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3rd Quarter Housing Report on Southern Maine

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This morning at our Greater Portland Board of Realtor’s meeting we were lucky enough to get the chief economist for the National Association of Realtor’s, Lawrence Yun, to come speak about the current state of our housing economy, from both a local and national perspective.  As optimistic as he tried to be.. he was very realistic and basically said it was a challenging environment and the recovery is slow, but Portland Maine has fared better than the average city!

With that said… here is some data on how the greater Portland residential housing market fared in the 3rd quarter of 2010.   490 homes and condos sold at a median price point of 250K representing a transaction volume decrease of 37% and a pricing increase of 9% year over year although this pricing increase is more  a function of less first time home buyers in the marketplace than of real price appreciation.  Read the full 3rd quarter Maine report here.

It seems the markets of southern Maine have come alive as of late, but don’t expect any drastic gains in the near future. More than likely prices will flat line for a while, but with price stablizing buying has never been more attractive in this humble Realtor’s opinion.

You can search all Maine homes for sale here  if you would like or leave a comment and let me know where you think the market will go.

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