Property for sale
South Portland
Welcome to south portland
Welcome to your new home in beautiful South Portland! We’re thrilled to have you join our vibrant community. South Portland is known for its picturesque landscapes, friendly neighborhoods, and a plethora of recreational activities.
Whether you’re taking a stroll along the scenic Greenbelt Walkway, enjoying a day at Willard Beach, or exploring the historic sites at Bug Light Park, there’s always something exciting to do. Our local restaurants, cafes, and shops offer a delightful array of culinary delights and unique finds.
Market Overview
Median Sale Price: The median sale price of a home in South Portland is $505,000, which is a 3.8% decrease compared to last year.
Price per Square Foot: The median sale price per square foot is $352, showing a 19.7% increase from last year
- Days on Market: Homes in South Portland typically sell after 38 days on the market, compared to 36 days last year.
Market Trends
Competitive Market: The South Portland housing market is very competitive. Many homes receive multiple offers, some with waived contingencies.
Sale-to-List Price Ratio: On average, homes sell for about 1% below list price and go pending in around 32 days. Hot homes can sell for about 2% above list price and go pending in around 10 days
Migration & Relocation Trends:
Inbound vs. Outbound: In recent months, 33% of South Portland homebuyers searched to move out of South Portland, while 67% looked to stay within the metropolitan area.
Popular Destinations: Augusta, Bangor, and Myrtle Beach are popular destinations for those moving out of South Portland
Housing Stock
Types of Homes: Single-family detached homes are the most common housing type, accounting for 55.82% of the city’s housing units. Other prevalent types include large apartment complexes, duplexes, and homes converted to apartments.
Age of Homes: South Portland has a mix of housing built from various periods, with a significant portion built before 1939 and between 1970-1999
Appreciation Rates
Long-Term Investment: Over the last ten years, South Portland has experienced high home appreciation rates, with real estate appreciating 125.66%, averaging an annual appreciation rate of 8.48%
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