Cumberland 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.
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