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South Portland Maine Real Estate

Homes Sales Results

In 2013 South Portland represented approximately69% of the entire Cumberland County real estate market – a slight decrease from prior years.  Sales for the year improved for both single family homes and condos over results from 2012.  Single family sales of 314 equaled their highest level since 2007, yet were still short of the record of 2005, when 340 single family homes were sold.  This represented an increase of 29.8%.  Condo sales increased a modest 2.7%

The median price of a single family home was $215,500, representing a slight decline of .3%.  Condo pricing improved significantly at 7.2% .  The days on market (DOM) was dramatically different between homes and condos – as homes sold in just over 20 days while condo were over 70.  During 2013 there were 4 condo sales in excess of $500,000, while there was 11 such single family sales. 2011.

Multi-family sales were up significantly, as 30 sales represented an increase of 66%.  Pricing was also up 13.5%.  Land sales were essentially unchanged year-over-year.

 

2013 South Portland Real Estate Sales & Prices

 
Prop
Type

# of
Units

Sold Price
Median     |     Average

Days on Mkt
Med  |  Avg
 % of
List
 %
Total
           
 Homes 314
 $215,500$244,746 21
51 98.0 72.8
 Condos 76
 $179,450$209,784 72
113
 95.3
 17.6
 Multi 30
 $250.000$292,888 24
59
 99.0 7.0
 Land 11 $76,800$83,231 13
91
 80.8
 2.5


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 two consecutive years of improvement.  Cumberland County sales volume improved 15.6% while pricing increased an impressive 7.1%.

South Portland is a large factor in the Southern Maine real estate market, and the city’s single family home sales results for 2013 were better than most other communities in southern Maine and the entire state.   

2014 Compared to 2013 - YTD Sales Results

The South 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 Through December

 
Prop
Type

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

Current
Inventory

%
U/C
         
 Homes $224,278$215,000 314315
 42
 78.5
 Condos $164,250$179,450 74
76
 16
 100
           
All housing data has been compiled from research by Maine Home Connection using information from the Maine Real Estate Information System (MREIS).

 

Addtional South Portland Sales Information 

 
Footer-Bird2011 South Portland Sales Report (Comparison to 2010)
Maine Housing Stats
Footer-Bird2010 South 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 (All Prior Year Reports)
  
 
 
 South Portland Sales History
YearUnitsPrice
   
2013
314
$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
   

Single Famliy Homes

2013 Graphs-SouthPortland Sales

2013 Graphs-SouthPortland Prices

Interactive Map
Sales Results

Tableau Map

Click to View


South Portland Homes
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