Portland Maine January 2009 Housing Results

For the month ending January 2009, the real estate markets in Portland Maine saw 20 transactions transpire at an average price of 214K after sitting on the market for 70 days.  January 2008 saw 42 residential real estate transactions transpire at an average price of 222K after sitting on the market for an average time frame of 144. (Note: the high DOM can partially be attributed to a couple properties that sat on the market for close to 500 days though)

Thus year over year prices are down about 4% and transaction volume declined by a whopping 52%!  The current inventory of homes in Portland Maine is at 389... the same level seen in December.

For more information on homes in southern Maine please visit www.mymaineproperty.com. I am a  Buyers agent with Green Tree Realty servicing the greater Portland and lower mid coastal maine markets.

Thanks for reading,

John