2012 was a good year for real estate in Portland Maine.  Sales of single family home were at their highest level since 2007, as 427 transactions were completed, representing an increase of 13.9% over 2011.

The highest years recorded for homes sales in Portland were 570 units in 2006, followed by 566 in 2004 and 519 in 2005.  Sales in 2011 were at their lowest level of the last decade, as only 375 sales were recorded – thus putting results in perspective.   Units sales during the last several years are listed below:

  • 2012      427
  • 2011      375
  • 2010      400
  • 2009      413
  • 2008      406
  • 2007      490
  • 2006      590

Monthly Sales Since 2010

The chart below highlight monthly sales.  Reflected in the results are the clear seasonality of the business, especially in the first quarter of the years.  Additionally, there was a strong surge during the last several months of 2012.

Home Pricing

The median price was also up in 2012.  The year ended with a median selling price of $223,000 compared to $219,000 in 2011 – a modest increase of 1.8%.  But after several years of decreasing or stagnant pricing, this is a good trend.

The highest price on record for an entire year was 2005 at $249,900. For more information about Portland, including an overview of the area, visit Local Communities – Portland.

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About the Author: Michael

Michael, along with his wife Laura, is co-owner of Maine Home Connection, an independent real estate company located in Portland. Maine. Together they started the brokerage from scratch with a new vision of what a company could look like if it focused completely on the needs of our clients and our agents.

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