Here is a brief snapshot/overview of how the greater Portland residential real estate markets faired in the 3rd Qtr 2009 including the South Portland, Falmouth, Westbrook and Cape Elizabeth housing markets.
In Portland, 189 residential transactions took place, just two more than in 2008 for the same 3 month period. The median price point was 203K, off 9% from 222K in 2008. The median Days on Market was 47, similar to 43 a year prior.
To the south of Portland the community of South Portland saw 87 residential transactions take place at a median price point of 186K contrasted with 81 at 201K in 2008 for the same 3 month period representing a 7% volume increase and a 7% volume decrease.
The Cape Elizabeth Housing markets, next to South Portland and one of the most desirable zip codes saw 39 transactions transpire at a median price point of 277K compared with 30 at 303K in 2008, representing a 30% increase in volume and 9% decrease in prices.
Falmouth to the north of Portland had 60 residential transactions at a median price of 336K compared with 45 at 405K in 2008. A 33% increase in volume coupled with a 17% decrease in prices.
Westbrook ME Real Estate, to the west of Portland saw 56 properties trade hands at a median price point of 187K. In 2008, an identical number of transactions took place but at a 9% higher median price point of 198K.
Thanks for reading
John Herrigel
Maine Buyers Agent
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