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Southern Maine Multi Unit Market Snapshot

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As we head into winter and landlords try and embrace the often roller coaster ride of heating costs and frozen pipes I thought I would provide a quick snapshot of the current multi unit markets and attempt to put them into context with recent year sales.

The multi unit market of Portland Maine has held its value SIGNIFICANTLY better than any of the other markets in the region.  To date 77 units have sold in 2009 at an average price point of 292K compared with an average price of 302K in 2007.  Contrast this with the worst performing market of Biddeford that saw an average price of 133K in 2009, compared with 221K in 2007, wow!!
The mid coastal markets of Bath and Brunswick currently have 36 multi units for sale  offered at median prices of 157K and 198K respectively.  In 2009, a total of 17 units sold at significantly lower median prices of 155K and 144K on average.
To read the full Southern Maine Investment Report, please visit my site www.mymaineproperty.com and sign up for an Investment Package or simply shoot me an email at john@greentreemaine.com or call me anytime at 207-650-5383.
Thanks for reading,
John

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