Well over the past 6-8 months we have seen some signs of increases in median sales price levels. Although I have issues with the 1004MC form and we are in a market area with fewer sales in a year period than other markets (i.e. non-Maine), some analyses have an upwards trend. Not much mind you, 1.5-3% generally, but we all know it has to start somewhere.
And that "where" has lately been experienced on Portland's peninsula. From what I have seen, the condominium and 2-4 unit markets have experienced some increases and short marketing times measured as Days-On-Market (DOM). DOM is from the list date to pending or contract date. Why? Intown living with good walk scores for schools (K-5), local services, amenities (numerous restaurants, nightlife, and the arts). And on the peninsula, the East End/Munjoy Hill has come alive.
All for now.
Thank you, we'll be in touch!