After an extremely sleepy first few weeks of September here in Portland, it seems the phone has finally started ringing and this hopefully translates into buyers buying.! It is a bit too soon to analyze September housing statistics, but my guess is they will be poor as transaction volume in July/August for the Portland Maine real estate markets was down approximately 15% compared with 2009 and off significantly more than this compared with the summer of 2008. Median prices year over year did jump in August, but these figures should be taken with a grain of salt and are most likely misleading because fewer first time home buyers at lower price points are in the marketplace. Overall pricing is relatively stable in the greater Portland region.
Going forward if rates remain low and the economy does not tank I suspect we shall see improving conditions everywhere. Feel free to visit our blog on Portland Maine housing for monthly updates on the status of the these markets as well as regional markets such as Cape Elizabeth, Falmouth and South Portland.
Thanks for reading,
Green Tree Realty