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2010 Year in Review for Greater Portland and Coastal Maine

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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.

Transaction Volume Median Prices
2010
2009
Change
2010
2009
Change
Portland Homes
399
413
-3%
219
218
0%
Portland Condos
238
206
16%
193
186
3%
South Portland
278
289
-4%
198
189
5%
Cape Elizabeth
134
114
18%
359
302
19%
Falmouth
170
175
-3%
399
376
6%
Westbrook
160
194
-18%
179
185
-3%
Yarmouth
100
88
14%
281
342
-18%
Scarborough
221
223
-1%
292
297
-2%
Freeport
85
86
-1%
288
249
16%
Brunswick
200
177
13%
198
206
-4%
Bath
87
104
-16%
142
128
12%
TOTALS
2045
2036
0%
243
236
3%

Greater Portland Maine Real Estate Report May 2009

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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.


Southern Maine January 09 Real Estate Report

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The month of January did not treat the southern and greater Portland Maine real estate markets kindly.  In most communities transaction volumes were a fraction of what they were a year prior or even a month earlier.  For instance South Portland saw 7 home sell vs 13 from a year prior and Freeport saw one transaction relative to 8 in 2008. Falmouth was the only community that had an increase with 8 homes trading hands vs 5 the year prior.

This southern Maine real estate slowdown can partially be attributed to colder temps and more snow than average this past January although I feel it is more largely attributed to the general state of our economy and housing marktets. Optimism is not dead yet though and with the entire system being psychologically driven in many ways…KEEP THE FAITH.  For more housing statistics on Maine please visit www.mymaineproperty.com


Falmouth Maine Real Estate

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Just North of the housing market of Portland Maine resides the wonderful community of Falmouth.  Real estate in Falmouth Maine is not cheap but resale value is generally strong as it is one of the most desirable suburbs of Portland.   Currently there are 181 homes on the market. In 2007 the average sold home price was 484K and 179 properties were sold.
Coastal property in Falmouth can be found on the foreside to the east and on Highland lake to the west.

Visit the Falmouth Maine town website here