Windham, because of its unique position as a center of commerce in the Lakes Region and its proximity to Greater Portland, Windham may be better prepared to weather the recession, town officials and a real estate development said in recent interviews.

Home prices and sales have not dropped off as precipitously in Windham as in other communities around the state and country, and businesses are staying open and expanding, even as consumer spending overall is dropping.

Part of the secret to Windham’s relative success is that it has a wide and varied business base, said Tom Bartell, the town’s economic development director. Windham draws shoppers from a large region, he said, and many of the shops and manufacturers fill a specific need, the kind that are not as connected to the ebb and flow of the economy.

“We don’t have a lot of vacancies in the commercial district right now,” said Tom Bartell, economic development director. “We haven’t seen a large shutdown. We’ve got a niche of small companies and specialized manufacturers.”

Just last week, a new Italian market opened on Route 302. Popular sandwich shop Mangino’s sold recently as well, and a redemption center popped up on Route 115. The town’s third veterinarian is also on the way.

“Talking to business owners and the Chamber, I think most businesses in the area are confident they are going to get through this,” said Bartell.

New construction has suffered in Windham, just as it has in other communities. In 2007, 72 applications were submitted for the construction of new, single-family homes, close to the average for the last three years. But that number dropped to 38 in 2008, and most of those applications were submitted in the early part of the year, before the credit crisis truly hit, said Code Enforcement Officer Roger Timmons. The trend is expected to continue through this year.

“This upcoming building season will be, if anything, continuation of existing buildings,” said Brooks More, town planner.

But the housing market in Windham has not been as affected by the downturn as other areas, said developer Greg McCormack of Mulkerin Real Estate. Statewide, sale prices have fallen more than 7 percent, while in Windham the decline has been less, maybe 5 percent, McCormack said. Also, he said, foreclosures and distressed sales have been an extremely small part of the market.

“I suspect that most property owners in Windham did not stretch themselves in their purchases and did not use exotic financing to obtain their homes,” McCormack said in an e-mail. “Further, I think it is testimony to the desirable amenities of the Lakes Region, its proximity to Portland, as well as the vibrance of the local business sector.”

Homes in Sebago Heights, a 90-lot, single-family neighborhood being developed by Mulkerin, are still selling, albeit at a slower rate, McCormack said. In 2006, Mulkerin was averaging 10 sales a year at Sebago Heights. That number has fallen to six a year. But given the economic climate, McCormack considers that a success, and credits Windham’s geographical location as well as the demand for energy-efficient, low-maintenance homes.

As credit markets stabilize, McCormack sees the housing market returning to form, sooner possibly in Windham than elsewhere.

“I believe that the market in Windham will return to a more balanced situation quicker than most communities,” he said. “It will take a while to work off the current housing inventory, but with lower interest rates and lower prices, mortgage costs are often lower than rental costs. With that trend continuing and a stabilization of the employment picture, the market will be back to a more balanced position within a period of months.”