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Portland Maine Market Report

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As I sat around tonight wondering what I should research in the Southern Maine real estate world, acknowledging that I that I love numbers and that my niche seems to be in compiling housing statistics on I thought why not take some market snapshots for individual towns and then revisit a couple months later to get a great handle on the status of an individual market, so here we go with real estate in Portland Maine.  As of today, 471 current residential properties are on the market in Portland, 253 SF and 218 Condos.   The median ASKING price for a single family home clocks in at 387K vs 328K for a condominium.   Despite the high average, the lions share of properties for both types fall between 200-300K, about 40% of the total inventory.   As far as Days on Market, single family homes are moving much quicker, 85 days, versus 112 days for condos.   Another interesting factoid I by accident  stumbled across while messing up my average vs summation function in excel was the total dollar volume of asking prices.  98M and 71.5M respectively for SF and condos, thus with a couple hundred million, you could BUY Portland.  View all the stats here

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