How’s The Real Estate Market In Portland Maine?
The summer has come and gone leaving behind many single family home sales in the Portland and South Portland Maine area. To date, September has seen 105 single family homes sales compared to 119 in August. Only two of those sales were over a million. The average list price for September was $307,029 up from $298,328 and average sold price of $302,445 up from $296,009 in August.
The sales/list price ratio of 99.10 is only down a 1/4 percent from last month. This is good news for sellers as many are getting very close to asking, if not asking, or over. Average days on market was 33, many homes are selling quickly. Proper pricing and marketing are the most important factors when selling a home. If you over price it will most likely sit on the market.
Even more encouraging is the amount of buyers still in the market. I sat an open house in Deering Center two weeks ago and had at least 15 buyers come through the door. October should remain strong and then start to slow down after that. Please check back on a monthly basis as I will be compiling real estate statistics for Falmouth, Yarmouth, Portland, Scarborough, and Cumberland.
* All stats compiled from the Greater Portland Maine MLS, the most accurate source for information.
Broker / Accredited Buyer Representative
Benchmark Residential & Investment Real Estate