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Portland Maine Real Estate

Homes Sales Results

Portland real estate sales in 2013 continued a trend of sustained improvement - yet were still below the historic high level established in 2005, when 570 single family homes were sold.

2013 Single family home sales of 528 exceeded 2012 results by 100 units, reflecting a significant increase of 21.3%.  This is the largest annual increase since 2006 and the second highest sales level of the past decade.  These results exceed sales improvements for both Cumberland County and the entire state of Maine. The median selling price also improved to $232,950, representing a healthy increase of 4.0%.  2013 reflected the third consecutive year of increased in selling prices, and reached the highest level since 2007.

During 2013 the market for condos followed a pattern similar to single family homes.  Unit sales increased dramatically, as 297 unit sales represented an increase of 30.3%.  The median selling price, however, declined a modest .5%, as the mix of properties sold was slightly skewed to lower-priced properties.  Not surprisingly, condo sales were 93% of original list price, giving further evidence to higher inventory levels and vigorous competition.

Land sales declined slightly as 10 parcels were sold at a median price of $111,025, representing only 10% of the entire Portland market.  Multi-family properties also declined slightly (2.5%).  The most common multi-family property sold in 2013 were units with 2 to 3 bedrooms, a 81% of the market.

 

2013 Portland Real Estate Sales & Prices

 
Prop
Type

# of
Units

Sold Price
Median     |     Average

Days on Mkt
Med  |  Avg
 % of
List
 %
Total
           
 Homes 528
 $232,950$264,345 32
71
 96.5 55.4
 Condos 297 $200,000$231,974 32
78
 93.0 31.2
 Multi 118
 $308,750$328,344 27
70
 94.4 12.4
 Land 10
 $111,025$187,845 114
270
 90.7
 1.0


Across the state of Maine single family home sales were up 13.6% in 2013 versus 2012.  Pricing also was up 2.9%, reflecting a trend of sustained improvement over the last two years. Cumberland County sales volume improved 15.6% while pricing improved dramatically at 7.1%.

Portland is the largest real estate market in the state, and the city’s single family home sales results for 2013 compare favorably to sales activity at the county and state level.  

2014 Compared to 2013 - YTD 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. 

 

2014 vs 2013 Sales - YTD Results ThrougDecember

 
Prop
Type

Median Prices YTD
2014       |       2013
 Unit Sales YTD
2014  |  2013

Current
Inventory

%
U/C
         
 Homes $238,000$232,950 550528
 125 52.8
 Condos $261,000$200,000 362
297
 80
 82.5
           
All housing data has been compiled from research by Maine Home Connection using information from the Maine Real Estate Information System (MREIS).

 

Addtional Portland Sales Information 

 
 Footer-Bird2011 Portland Sales Report (Comparison to 2010)
Maine Home Sales Update 2010
 Footer-Bird2010 Portland Sales Report (Comparison to 2009)
 Footer-Bird2012 Maine Sales Report (Selected Cities & Counties)
 Footer-Bird2011 Maine Sales Report (Selected Cities & Counties)
 Footer-BirdSales Report Archives (Past Reports & Downloads)
  
 
 
 
Portland Sales History
YearUnitsPrice
   
 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
   

Single Famliy Homes

Click to View Portland 2013 Sales

2013 Graphs-Portland Prices


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Sales Results

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