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. | 2011 Portland Real Estate Sales & Prices | |
Prop Type |
| # of Units |
| Sold Price Median | Average |
| Days on Mkt Med | Avg | | % of List | | % Total | | | | | | | | | | | |
Homes | | 374 | | $219,000 | $250,888 | | 60 | 90 | | 93.1 | | 55.5 | Condo | | 189 | | $215,000 | $234,247 | | 77 | 105 | | 93.5 | | 28.8 | Multi | | 106 | | $274,950 | $292,518 | | 62 | 104 | | 92.4 | | 15.6 | Land | | 11 | | $64,000 | $106,333 | | 169 | 116 | | 74.5 | | 1.6 |
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2011 vs 2010 Sales Comparison | |
Prop Type |
| Median Selling Prices 2011 | 2010 | | Unit Sales 2011 | 2010 |
| Prices % Chg |
| Units % Chg | | | | | | | | | |
Homes | | $219,000 | $219,000 | | 374 | 401 | | NA | | (6.9) | Condo | | $215,000 | $193,196 | | 189 | 239 | | 11.4 | | (20.9) | Multi | | $274,950 | $299,450 | | 106 | 82 | | (8.1) | | 29.3 | Land | | $64,000 | $60,000 | | 11 | 17 | | 6.6 | | (35.3) | | | | | | | | | | | |
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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. | 2012 vs 2011 Sales - YTD Results Through December | |
Prop Type |
| Median Prices YTD 2011 | 2012 | | Unit Sales YTD 2011 | 2012 |
| Current Inventory |
| % U/C
| | | | | | | | | |
Homes | | $219,000 | $223,900 | | 375 | 427 | | 152 | | 6.5
| Condo | | $215,000 | $199,199 | | 189 | 227 | | 95
| | 5.2 |
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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. | Southern Maine Real Estate Resources |
 | | 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. | | | |  | | 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. | | | |  | | Home Market Sales & Statistics are available for YTD 2009, 2008, 2007, 2006 and beyond . 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 |
 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. |