Scarborough Maine Real Estate

Home Sales and Residential Property Prices

Scarborough is a growing suburb of Greater Portland and includes many subdivisions of new and existing homes. With close proximity to the Portland business district, local shopping and the ocean, the area includes new construction developments and many recently built newer and elegant homes.

2011 Sales Results

Scarborough is one of the few communities in the greater Portland area that experienced an increase in the level of single family home sales in 2011 compared to 2010.  The median price of $329,450 represented an increase of 3.1%.  Unit sales of 197 were essentially flat - but still 20% below 2005, the highest year in the last decade.

Condo sales, which represent 13.5% of the market also improved in 2011 as 33 units were sold compared to 29 in 2010.

There was still a lot of competition among homes available for sale, as the % of list price statistic reflects.

2012 Sales Results

The chart below compares real estate sales for the most recent three month period compared to a similar time period a year earlier.  As illustrated, recent sales of single family homes are below levls of the previous period and pricing is also lower.

The Scarborough real estate market, like all markets across the country, is affected by many factors.  It is a relatively small market and often month-to-month results yield wide fluctuations.  Reviewing sales data on a three-month rolling average attempts to moderate the affects of seasonality, cyclicality and macroeconomics. 

During the three month period above sales continue to be strong for both single family homes and condos.  

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If you are considering a move to Scarborough 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.

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