$3,146 Closing Credit*
$264,900
636 SqFt
1 Bed
•1 Full Bath
Jake Barakat, Listing Office: Opt
Is South Portland, OR a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2023
At the same time last year, South Portland was a Buyer's Market.
Key Takeaway
South Portland is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in South Portland, OR
How much do homes in South Portland, OR cost?
Median Sold Price
$510,000
$363/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$32,000(+6.7%)
Key Takeaway
Homes in South Portland have sold for 6.7% more than they did a year ago.
Summary: The median home sold price in South Portland was $510,000 in November 2024, up 6.7% from last year, and the median price per square foot was $363.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $325K | $318K | -2.2% |
| 2 Bedrooms | $475K | $487K | +2.5% |
| 3 Bedrooms | $622.5K | $589.9K | -5.2% |
| 4 Bedrooms | $675K | $816K | +20.9% |
| 5+ Bedrooms | $961.5K | $810K | -15.8% |
Summary: South Portland housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 2.2%, 2 bedroom homes increased by 2.5%, 3 bedroom homes decreased by 5.2%, 4 bedroom homes increased by 20.9%, and 5+ bedroom homes decreased by 15.8%.
Housing Supply in South Portland, OR
How many homes are available in South Portland, OR?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 90 | 88 | -2.2% |
Summary: The South Portland real estate market had 88 homes for sale in November 2024, a 2.2% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 14 | 11 | -21.4% |
| 2 Bedrooms | 46 | 45 | -2.2% |
| 3 Bedrooms | 22 | 24 | +9.1% |
| 4 Bedrooms | 8 | 8 | 0.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The South Portland housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 21.4%, 2 bedroom homes decreased by 2.2%, 3 bedroom homes increased by 9.1%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 11 | 15 | +36.4% |
Asking Price vs. Sold Price
11 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in South Portland, you may be able to get a good deal. 73.3% of homes here sold below asking price last month.
Summary: A total of 15 homes were sold or pending in South Portland in November 2024, up by 36.4% month-over-month. Of the 15 sold homes, 73% were sold under asking, 7% were sold at asking, and 20% were sold over asking.
Days on Market for South Portland, OR
How long does it take to sell a home in South Portland, OR?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 17 Days | 105 Days | +492.9% |
Summary: Homes in South Portland had an average of 105 days on market in Nov 2024, up by 492.9% compared to last year.
Breakdown of Home Sale Times
7 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
5 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in South Portland are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 15 homes were sold in South Portland; 47% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 33% of homes were sold over 90 days.
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