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Portland Maine Condo Market Update – December 2011

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Conod ComplexCurrently the condo market in Portland Maine has 114 condos currently listed for sale and offered at a median price point of $215,000.  Overall the condo market in Portland continues to improve with multiple  To Be Built luxury Portland condos slated to come on the market in the near future. The baby boomer population continues to propel this market segment forward as with a great downtown within walking distance from  most neighborhood such as the West End or East End parties looking to relocate to Maine can have restaurants, culture and more  at fraction of the cost of similar cities in America.

As of today.. 179 condos have sold in Portland in 2011 at a median sold price point of 217K.  With sold prices matching asking prices.. the market remains very stable and if a condo is priced right it is selling with a few weeks. However, if a property is over priced.. it is not uncommon for it to sit on the market for an extended period of time whilst seeing little buyer interest.

Going forward expect this market segment to improve given the small supply and strong demand for condos in Portland Maine.

Thanks for reading and please reach out anytime for more information on the current housing market.

  1. Looks like a strong condo market in Portland. We’re not so lucky here on the Treasure Coast of Florida. Very sluggish for condos and also very difficult to get financing.

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