The Portland Maine real estate markets saw significantly increased transaction volume in October, 25% greater than a year prior with 49 residential homes trading hands. Median pricing still remains off about 10% from a year prior, but month over month the median price has been hovering around 200K and thus seen little decrease.
Just across the million dollar bridge however the real estate markets of South Portland saw 29 homes sell at a median price point of 196K, up 13% from a year prior. Transaction volume was up about 7% for the time period year over year.
The first time homebuyers continue to buy and with the extension of the tax credit, look for more of the same going forward in the southern Maine housing markets.
Thanks for reading,
John
Maine Buyers Agent