3rd Quarter 2009 Greater Portland

OVERVIEW
The residential real estate markets saw median prices decrease about 10% from a year prior in the 3rd Qtr 2009. However the markets do appear to have found a bottom after the intense economic crisis seen in the 4th Qtr 2008 and 1st Qtr 2009.

Portland Maine
                The 3rd Qtr saw 189 residential transactions close, just two more than in 2008 for the same 3 month period.  The median price point for this period was 203K, off 9% from 222K in 2008.  The median Days on Market was 47, similar to 43 a year prior.  One can see prices continued to trend down in 2008, but have for the most part stabilized in 2009.  After an uptick during the economic crisis, the Days on Market median has also stabilized.

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John
Maine Buyers Agent and Associate Broker