South Portland Maine Real Estate | Home and Condo Sales Reports
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South Portland Maine Market Report

Home Sales Statistics & Results -  2020 vs 2019 Update

South Portland represents approximately 1.6% of all home sales in Cumberland County. From 2015-2017 South Portland found a trend in declining sales. While 2018 reveresed this, it appears 2019 has brought back the decline. Total sales were 294, representing an increase of -5.4%.  As with many communities in southern Maine, overall sales were constrained by low inventory levels, and South Portland was no different.  

The median selling price of $315,750 reflected an increase of 8.8%, following an icrease of 10.9% the previous year. This shows that despite low inventory, demand for homes in South Portland remained high. The 2019 results represented a record high for the city and was the tenth consecutive year of price appreciation.

The charts below include up-to-date 2020 monthly sales and a review of the complete years 2019 and 2018 for all types of properties. 

 

2020 Sales: YTD Results Through August

 
Prop
Type

Median Prices YTD
2020      |       2019
 Unit Sales YTD
2020  |  2019

% of
List Price


DOM
         
 Homes $326,500$315,000 170188 102.21%
 5
 Condos $230,000$243,000 48
55 101.32%
 6
           
All housing data has been compiled from research by Maine Home Connection using information from the Maine Real Estate Information System (MREIS). 
 

 

2019 South Portland Real Estate Sales & Prices

 
Prop
Type

# of
Units

Sold Price
Median     |     Average

Days on Mkt
Med  |  Avg
 % of
List
 $/Sq Foot
           
 Homes 294 $315,750$342,587 7
17
 100.0 $219
 Condos 82 $238,200$274,968 7
26 100 $222
 Multi 33 $385,000$460,371 1134
 97.5 $170
 Land 4
 $120,000$135,625 4
36
 84.4
 NA

South Portland condo sales have gone back and forth between decreasing and increasing the past three years, and 2018 was no different. After a slight increase in 2017, there was a sharp decrease of 20.5% in 2018. However the median selling price of $212,500 represented an increase of .9% and represented the highest level since 2005.

 

2018 South Portland Real Estate Sales & Prices

 
Prop
Type

# of
Units

Sold Price
Median     |     Average

Days on Mkt
Med  |  Avg
 % of
List
 $/Sq Foot
           
 Homes 311 $290,000$319,063 7
18 100.0
 $196
 Condos 70 $212,500$263,559 7
25
 103.6
 $217
 Multi 26 $382,000$438,805 1219
 102.6 $187
 Land 5 $90,000$129,000 496 75
 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.

 
South Portland Sales History
YearUnitsPrice
2019
294
$315,750
2018
311 $290.000
2017 302  $261,500
2016310 $252,750
2015331$231,000
2014341$224,278 
2013314$215,500 
2012241$217,000
2011208$197,000
2010230$205,000
2009230$199,900
2008195$210,000
2007272$218,750
2006314$226,000
2005340$221,500
   

Active vs Pending Listings
Residential


South Portland Listings 2019

Months of Inventory
Residential

South Portland Inventory - 2019


2019 Report
Download Market Repot

Download 2019 Report

 


 

 



 
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