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Rising
population has caused the housing market
in Gorham and the surrounding regions to
grow dramatically over the last ten years.
Census figures indicate that Gorham contained
5,051 year-round housing units in 2000,
an increase of 25% over the 1990 figure
of 4,048 units, and an increase of over
50% since 1980. Residential development
has continued its strong growth. The Code
Enforcement office has issued 662 permits
for single family homes for the time period
2002-2007. (an
average of 110 homes per year) |
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| Despite
rapid growth, the quality and availability
of the housing in Gorham remains an
attractive feature for prospective buyers.
Well maintained houses on small lots
create a unique village atmosphere in
the Town center, traditional suburban
development convenient to the downtown
area characterizes the nearby neighborhoods,
and more rural sites make up the outlying
sections of Town. A comfortable village
atmosphere situated only a few miles
from Portland and the Maine Mall is
an attribute that makes people select
Gorham over other locations as a place
to live, study, and work. |
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The
average sale price for homes in Gorham
has risen steadily in recent years,
in 2005 it was approximately $245,000,
which was below the Portland MSA
average, but above the average of
many surrounding communities. Many
employees in Gorham are able to reside
in nearby towns where homes are less
expensive and commute a very short
distance to work. Commuter traffic
between Gorham and Portland is an
issue, but congestion problems from
through traffic occurs primarily
at the major intersection in Town.
The Gorham Industrial Park, however,
has access to both Route 25 and New
Portland Road, allowing for convenient
travel to several regional transportation
points. |
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| Average
Sales Price of Homes in the Portland
MSA, 2000-2005 |
| |
2000
|
2001
|
2002
|
2003
|
2004
|
2005 |
| Average
Selling Price: |
$139,000
|
$156,000
|
$175,000
|
$199,000
|
$225,000
|
$250,000 |
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| Source:
Real Estate Multiple Listing Service
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In
1990, 2,270 people commuted to work in Gorham,
creating a housing market area that spans
several towns. Average sale prices for homes
in locations such as Westbrook to the east,
and Buxton to the west are substantially lower,
yet are still only a few minutes drive from
the Gorham Industrial Park. Because of the
variety of housing prices in close proximity
to work centers in Gorham, business development
offering a wide range of wage levels can comfortably
locate in and around the Town.
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Purchase Price of Homes in the Gorham Housing
Market Area
Total Year 2004
|
Town
|
Avg. Selling Price ($)
|
|
Gorham
|
227,450
|
|
Buxton
|
187,000
|
|
Standish
|
188,
000
|
|
Scarborough
|
265,000
|
|
Windham
|
194,000
|
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Westbrook
|
186,000
|
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Portland
|
215,500
|
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Portland
MSA
|
217,000
|
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| Source:
Institute for Real Estate Research and Education |
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