Portland Maine February 2009 housing stats

The month of February posted some more encouraging numbers for homes sales in Portland ME. 31 transactions occured at an average price of 240K with the average residential home sitting on the market for about 120 days. This is significantly up from January (55%) when only 20 transactions took place and down only 16% from a year prior. Pricing is down 8% from a year prior and the days on market was similar to a year prior. Relative to January, the Days on Market was up significantly though. Inventories continue to drop clocking in at 355 vs 389 a month prior.

Thanks for reading about Portland Maine Real Estate.

I am a Maine buyers agent with Green Tree Realty in Portland and can be reached at 207-650-5383 or email john@greentreemaine.com.

Posted Tuesday Mar 03

( 03/05/09 08:41AM ) — Stanton Homes - Penny Hull Raleigh NC Custom Home Builders

I'm hearing positive February numbers in a lot of locations. It seems many buyers were "on hold" in January, as the news stories kept talking about the housing stimulus package and the fact that it might "take affect" in the middle of February. Why buy in January if you'll get some kind of big benefit by waiting until February? Now that we know what the package is, and can see that interest rates aren't going to be lowered artifically, buyers are taking advantage of the great bargains out there...