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Greater Portland Residential Market Report – April

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Despite the expiration of the housing tax credits, the real estate markets in Portland Maine continue to buzz along at a healthy clip.  Many first time home buyers I have been working with were actually kind of relieved to have the pressure off of finding a place prior to April 30th.  Interest rates continue to remain low and if we can avoid 1000 point stock market drops everything will be just fine in the greater Portland and southern ME real estate markets.

For the month ending April 30th the region as a whole was up about 40% or more in transaction volume compared to a year prior and relatively flat compared to March figures.  Median pricing in Portland and South Portland was actually up 6% and 27% respectively year over year but the small sample sizes can be a bit misleading and overall pricing is stable to slightly increasing in the city whilst holding steady in the surrounding suburbs like Cape Elizabeth, Yarmouth and the real estate markets in Falmouth.

For more detailed overviews on the individual communities please visit my southern ME real estate or mid coastal Maine housing overview pages at www.mymaineproperty.com.

Thanks for reading,

John

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