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December Update on Greater Portland Housing Markets

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Despite the cold weather here in Maine.. it seems the real estate markets of greater Portland have sprung to life as of late. With interest rates continuing to creep upward and many economic indicators pointing towards bullish conditions Maine buyers have come back into the marketplace snatching up  properties at very attractive prices.

For the month ending November 2010 most regional housing markets saw improved transaction volume on both a month over month and year over year basis.  Ironically statistical median in Portland for November did drop of  sharply clocking in at 169K compared to 210K in October, but I believe this to be an anomaly and watch for this to rebound in future month’s.

The holiday season is always a slow time of year, but pent up demand and a lower overall supply of homes and condos for sale have set the stage for a very strong start to the new year.

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