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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.

 

2011 Scarborough Real Estate Sales

 
Prop
Type

# of
Units

Sold Price
Median     |     Average

Days on Mkt
Med  |  Avg
 % of
List
 %
U/C
           
 Homes 196 $329,450$352,861 73103  94.1 80.0
 Condo 33  $220,900$258,646 6298 96.1 13.5
 Multi 2 $405,000$405,000 110110 84.6 0.8
 Land 14 $96.000$126,035 86166 82.4 5.7


2011 vs 2010 Sales Comparison

 
Prop
Type

Median Selling Prices
2011    |    2010 
 Unit Sales
2011  |  2010

Prices
% Chg

Units
% Chg
         
 Homes $329,450$319,000 196197 3.1 (0.5)
 Condo $220,900$220,000 3329 0.4 13.8
 Multi $405,000$226,725 22 78.6 NA
 Land $96,000$110.000  1419 (12.7) (26.3)


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.

 

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 $329,450$312,000 196215 100 2
 Condo $220,900$239,000 3352 20 0

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 YTD annual comparison 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.  

Southern Maine Real Estate Resources

   
Maine Quality of Life 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.
   
Tour of Maine 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.
   
Maine Home Sales Reports Home Market Sales & Statistics are available for YTD 2007, 2006, 2005 and 2004. 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 Scarborough & Southern Maine

Request A Relocation Package Today!
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.

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.



 
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