Posts Tagged: real estate market report

March 2024 Market Update

The month of February saw a statewide uptick in both sales and home prices, due to continued buyer demand and an increase in single-family homes available for sale. Statistics shared by Maine Listings indicate a jump in home sales of 11.44 percent, comparing February 2024 to February of last year. The median sales price increased… Read more »

January 2024 Market Update

Maine continues to see a steady increase of qualified buyers while lack of inventory and current interest rates contribute to a lower-than-average number of real estate transactions.  Statistics shared by Maine Listings indicate a 6.14 percent decrease in sales comparing December 2023 to December 2022. For that same time, the median sales price increased 6.21… Read more »

October 2023 Market Update

The availability of single-family homes remains lower than average with Realtors across the state reporting just 1,410 homes being sold in September 2023, a 25.4 percent decrease compared to September of last year. The statewide median sales price (MSP) increased 14.17 percent to $376,750. The MSP indicates that half of the homes were sold for… Read more »

August 2023 Market Update

Demand for single-family homes remains high across the state. Statistics shared by Maine Listings indicate a 7.34 percent increase in prices for July 2023 compared to July 2022, reaching a median sales price (MSP) of $380,000. The MSP indicates that half of the homes were sold for more and half sold for less. The number… Read more »

July 2023 Market Update

Though real estate inventory across the state remains low, a slight increase in home values suggest there are positive signs on the horizon. Statistics shared by Maine Listings show sold prices for homes increased 6.45 percent in June 2023 compared to June 2022, reaching a median sales price (MSP) of $385,000. The MSP indicates that… Read more »

June 2023 Market Update

Low for-sale inventory continues to hinder buying efforts across Maine. Statistics shared by Maine Listings show sold-prices for homes increased 6.57 percent in May 2023 compared to May of last year, with a median sales price (MSP) of $373,000. The MSP indicates that half of the homes were sold for more and half sold for… Read more »

April 2023 Real Estate Market Update

Interest rates and lower-than-normal inventory led to a single-family existing home sales decline of 16.78 percent in March. According to Maine Listings, 858 homes changed hands last month, compared to 1,031 homes in March 2022. The median sales price for homes sold rose 3.85 percent to $337,500 comparing March 2023 to March 2022. The MSP… Read more »

March 2023 Real Estate Market Update

Availability of properties for sale continues to be an issue for buyers of single-family existing homes across Maine. According to Maine Listings, Realtors sold 708 homes last month—a dip of 19.4 percent from February 2022. Prices increased 10.7 percent in the past year, with data indicating a median sales price (MSP) of $329,250. The MSP… Read more »

February 2023 Lincoln County Maine Real Estate Update

Sales of single-family existing homes in Maine continue to be affected by rising mortgage interest rates and a smaller number of available homes for sale. Maine Listings announced a 34.99 percent sales decrease in January 2023, compared to January 2022. The median sales price (MSP) for homes sold in January 2023 reached $325,000, an increase… Read more »

December 2022 Market Update

Buyers of single-family existing homes across Maine are still encountering a lower-than-normal inventory of homes available for purchase. According to Maine Listings, 1,289 homes changed hands in November, a decline of 28.7 percent from November one year ago. The median sales price (MSP) for homes sold reached $325,000—up 8.3 percent from November 2021. The MSP… Read more »

November 2022 Market Update

2022 YEAR-TO-DATE MARKET AND SALES UPDATE * According to the Maine Association of Realtors, buyer demand remains healthy in Maine, while rising interest rates and tight inventory continue to affect the real estate market. Maine Listings reported a 7.79 percent rise in the cost for a single-family existing home, which reached a median sales price… Read more »

August 2022 Market Update

Though for-sale inventory remains low, home buyer interest persists across Maine. According to Maine Listings, 1,691 homes were sold statewide for the month of July, a decrease of 15.28 percent compared to July 2021. The median sales price (MSP) reached $354,000, an increase of 12.38 percent since this time last year. The MSP indicates that… Read more »

July 2022 Market Update

According to Maine Listings, sales of single-family homes in Maine saw a decline of 9.83 percent, presumably in response to rising interest rates. Compared to June 2021, the statewide median sales price (MSP) jumped 16.4 percent in June 2022 reaching $360,825. The MSP indicates that half of the homes were sold for more and half… Read more »

June 2022 Market Update

As for-sale inventory remains a limiting factor, home values continue to climb. Statistics shared by Maine Listings show the statewide median sales price (MSP) reached $350,000 in May 2022, an increase of 14.75 percent over May of last year. The MSP indicates that half of the homes were sold for more and half sold for… Read more »

May 2022 Market Update

Prices for single-family existing homes in Maine saw a jump of 25.36 percent in April 2022 compared to April of last year. Statistics shared by the Maine Association of Realtors indicated the sale of 1,143 homes in April 2022, a decrease of 20.90 percent over April 2021. The statewide median sales price (MSP) for homes… Read more »

April 2022 Market Update

The Maine real estate market is beginning to see a gradual return of for-sale single-family homes. Statistics shared by Maine Listings show a 21.48 percent sales decline in March 2022 compared to March 2021, due to an ongoing lack of for-sale inventory combined with increased buyer demand. 1,031 homes were sold statewide last month with… Read more »

March 2022 Market Update

Persistent buyer demand for Maine real estate combined with low for-sale inventory continues to fuel a competitive market, driving sale prices higher. According to Maine Listings, February 2022 sales declined 17.33 percent compared to February 2021, while the median sales price (MSP) increased 21.48 percent, reaching $297,500. The MSP indicates that half of the homes… Read more »

February 2022 Market Update

Maine real estate experienced another historic high for sales of single-family homes in the month of January. Though statistics shared from Maine Listings indicate a slight decrease of 7.2 percent in sales compared to January of last year, sales numbers are still experiencing the positive effects of COVID-19. Sales in January 2022 exceeded those of… Read more »

January 2022 Market Update

Strong demand for single-family homes in Maine persisted for the full sales year of 2021. Statistics shared by Maine Listings indicated the statewide median sales price (MSP) reached $299,000 last year, showing an increase of 16.8 percent with the number of sales increasing 2.41 percent.  The MSP indicates that half of the homes were sold… Read more »

December 2021 Market Update

While increased demand for single-family homes in Maine continues, for-sale inventory remains lower than usual. Data released by Maine Listings showed a slight sales decrease of 7.99 percent in November 2021 while prices increased 11.11 percent compared to November 2020. The median sales price (MSP) reached $300,000, compared to $270,000 in November of last year…. Read more »