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Portland ME real estate update

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As we enter the March spring season, (Note: March is Maine’s snowiest month! )  it seems the residential Portland Maine real estate markets have significantly heated up as attractively priced first time home buyer properties are selling in days with multiple offers at above asking prices!  What a change from a year prior!!  It is this authors belief that this mini-frenzy will continue to pick up momentum throughout the expiration of the housing tax credit on April 30th.

As of today there are approximately 380 homes and condo’s on the market in Portland with a median asking price of 249K.  To date in 2010 a total of 80 residential real estate transactions have transpired with a median sales price of 210K with the homes sitting on the market for a median of 60 days and selling at approximately 96% of their asking price.

Click here for a complete list of Portland Maine homes for sale.
Thanks for reading!

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