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4th Quarter Analysis of Portland ME Residential Housing Markets

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The residential real estate markets of Portland Maine posted another solid quarter of results for the 3 month period ending Dec 2009.  A total of 147 single family homes and condos sold, up 19% from the 4th quarter  2008.  At a median price of 207K, values were only down 4% from a year prior and for the most part values have held stable with pricing for the first 3 quarters of 2009 being 206K, 219K, 203K.

The median days on market had a surprising uptick in the 4th quarter coming in at 80 days compared with previous reading in the first 3 quarters of 68, 44 and 47. Watching this metric in the first and second quarters of 2010 will help determine if this is an anomaly or a larger trend forming.

December and this first week of January have been a bit slow from my own perspective and personal business activity, but I am optimistic the lower interest rates and first time tax credit will help keep the Portland housing and real estate markets moving forward.

For more information on Portland Maine homes for sale and/or the tax credit please reach out anytime at 207-650-5383 or by email at john@greentreemaine.com

Thanks for reading and Happy New Year!

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