The story of this market
The typical home in ZIP 04085 sells for about $492,500, or $218 per square foot.
Prices are roughly flat from a year ago (-0.4%), a market in balance. Homes take about 43 days to sell. HUD's fair market rent for a two-bedroom is $1,551 a month.
ZIP 04085 — Steep Falls
The housing market in ZIP 04085 shows stable conditions with a median sale price of $492,500. Market activity is characterized by a 2.7-month supply and a median of 43 days on market, reflecting a balanced environment for buyers and sellers in the Portland-South Portland metro area.
Median prices moved down 0.4% year over year.
Homes spend a median of 43 days on market with 2.7 months of supply — a fast-moving market.
22% of listings have cut prices · homes sell at 100.1% of asking — demand is running ahead of supply.
no recorded foreclosure-ledger notices (0.0 per 10,000 residents) · unemployment 0.6% · poverty 4.9% — a stable, low-distress profile.
versus the prior ACS vintage
net influx — more people moved in than out
ZCTA 04085, Cumberland County ME
Composed from the ARED governance burden registry — tier-native tax structure (state + county + city + special districts), never averaged. State (Maine) — Maine Resident Homestead Property Tax Exemption: Provides a reduction in the valuation of the homestead for property tax purposes. The exemption amount is set by state statute (currently $25,000 of the just value of the property). The formula is: (Just Value - Homestead Exemption) * Local Tax Rate = Tax Due.
Data retrieved from U.S. Census Bureau ZCTA-level tables.
Key-figure check: no independent anchor retained yet — first-researched cycles establish the anchor baseline this pass.