For the year ending 2010 the real estate markets in greater Portland and mid coastal Maine posted solid and stabilizing housing results. Overall transaction volume was almost identical to that seen in 2009 whilst median pricing actually rose 3% on a statistical basis, although in reality it seems housing prices are not really increasing or deceasing.  Many signs point to a strong year ahead of us in 2011.. the economy is improving, inventories are low, rates remain stable and the general overall vibe is strong.

Below are detailed housing statistics on all the communities within the region.

The greater Portland Maine real estate markets posted a very solid May and continue to trend upward with regard to transaction volume and median pricing.  South Portland residential real estate saw 31 transactions transpire at a median price of 189K, compared with 210K a year prior and 164K in April 2009.  The real estate in Falmouth Maine and also Cumberland saw 17 and 7 homes trade hands compared with 11 and 11 respectively from a month prior. Median pricing for these neighborhoods clocked in at 485K and 279K in May 2009.  Within the Cape Elizabeth residential home market, 9 homes sold in May compared with 16 a year prior. The median price was 245K.

For the month ending November 30th 2008 the  Cumberland Maine real estate markets saw 7 transactions transpire at an average price of 277K after sitting on the market for 159 days. in 2007  6 homes sold at an average price of 405K in November representing a transaction volume increase of 17% and a pricing decrease of 32%.

For more information on this southern Maine market please visit www.mymaineproperty.com or contact me directly at 207-650-5383 or via email at john@greentreemaine.com