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Portland ME Housing Update – December 09

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Today Bloomberg released a report that housing values were up on 20 cities throughout the nation for the 5th consecutive month.  For the last 5 months starting in July the median sold portland Maine home prices have been 207K, 198K. 204K, 200K, 212K repsectively.  Thus one could infer that our region market is fairly stable.  Volume on the other hand has been way up both in Portland and the surrounding neighborhoods. The first time tax credit coupled with historically low interest rates have helped keep a healthy supply of buyers in the marketplace.

Going forward anything could happen though and it seems volatility and media hype, both positive and negatively, will continue to dominate the industry.

For more detailed housing statistics on Portland or Southern ME real estate in general please feel free to contact me at 207-650-5383 or john@greentreemaine.com

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