YTD
2017  |  2016 

Current
Inventory

%
U/C
         
 Homes $284,000$262,000 360435 132 62
 Condos $287,000$253,500 258215 141 61.7
           
All housing data has been compiled from research by Maine Home Connection using information from the Maine Real Estate Information System (MREIS). 
 

 

2016 Portland Real Estate Sales & Prices

 
Prop
Type

# of
Units

Sold Price
Median     |     Average

Days on Mkt
Med  |  Avg
 % of
List
 $/Sq Foot
           
 Homes 629 $262,000$306,926 1244 98.4 $193
 Condos 349
 $269,550$313,912 1858 98.6 $280
 Multi 147 $380,8000$419,432 1243 98.6 $158
 Land 27 $115,000$254,870 48130 92.9 NA

Following several years of dramatic growth, especially in new construction, condo sales declined marginally in 2016 as 349 units were sold compared to 361 in 2015. While overall median pricing increased 7.3%%, the pricing of resale units did show price improvement year-over-year, and has continued to increase since 2012. In many ways new construction, often at a high price-point, is creating a new market dynamic, especially as more units are completed.

 

2015 Portland Real Estate Sales & Prices

 
Prop
Type

# of
Units

Sold Price
Median     |     Average

Days on Mkt
Med  |  Avg
 % of
List
 $/Sq Foot
           
 Homes 595 $249,900$306,019 1650 97.3 $186
 Condos 360
 $251,150$325,446 2578 97.5 $260
 Multi 149 $349,450$413,525 1764 97.5 $137
 Land 14
 $55,750$63,482 213214 80.3 NA


Statewide Results:

Maine home sales set a new sales record in 2016 as 17,632 single family homes were sold, representing an increase of 11.1%. Sales in both Cumberland and York counties established new records as well, up 2.5% and 11.2% respectively. All of Maine’s 16 counties experienced increases in 2016 vs 2015.  Across the state total sales volume has improved each year from 2011 to 2016.

The median single family price of $189,000 represented a 5.0% increase over 2015 and was at its highest year-end level since 2007, when $194,000 was achieved. Overall, pricing was up in 12 of Maine’s 16 counties. The highest single month was June at $199,000. Between 2007 and 2011 median prices declined each year, reaching their lowest level in 2011 at $165,000.  From 2012 onward, pricing has increased each year, with the exception of 2014,

 
Portland Sales History
YearUnitsPrice
   
2016629
$262,000
2015595
$249,000
2014551
$238,000
2013528
$232,950
2012428
$223,950
2011375
$219,000
2010400
$219,450
2009413$218,000
2008406
$227,000
2007490
$245,000
2006570
$232,500
2005510
$249,900
   

Maine Property Sales

Sales-MaineSF-Units

Sales-ME2016-Condo Units


2016 Report
Download Market Repot

2016 Market Report


 

 



 
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