Tuesday, July 10, 2012

June 2012 - Real Estate Market Update

This market report gives you the real estate activity for the Greater Portland, Maine area.  Since we had a great spring the big problem right now is inventory to keep up with buyers demand.  We have people calling our office all the time looking for homes to buy.   While we do have plenty of homes to look at, there just isn't enough inventory to satisfy ALL the buyers that are looking.   If you or someone you know is considering selling a home now is a good time to get it on the market.  There won't be much competition and may result in a multiple bid situation which could get you top dollar.

The following Multiple Listing Service (MLS) information is for the month of June 2012. Towns included in this report are Portland, South Portland, Cape Elizabeth, Scarborough, Westbrook, Falmouth, Windham and Cumberland.

Number of Current Listings = 1381 (down from last month)

Number of New Listings Added = 288 (down from last month)

Number of Properties That Went Under Contract = 203 (down from last month)

Number of Sold Properties = 261 (up from last month)

Number of Expired Listings = 118 (up from last month)

Average Sold Price = $305,382 (up from last month)

If you would like to see information for another town send me an email and I will give you a customized report.



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