Portland Market Report for December and a Comparison of 2006 to 2007

Residential

There are 56 active listings on the market in Portland, 9 new listings came on the market in December , 5 homes went under deposit and there were 10 closed sales.  Below you will see the comparison between Dec. 2007 and Dec. 2006:

Closed 12/2007:  10                                             Closed 12/2006:  3
Avg.Sale Price:  $286,940                                      Avg.Sale Price:  $250,000
$/Sq.Ft.:  146                                                       $/Sq.Ft:  156
DOM:  50                                                             DOM:  86

As you can see, this December was much better than last December with prices being up and days on the market being down by a lot.

1/1/2007 - 12/31/2007 compared to 1/1/2006 - 12/31/2006

Closed Sales 2007:  95                                          Closed Sales 2006:  83
Avg.Sale Price:  $267,068                                       Avg. Sale Price:  $287,364
$/Sq.Ft.:  $149                                                      $/Sq.Ft.:  $157
DOM:  64                                                              DOM:  67

Comparing last year to this year sales were up by 14.5%, prices were down by 7.1% and the average per sq.ft. price is down 6.1%.  In one way it looks as though sales are picking up in Portland, even though prices are down.  I would say Portland is a town that a buyer should definitely consider when looking for a home.