Once again the Portland Maine residential home market posted solid results for the month ending May 31st 2009.  54 homes sold at a median price of 233K, compared with 72 homes at a median home price of 203K in 2008 for the same month.  Despite the lower transaction volume, the median price rise coupled with a 7 day median days on market drop is encouraging news.  Maine first time home buyers are very active and the higher median price shows other segments of the market are begining to heat up. Inventories ballooned to 451 properties compared with 410 a month prior, a bit disconcerting!

To read more about this Southern Maine real estate market please visit www.mymaineproperty.com, email me at john@greentreemaine.com or phone at 207-650-5383.

Thanks for reading,
John

Maine Buyers Broker