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

Home Sales Statistics & Results -  Monthly Update

Portland, Maine’s largest market for both single family homes and condos, saw its second consecutive decline in sales. While 2017 was the first decline since 2012, 2018 numbers didn't stray far behind, with a decrease of only .5% in single family units, and 2.2% in condos.

The median selling price of $316,250 represented an increase of 10.4%, consistent with the results for most of Maine and represented the highest price ever recorded in in Portland. 2018 was also the eighth consecutive year of increasing median selling prices.

The charts below include up-to-date 2019 monthly sales and a review of the complete years 2018 and 2017 for all types of properties.  

 

2019 Sales: YTD Results Through June

 
Prop
Type

Median Prices YTD
2019      |       2018
 Unit Sales YTD
2019  |  2018

% of
List Price

DOM
         
 Homes $327,000 
$310,000 251234 99.7%
 9
 Condos $325,000 
$323,500 
 211
186 98.8%
 21
           
All housing data has been compiled from research by Maine Home Connection using information from the Maine Real Estate Information System (MREIS). 
 

 

2018 Portland Real Estate Sales & Prices

 
Prop
Type

# of
Units

Sold Price
Median     |     Average

Days on Mkt
Med  |  Avg
 % of
List
 $/Sq Foot
           
 Homes 526 $316,250$362,976 8
28 97.4 $199
 Condos 387 $330,000$379,331 1348
 98.5 $333
 Multi 143 $527,500$570,379 9
30 961 $177
 Land 23 $115,000$199,261 39121 92.0 NA

Following last years all time high of 395 condo units sold, sales marginally declined 2.8% down to 387. The median pricing however, increased by 11%.

In many ways new construction, often at a high price-point, is creating a new market dynamic, especially as more units are completed.

 

2017 Portland Real Estate Sales & Prices

 
Prop
Type

# of
Units

Sold Price
Median     |     Average

Days on Mkt
Med  |  Avg
 % of
List
 $/Sq Foot
           
 Homes 529 $286,000$333,336 1134 99.2 $212
 Condos 395
 $297,500$358.,057 1963
 99.8 $342
 Multi 155 $460,000$458,213 1037 98.9 $170
 Land 24
 $120,000$152,563 158245 92.4 NA


Statewide Results:

For the fourth consecutive year, Maine home sales set a new record in 2018 as 17,983 single family homes were sold, representing an increase of 1.0% over 2017 when total volume was 17,810

The YTD (Year-to-Date) median single-family price of $215,000 represented a 7.5% increase over 2017.  Overall, pricing was up in 13 of Maine’s 16 counties, and remained consistent in two. The highest single month was May at $244,839, followed by April and then March.

Each month of 2018 was higher than 2017. Between 2007 and 2011 median prices declined each year, reaching their lowest level in 2011 at $165,000.  From 2012 onward, pricing has increased ever year, with one exception - 2014.

 
Portland Sales History
YearUnitsPrice
2018526
$316,250
 2017   528  $286,500
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
   

Portland Annual Sales

Portland SF


Portland Condos


2018 Report
Download Market Repot

2016 Market Report


 

 



 
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