Portland, ME

The Portland Maine real estate markets saw 29 transactions take place with an average sold price of 248K after sitting on the market for 87 days in December 2008. This contrasts with 46 homes sold at an average price of 279K after sitting on the market for 97 days n December 2007. This represents a transaction volume decrease of 37% and a pricing decrease of 10%. Inventories continue to drop as well. Currently there are 391 properties for sale in Portland down from 425 last month.

For more information on this southern Maine real estate housing community please visit www.mymaineproperty.com or contact me directly at 207-650-5383 or via email at john@greentreemaine.com

With fewer homes selling in Maine, those involved in the real estate industry - agents, mortgage lenders, home inspectors and appraisers - are all feeling the affects.

Through December of 2008, the number of people licensed to sell real estate in Maine declined 13.5% in the past year, and the number of people obtaining entry-level licenses fell 70%. The number of mortgage lenders is also dwindling. As of year end there were 60% fewer licensed lending office, and the number of licensed loan brokers is down 25 %. These statistics are kept by the state’s Office of Licensing and Registration.

As with many industries, especially those where the threshold to join is relatively low – but the formulation to achieve real success can be elusive, difficult economic times have a way of weeding out the weak. And today is that time.

Although many buyers have been sitting on sidelines because of the economic uncertainty, there is still optimism that the new administration will create the environment that will lead to a market turnaround later this year.

When that time comes, those who have survived, and flourished, in this difficult market will be in a position to reap the rewards and provide clients with an even higher, more sophisticated level of service. The Maine Real Estate business sector deserves strong agents who have a grasp of new technologies and improved methods of doing business.

In November 2008, the Portland Maine real estate markets witnessed 51 residential transactions take place at an average price of 259K with a days on market average of 75 days. Compared with November 2007 where 47 transactions occurred at an average price of 265K. this represents a 9% year over year transaction increase and a pricing drecrease of 6%.

For greater information on homes for sale in Portland Maine please visit www.portlandmainehome.com

The real estate in Portland Maine's Deering neighborhood is some of the finest in the area. A suburb of Portland yet still within the Portland city limits, the sense of community is strong, the neighborhoods are quiet and thus the quality of life is strong. Currently there are 70 properties on the market, about 2/3rds homes and a 1/3 condos. The average asking price is 300K for a single family and 197K for a condo. For the year to date the average sold combined price of homes and condos combined has been 244K contrasted with 256K for 2007.

For more information on the Deering Neighborhood of Portland Maine, visit www.portlandmainehome.com

A simple stroll along the Eastern Promenade in Portland will have you hooked. Incredible vistas of the surrounding islands and Casco Bay..."the Hill" as it is referred to by the local population is the place to be if you are looking for culture, high energy and high excitement. Within the Portland ME real estate market, the East End falls on the upper spectrum with 61 properties currently listed, 54 of them condos's of which most fall into the luxury variety with an average asking price is 394K contrastng sharply with the year to date average sales price os 297K.

For a rough overview on the East End Portland Maine real estate markets visit www.portlandmainehome.com.

Thanks for reading.