Friends, Happy New Year!
As we head into 2026, it’s a good moment to step back and look at what actually moved the Portland real estate market over the past 12 months. Rather than broad averages alone, this review looks at the highest sales and key market statistics across three core property types: single-family homes, condominiums, and two- to four-unit apartment buildings. (Bonus - I tossed in the top sales statewide as well)
The goal is simple: to understand where pricing, demand, and market behavior shifted in 2025 compared to 2024, what remained stable, and what those patterns may signal as buyers, sellers, and investors make decisions in the year ahead.
What follows is a snapshot of the top sales in each category, paired with a year-over-year comparison of volume, pricing, and market pace.
Portland's Highest Single-family Sale 2025
112 Vaughan St. $3,809,000. 8br. 6 full and 1 half bath. 6,466sf
Single-family performance was stable year over year:
- Number of sales: 417 in 2025 vs. 424 in 2024 (down 1.7%)
- Total sold volume: $301,283,486 in 2025 vs. $290,150,137 in 2024 (up 3.8%)
- Average sold price: $722,502 in 2025 vs. $684,316 in 2024 (up 5.6%)
- Average price per square foot: $389.29 in 2025 vs. $392.81 in 2024 (down 0.9%)
- Average days on market: 28 in 2025 vs. 24 in 2024 (up 16.7%)
The highest-priced single-family sale of 2025 was 112 Vaughan Street, closing at $3,809,000. With eight bedrooms, six full and one half bath, and 6,466 square feet, it stands as a reminder that trophy properties continue to transact at the very top of the market.
From a market-wide perspective, single-family sales activity remained remarkably stable year over year. The number of sales dipped slightly from 424 in 2024 to 417 in 2025, a decline of about 1.7 percent. Despite that modest drop in transaction count, total sales volume increased from roughly $290.2 million to $301.3 million, a gain of about 3.8 percent.
The average sale price rose from $684,316 to $722,502, representing an increase of approximately 5.6 percent. This suggests that while slightly fewer homes traded hands, buyers continued to pay more on average for those that did. Price per square foot, however, was essentially flat, slipping less than 1 percent year over year. That stability points to pricing gains being driven more by home size, quality, or location than by across-the-board appreciation.
Average days on market increased from 24 to 28 days, a roughly 17 percent increase. While homes are still selling quickly by historical standards, this subtle slowdown suggests a market that is giving buyers slightly more room to evaluate options, rather than one driven by urgency alone.
Portland's Highest Condo Sale 2025
387 Commercial St. #708. $$2,995,000. 3br. 2.5bth. 2,005sf
Condo activity, however, declined compared to 2024:
- Number of sales: 295 in 2025 vs. 371 in 2024 (down 20.5%)
- Total sold volume: $196,521,246 in 2025 vs. $273,487,635 in 2024 (down 28.1%)
- Average sold price: $666,550 in 2025 vs. $737,163 in 2024 (down 9.6%)
- Average price per square foot: $538.89 in 2025 vs. $569.88 in 2024 (down 5.4%)
- Average days on market: 58 in 2025 vs. 60 in 2024 (down 3.3%)
The top condo sale of 2025 was Unit 708 at 387 Commercial Street, closing at $2,995,000. At just over 2,000 square feet with three bedrooms and 2.5 baths, it reflects continued demand for high-end waterfront and urban living, even in a shifting condo market.
Overall condo activity told a different story than single-family homes. The number of condo sales fell significantly, from 371 in 2024 to 295 in 2025, a decline of just over 20 percent. Total sales volume dropped even more sharply, down about 28 percent year over year, from approximately $273.5 million to $196.5 million.
Average sale price declined from $737,163 to $666,550, a decrease of roughly 9.6 percent. Average price per square foot also fell by about 5.4 percent. These declines suggest that the condo market experienced more price sensitivity in 2025, particularly outside the very top tier of the market.
Despite the drop in activity and pricing, average days on market improved slightly, falling from 60 to 58 days. This indicates that well-priced condos continued to move, even as overall demand softened. The takeaway here is a more selective condo buyer pool, with pricing discipline playing a larger role in successful sales.
Portland's Highest Priced 2-4 Unit Sale 2025
4 St Lawrence St. 2 units. 4,842 SqFt
Small multifamily showed notable strength:
- Number of sales: 107 in 2025 vs. 81 in 2024 (up 32.1%)
- Total sold volume: $98,232,599 in 2025 vs. $71,059,400 in 2024 (up 38.3%)
- Average sold price: $936,508 in 2025 vs. $862,649 in 2024 (up 8.6%)
- Average price per square foot: $305.86 in 2025 vs. $308.99 in 2024 (down 1.0%)
- Average days on market: 33 in 2025 vs. 32 in 2024 (up 3.1%)
The highest-priced two- to four-unit sale of 2025 was 4 St. Lawrence Street, a two-unit property totaling 4,842 square feet. While individual sale prices in this category rarely make headlines, the broader trends are especially telling.
Unlike condos, the small multifamily market strengthened meaningfully in 2025. The number of sales rose from 81 in 2024 to 107 in 2025, an increase of about 32 percent. Total sales volume jumped from roughly $71.1 million to $98.2 million, a gain of more than 38 percent.
Average sale price increased from $862,649 to $936,508, up approximately 8.6 percent. Price per square foot remained essentially flat, declining by just over 1 percent. Days on market edged up slightly from 32 to 33 days, indicating steady demand without signs of overheating.
This combination of higher volume, rising average prices, and stable pricing per square foot points to sustained investor and owner-occupant interest in income-producing properties, even in a higher-rate environment. The data suggests buyers are focused on long-term fundamentals rather than short-term market timing.
What this tells us heading into the new year?
CLICK HERE - Read MaineBiz Article
Across all three categories, the Portland market in 2025 showed signs of normalization rather than contraction. Single-family homes remained resilient, with prices rising despite a marginal slowdown in pace. Condos saw the most adjustment, with lower volume and pricing reflecting a more cautious buyer pool (be cautious reading too much into condo data - see press release). Two to four unit properties stood out as a growth segment, benefiting from demand for flexibility, income potential, and long-term value.
What stands out most is what did not change dramatically. Pricing per square foot remained largely stable across property types, and days on market shifted only modestly. That consistency suggests a market finding its footing, not one under stress.
As we move into the year ahead....
- BUYERS - should be out there looking and offering now, as the spring and early summer will be active with lower rates, more inventory, and inevitable bidding wars.
- SELLERS - now is the time to meet with my team and me to ensure you go to market under the best possible circumstances and achieve the best results.
Contemplating a purchase or sale? Know someone who is or might be? Connect with us. Those who plan ahead - plan for success....
