Cumberland County 2008 Real Estate Year in Review

By
Real Estate Agent with The Herrigel-Kennedy Group - Portside Real Estate

Cumberland County Average home sold pricesCumberland County, home of Portland Maine saw 3060 residential transactions occur in 2008 vs 3703 in 2007, a drop of 17% in volume. The average sold price was down 9% to 275K from 302K in 2007. Historically the the pricing is right where Cumberland was in 2004, but the transaction volume is the lowest the decade has ever seen.  Real estate in the coastal regions has been hit the hardest as Portland proper has remained more resilient than most areas to the economic downturn. 

For additonal housing data and additional graphs, please visit  my website www.mymaineproperty.com or for specific Portland Maine home information please go to www.portlandmainehome.com 

I am a buyers agent serving the greater Portland  and lower mid coastal real estate markets of the state.

Thanks for reading,

John

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John Herrigel

Portland, ME - Real Estate
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