Condo Media - April 2018 - 53

deadlines of just a few hours to submit
offers, thus putting incredible pressure
on buyers.
Most of this sales activity occurred in
the last two quarters of 2017, and so far,
early 2018 appears to be an extension of
this growing activity. As reported earlier, condo sales have surpassed single
family homes in both volume and price.
In Portland, condos and townhouses
increase 12.9 percent with a median
price ($297,000) increase of 10.1 percent from 2016 driven in part by the
influx on Portland's peninsula of new
luxury condo buildings. As an example,
in 2016 there were only two condo sales
reported over $1 million, while in 2017
there were 10.
MARKET TRENDS
Baby Boomers are retiring in waves
and looking to downsize and leave the
big family home behind and move to
trendy urban settings close to great
restaurants and entertainment. Mil-

lennials are finding the local apartment
markets tight with high rents and aging
inventories. They are ready to grow real
estate equity.
Many want to move to "surban"
which is the new sweet spot between
city and suburb. Surban includes
many of the classic suburban amenities such as highly rated schools and
low crime rates. Many new developments of single-family units, condos,
and townhouses have just been completed or are in progress, with features
favored in cities such as restaurants,
bars, and entertainment, all within a
walkable distance.
For those not wanting the surban lifestyle, all age groups seem to be heading
to the Munjoy Hill neighborhood on the
east end of Portland's peninsula. By far,
this is the hottest condo market in all of
Maine. If you have not visited Munjoy
Hill in the last six or seven years, you
will not recognize it. Condo buildings
are sprouting like mushrooms. This

rush to construction is resulting in
massive cityscape changes, blocked
cherished views of the mountains and
sea, and the loss of old neighborhood
cultures, resulting in the enactment of a
temporary condo building moratorium,
which we recently reported.
Maine is in flux. More condo buildings mean a growing need for property
managers. It means busier real estate
professionals. Construction and service
trades will increasingly be required.
But growth without urban planning and
investment in better infrastructure,
including improved roads and storm
water management, will lead to future
trouble. Mainers need to pay attention
to protect why they live in Maine in the
first place.
■ JACK CARR, P.E., RS, LEED-AP,
IS SENIOR VICE PRESIDENT WITH
CRITERIUM-ENGINEERS SERVING
ALL OF NEW ENGLAND.

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April 2018

53



Table of Contents for the Digital Edition of Condo Media - April 2018

Contents
Condo Media - April 2018 - BB1
Condo Media - April 2018 - BB2
Condo Media - April 2018 - Cover1
Condo Media - April 2018 - Cover2
Condo Media - April 2018 - Contents
Condo Media - April 2018 - 2
Condo Media - April 2018 - 3
Condo Media - April 2018 - 4
Condo Media - April 2018 - 5
Condo Media - April 2018 - 6
Condo Media - April 2018 - 7
Condo Media - April 2018 - 8
Condo Media - April 2018 - 9
Condo Media - April 2018 - 10
Condo Media - April 2018 - 11
Condo Media - April 2018 - 12
Condo Media - April 2018 - 13
Condo Media - April 2018 - 14
Condo Media - April 2018 - 15
Condo Media - April 2018 - 16
Condo Media - April 2018 - 17
Condo Media - April 2018 - 18
Condo Media - April 2018 - 19
Condo Media - April 2018 - 20
Condo Media - April 2018 - 21
Condo Media - April 2018 - 22
Condo Media - April 2018 - 23
Condo Media - April 2018 - 24
Condo Media - April 2018 - 25
Condo Media - April 2018 - 26
Condo Media - April 2018 - 27
Condo Media - April 2018 - 28
Condo Media - April 2018 - 29
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Condo Media - April 2018 - Cover3
Condo Media - April 2018 - Cover4
http://www.nxtbook.com/nxtbooks/mcneill/condomedia_201905
http://www.nxtbook.com/nxtbooks/mcneill/condomedia_201904
http://www.nxtbook.com/nxtbooks/mcneill/condomedia_201903
http://www.nxtbook.com/nxtbooks/mcneill/condomedia_201902
http://www.nxtbook.com/nxtbooks/mcneill/condomedia_201901
http://www.nxtbook.com/nxtbooks/mcneill/condomedia_201812
http://www.nxtbook.com/nxtbooks/mcneill/condomedia_201811
http://www.nxtbook.com/nxtbooks/mcneill/condomedia_201810
http://www.nxtbook.com/nxtbooks/mcneill/condomedia_201809
http://www.nxtbook.com/nxtbooks/mcneill/condomedia_201808
http://www.nxtbook.com/nxtbooks/mcneill/condomedia_201807
http://www.nxtbook.com/nxtbooks/mcneill/condomedia_201806
http://www.nxtbook.com/nxtbooks/mcneill/condomedia_201805
http://www.nxtbook.com/nxtbooks/mcneill/condomedia_201804
http://www.nxtbook.com/nxtbooks/mcneill/condomedia_201803
http://www.nxtbook.com/nxtbooks/mcneill/condomedia_201802
http://www.nxtbook.com/nxtbooks/mcneill/condomedia_201801
http://www.nxtbook.com/nxtbooks/mcneill/condomedia_201712
http://www.nxtbook.com/nxtbooks/mcneill/condomedia_201711
http://www.nxtbook.com/nxtbooks/mcneill/condomedia_201710
http://www.nxtbook.com/nxtbooks/mcneill/condomedia_201709
http://www.nxtbook.com/nxtbooks/mcneill/condomedia_201708
http://www.nxtbook.com/nxtbooks/mcneill/condomedia_201707
http://www.nxtbook.com/nxtbooks/mcneill/condomedia_201706
http://www.nxtbook.com/nxtbooks/mcneill/condomedia_201705
http://www.nxtbook.com/nxtbooks/mcneill/condomedia_201704
http://www.nxtbook.com/nxtbooks/mcneill/condomedia_201703
http://www.nxtbook.com/nxtbooks/mcneill/condomedia_201702
http://www.nxtbook.com/nxtbooks/mcneill/condomedia_201701
http://www.nxtbook.com/nxtbooks/mcneill/condomedia_201612
http://www.nxtbook.com/nxtbooks/mcneill/condomedia_201611
http://www.nxtbook.com/nxtbooks/mcneill/condomedia_201610
http://www.nxtbook.com/nxtbooks/mcneill/condomedia_201609
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http://www.nxtbook.com/nxtbooks/mcneill/condomedia_201603
http://www.nxtbook.com/nxtbooks/mcneill/condomedia_201602
http://www.nxtbook.com/nxtbooks/mcneill/condomedia_201601
http://www.nxtbook.com/nxtbooks/mcneill/condomedia_201512
http://www.nxtbook.com/nxtbooks/mcneill/condomedia_201511
http://www.nxtbook.com/nxtbooks/mcneill/condomedia_201510
http://www.nxtbook.com/nxtbooks/mcneill/condomedia_201509
http://www.nxtbook.com/nxtbooks/mcneill/condomedia_201508
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http://www.nxtbook.com/nxtbooks/mcneill/condomedia_201502
http://www.nxtbook.com/nxtbooks/mcneill/condomedia_201501
http://www.nxtbook.com/nxtbooks/mcneill/condomedia_201412
http://www.nxtbook.com/nxtbooks/mcneill/condomedia_201411
http://www.nxtbook.com/nxtbooks/mcneill/condomedia_201410
http://www.nxtbook.com/nxtbooks/mcneill/condomedia_201409
http://www.nxtbook.com/nxtbooks/mcneill/condomedia_201408
http://www.nxtbook.com/nxtbooks/mcneill/condomedia_201407
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http://www.nxtbook.com/nxtbooks/mcneill/condomedia_201401
http://www.nxtbook.com/nxtbooks/mcneill/condomedia_201312
http://www.nxtbook.com/nxtbooks/mcneill/condomedia_201311
http://www.nxtbook.com/nxtbooks/mcneill/condomedia_201310
http://www.nxtbook.com/nxtbooks/mcneill/condomedia_201309
http://www.nxtbook.com/nxtbooks/mcneill/condomedia_201308
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http://www.nxtbook.com/nxtbooks/mcneill/condomedia_201301
http://www.nxtbook.com/nxtbooks/mcneill/condomedia_201212
http://www.nxtbook.com/nxtbooks/mcneill/condomedia_201211
http://www.nxtbook.com/nxtbooks/mcneill/condomedia_201210
http://www.nxtbook.com/nxtbooks/mcneill/condomedia_201209
http://www.nxtbook.com/nxtbooks/mcneill/condomedia_201208
http://www.nxtbook.com/nxtbooks/mcneill/condomedia_201207
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http://www.nxtbook.com/nxtbooks/mcneill/condomedia_201205
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http://www.nxtbook.com/nxtbooks/mcneill/condomedia_201112
http://www.nxtbook.com/nxtbooks/mcneill/condomedia_201111
http://www.nxtbook.com/nxtbooks/mcneill/condomedia_201110
http://www.nxtbook.com/nxtbooks/mcneill/condomedia_201109
http://www.nxtbook.com/nxtbooks/mcneill/condomedia_201108
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http://www.nxtbook.com/nxtbooks/mcneill/condomedia_200904
http://www.nxtbook.com/nxtbooks/mcneill/condomedia_201003
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http://www.nxtbook.com/nxtbooks/mcneill/condomedia_200912
http://www.nxtbook.com/nxtbooks/mcneill/condomedia_200911
http://www.nxtbook.com/nxtbooks/mcneill/condomedia_200910
http://www.nxtbook.com/nxtbooks/mcneill/condomedia_200909
http://www.nxtbook.com/nxtbooks/mcneill/condomedia_200908
http://www.nxtbookMEDIA.com