The real estate market is on fire in Maine’s largest city.
In many cases, homes are being snapped up even before they hit the market. Some say the market conditions are mimicking that of 2006.
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Homes are being listed for sale and they’re going under contract within days, if not hours in many cases.
A three-bedroom home in the North Deering neighborhood of Portland listed for just under $290,000. After seven days on the market and an open house, there were five offers, four of them above asking price.
“I had some buyer clients from out of town. We identified six condos to look at. I set those up on a Monday and by the time they arrived on Wednesday afternoon to look at them, four of them were under contract,” said Marc Chadbourne of Oceangate Realty.