Greater Portland Housing Analysis – July/Aug 2010

It seems things are improving a bit after a very slow August and early September here in the housing markets of Maine.     I still expect sales volume to be  down and median prices to be up for September though(I should have these figures compiled in a week or so…please do check back or sign up for an email alert).

Here is a quick snapshot of how the greater Portland ME real estate markets fared over the peak summer months including Falmouth, Cape Elizabeth and South Portland.

As you can see volume was down in 3 out of the 4 communities whilst median pricing was significantly up in all 4 towns.   Now I would not necessarily interpret this as a sign that prices are increasing as I believe this increase is a result of a  decrease in lower priced homes sales due to the ending of the first time home buyers tax credit.

Going forward I feel  the residential real estate markets in and around Portland  will see moderate volume throughout the Fall.

Thanks for reading,

John Herrigel