There are currently 8,679 real estate properties in South Portland, ME, with a median automated valuation model (AVM) price of $379,900.00. What is an AVM? It is a smart computer program that analyzes and predicts the approximate value of a home, property or land in South Portland, ME, based on current market trends, comparable real estate sales nearby, historical data and, of course, property features, among other variables. These automated home estimates are often very helpful, providing buyers and sellers with a better idea of a home’s value ahead of the negotiation process. For example, the average home price in South Portland, ME, is $399,542.00, with the most expensive house in South Portland, ME, topping out at $3,039,200.00 and the cheapest home in South Portland, ME, clocking in at $109,000.00. In other words, there’s something for every potential homebuyer or savvy investor in South Portland, ME!
With the expiration of certain local, state and federal housing-related restrictions and mandated programs, the rental market in South Portland, ME, is on a rollercoaster ride. The average rent price in South Portland, ME, is $1,540.00. Indeed, when looking to rent in South Portland, ME, you can expect to pay as little as $780.00 or as much as $3,160.00, with the average rent median estimated to be $1,570.00. The good news is that finding an affordable and desirable property to rent in South Portland, ME -- whether it’s apartments, townhomes, condominiums or single-family homes -- is made easier with knowledge of the local market and, of course, a little patience.
Find the best foreclosure homes listings for sale — bank-owned, government (Fannie Mae, Freddie Mac, HUD, etc.) and others — in and near the South Portland, ME area at Foreclosure.com. Get information on foreclosure homes for rent, how to buy foreclosures in South Portland, ME and much more. Save thousands at closing with home foreclosure listings in South Portland, ME — up to 75% off market value!
South Portland is located in Cumberland, Maine, with an estimated municipal population of 25,532 residents. All of the best foreclosed homes for sale in South Portland are located in the following zip code areas on Foreclosure.com: 04106. The estimated population per square kilometer (.62 miles) in South Portland is 816.
So, about how much do homes cost in South Portland? The most recent median value of resident-owned homes in South Portland is 258,358. An estimated 63.4 percent of households in South Portland own their homes, with an average family size of 2.91. The median household income in South Portland is 69,290, with30.5 percentage of households earning at least $100,000 annually. For working parents and professionals who are searching for cheap homes in South Portland, the median commute time of resident workers (in minutes) is 18.8. And last, but certainly not least, are you looking for homes to rent in South Portland? If so, the average rent price paid by renters in South Portland is 1,305, according to recent statistics.
Where a home is located is almost just as important as the home itself. Whether you are a first-time homebuyer or are relocating to South Portland, it is essential to take a deep dive into your potential future neighborhood. Homeownership is often a long-term relationship; therefore, be sure to do your due diligence to ensure that you make the best long-term decision.
The median age of residents in South Portland is 41.9, split between 47.9 percent male versus 52.1 female. The percentage of residents who report being married in South Portland is 43.1, with an average family size of 2.91.
The percentage of residents who report their race in South Portland is as follows:
|Black / African American||4.3%|
|American Indian / Alaskan Native||0.3%|
|Native Hawaiian / Other Pacifc Islander||0%|
Looking for family-friendly neighborhoods in and/or near South Portland? Or maybe you are searching for 55+ active adult communities in and/or near South Portland?
The percentage of residents who report their age in South Portland is as follows:
It was a rollercoaster ride for academics in 2020, with school districts throughout the nation transferring their classes online because of the global pandemic. Numerous school districts will continue online courses, while others will welcome students back to campus. Regardless, homebuyers are shopping for homes in South Portland with dedicated in-home learning spaces, as well as for homes located within the best school systems for in-person instruction in South Portland.
How do you know that living in -- or moving to -- South Portland is right where you need to be? Perhaps you grew up in South Portland or already live nearby; therefore, the decision to buy a home in South Portland is a no-brainer. For others, however, it may not be such a straightforward or simple decision. Whether you are relocating to South Portland for work or just looking for a fresh start, getting a read on a neighborhood from afar (online) can be tricky... and exhausting.
Here are some questions to ask yourself when shopping for foreclosed homes for sale in South Portland:
In short, it always helps to create a “Pros vs. Cons” list of what you need in a home and/or neighborhood like South Portland.
Prospective homebuyers are clearly taking advantage of the low interest rates and numerous government assistance programs. These low interest rates mean homebuyers in South Portland can now afford much more house for the same monthly payment (if interest rates were higher). Motivated and opportunistic sellers in South Portland, meanwhile, can field multiple offers from more qualified buyers.
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