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Biz Bites: Portland s latest residential stats, Maliseet housing development on tap

Anyone who isn t aware of the up up up price trend in Maine residential real estate over the past year is living in a (probabably very expensive) cave. And, in Portland, that s a trend on steroids. The median price of a single-family home in Portland jumped from $460,000 in February to $514,500 in March, according to the monthly stats put out by Benchmark Real Estate. Those listing a home can expect it to spend a zippy six days on the market. Multifamily Portland prices had a similar hike from February, with the median price of $667,500 is up from $612,500. Multifamilies spend about eight days on the market. The state median is $268,500.

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