The real estate market for condos in Portland ME has seen a decrease in inventory sold from July of 2010 to July 2011. In July 2011 a total of 17 condos were sold. This was a 29% drop in the number of condos sold year over year, but there was a month over month increase of 21%. Median price has climbed 2% year over year to 204K in July 2011. Stable markets in southern ME led by lower interest rates make Portland an excellent place to relocate.
If you are thinking about relocating to Portland, one neighborhood to consider in your condo search is Portland’s East End area. The East End, also known as Munjoy Hill, is a stylish neighborhood close to downtown with some great luxury condos for sale.
This housing report has been compiled by John Herrigel, a Maine broker with MyMaineProperty.com - the Herrigel Group. For more information about the Portland Maine condo market contact John directly by phone at 207-650-5383 or by email at johnherrigel@gmail.com
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