Market Update for Portland for January 2007

Residential

There were 44 active listings on the market in Portland at the end of January,exactly the same as in December.  There were 21 new listings, 7 went under deposit and 6 closed for an average sale price of $257,233 and a median sale price of $202,500.  The average days on the market were 56 and homes sold for 95.6% of the asking price.  Comparing January to December, in December there were only 2 closed sales and the average sale price was $252,500 showing a slight increase in price.

Comparing this January to January 2006, again there were 6 closed sales, with an average sale price of $270,083 and a median sale price of $277,500, homes were on the market for an average of 52 days and they sold for 98.26% of their asking price.  There really is not enough data yet to figure where the market in Portland is going although the indication is that prices have dropped from last year by about 5%.  With only 6 closed sales last year and this year, I'm not totally sure this is accurate.  Number of listings has not gone up, so things overall still look good for Portland.

For all of your real estate needs in Portland and surrounding areas, please contact:

Marabeth Gildersleeve
Coldwell Banker Residential Brokerage
2300 Main St
Glastonbury,Ct 06033
860-633-3661 Ext122
http://www.CtREalEStateCorner.com
Mailto:Marabeth@CtRealEStateCorner.com