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South Portland Maine Market Report

Home Sales Statistics & Results -  2019 vs 2018 Update

South Portland represents approximately 7.5% of all home sales in Cumberland County. After three years of declining home sales, 2018 single family sales went up. Total sales were 311, representing an increase of 2.3%.  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 $290,000 reflected an increase of 10.9%, which shows despite low inventory, demand for homes in South Portland remained high. The 2018 results represented a record high for the city and was the ninth consecutive year of price appreciation.

The charts below include up-to-date 2019 monthly sales and a review of the complete years 2018 and 2017 for all types of properties. 

 

2019 Sales: YTD Results Through September

 
Prop
Type

Median Prices YTD
2019      |       2018
 Unit Sales YTD
2019  |  2018

% of
List Price


DOM
         
 Homes $315,000$295,000 221219 100.0%
 6
 Condos $243,000$240,000 63
52
 101.29%
 7
           
All housing data has been compiled from research by Maine Home Connection using information from the Maine Real Estate Information System (MREIS). 
 

 

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 4
96
 75.0
 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.

 

2017 South Portland Real Estate Sales & Prices

 
Prop
Type

# of
Units

Sold Price
Median     |     Average

Days on Mkt
Med  |  Avg
 % of
List
 $/Sq Foot
           
 Homes 302 $261,500$307,612 8
22 100.0
 $201
 Condos 88 $210,610$236,102 9
29
 100.0
 $213
 Multi 23 $375,500$385,109 1476
 99.7 $157
 Land 4 $81,250$79,625 53103 91.1
 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
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
   

South Portland Home Sales

South Portland Homes

South Portland Prices


2018 Report
Download Market Repot

2016 Market Report



 

 



 
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