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Portland and South Portland Housing Update – November 2009

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Wow… we are off to a great start as I begin tabulating the monthly housing statistics for the southern maine real estate markets.  Portland Maine posted 55 closed transactions for the month of November whilst South Portland added another 27.  These volume was up about 8% for Portland year over year and almost 100% in South Portland where only 14 homes sold in November 2008!!

The more exciting news though is the median pricing for the 2 communities. South Portland actually saw a 4% increase from 2008 whilst the Portland Maine real estate market saw a 4% drop year over year, still lower but half as much as the 10% year over year drops we have been seeing!  Month over month, a 4% increase was even seen, but the monthly figures fluctuate a bit more and the bigger story is that prices have not been deceasing for over a half year and may even be seeing a slight rebound.

Thanks for reading,

John Herrigel
Portland Maine real estate agent

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