Portland’s residential real estate stats show dramatic sales price increases. Over Feb 2020, single families sold for 46% more this year than last year.
Portland, ME – Portland’s February residential real estate sales show a continued upward trend in prices. Last February was the last “normal” sales month before the pandemic shutdown. The statistics show a dramatic rise in sales prices and overall sales volume over February last year. Portland saw a 34% increase in the overall median sales price over February 2020, and a 73% increase in sales volume. For single families, the median sales price increased by 46% over last year.
“Portland saw a continued upward trend in prices and higher than normal volume throughout the fall and winter months,” said Benchmark Real Estate owner, Tom Landry. “We expect a very strong 2021 spring market.” Landry’s firm runs the monthly numbers on Portland’s residential real estate, pulled from Maine’s Multiple Listings Service. Landry said, “we’ve simply run out of superlatives to describe this market.”
February stats showed only a small increase in the number of listings in the city, and although Landry said more homes have been listed March, he expects buyer demand to continue to outpace supply for some time.
The statistics below were prepared by Benchmark Real Estate using data from Maine Listings. See past stats on our blog homepage.
February 2021 Real Estate Stats
Highest & Lowest Single Family Sales, Feb. 2021