Thursday, November 4, 2010

Market Update for Portland Maine Homes for Sale

In October there were 462 condos and homes for sale in Portland, ME. 34 condos and homes sold in the month of October. These sale numbers show a 15% decline from last month's sales in and a 31% decline from last year's sales in the Portland Maine Real Estate Market. Taking a closer look at the pricing this past month, the median prices of homes and condos surprisingly rose 5% compared to last October; This increase can possibly reflect a lower number of first time home buyers in the Portland Maine area at lower pice points. In addition, the Portland Maine Real Estate market showed that the average home sat on the market for 83 days in the month of Ocotober, a 57% increase from last year and an even larger 66% increase from last month. Could this be a sign that prices may need to be lowered? It will be intriguing to see what the market does in the month of November.

I hope you enjoyed reading this month's market report update. For more information please visit my or contact me directly at 207-650-5383 or

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