Condo sales in Portland continue to be strong in 2013. During the first six months unit sales are up an impressive 27% – 136 unit sales vs 107. Pricing can best be described as “steady” as the median selling price of $195,000 is up only .5%.
One of the most popular condo markets in Portland is the Munjoy Hill, which can be found on the eastern end of the city. It overlooks the downtown and harbor while providing spectacular views of Casco Bay. The Eastern Promenade circles the community, which features a wide variety of historic homes (many of which have been converted to condos and townhomes), unique shops, restaurants and a theater company. East End beach is nearby and you can walk to the Old Port. The area is exceedingly residential and provides for a very inviting neighborhood feel.
At this time there are 15 properties on the market – 10 are condos. Ranging in price from $174,000 to $375,000 a few offer views of the water or city. In most situations, however, properties with views of Casco Bay typically are priced much higher. For example, in the last twelve months the most expensive property sold was located in the 45 Eastern Promenade highrise and was priced at $545,000 (Initially listed at $675,000).
Unlike the overall condo market in Portland, sales on Munjoy Hill are less in 2013 compared to 2012. There have been 12 sales this year compared to 17 during the first six months of 2012. With the inventory being consistently low, however, this is not overly surprising.
To view the most current properties for sale on Munjoy Hill and display lifestyle attributes on a geo-spatial map, visit: Munjoy Hill Condos for Sale or click the map above.