Portland Maine Real Estate

Home Sales & Selling Prices

Portland continues to be the largest housing market in Maine and accounted for 19% of all single family and condominium sales in Cumberland County in 2011.  Although slightly lower, this result was consistent with 2010 and 2011.

2011 Sales Results

Single family homes of 374 represented the lowest annual level since 1997. As the chart below illustrates, sales were 6.9% below 2010 results, while condo sales were nearly 21% the previous year. 

In most cases it appears that the decline in selling prices, which began in late 2005, has moderated.  The medain sales price of a home in Portland reflected no change from 2010 and condo sales improved 11.4%.

These results were better than Cumberland County as a whole, which can be view at: Southern Maine Home Sales.

2012 Sales Results

The Portland 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 YTD comparison attempts to moderate the affects of seasonality, cyclicality and macroeconomics. 

At this time although there has been marginal improvement in pricing, there has been no consisten uptick in sales activity during this winter.  The percentage of homes under contract is improving, yet the inventory level remains high – thus keeping competition among sellers acute.  

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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.