The number of homes available for sale in Maine has increased substantially since last year, and home prices have also dropped slightly during this same period. The number of homes sold, however, has also decreased over the past twelve months, recent data shows.
According to the Maine Association of Realtors, there were nearly 14 percent more homes on the market in March 2025 compared to March 2024.
Homes are also spending longer on the market, averaging about 22 days — up from 15 days in March of last year. This is more than double the historic low of 9 days experienced in March of 2022.
The median home sale price last month came in at $376,260, representing just under a one percent decrease from the median sale price of $380,000 at this same time last year.
Elsewhere median sales prices grew marginally. Regionally, the median sale price jumped 7.7 percent since March 2024 to $468,000. Nationally, prices increased 2.9 percent to a median of $408,000.
The total number of home sold in March was a little more than six percent less than last year, coming in at 848 compared to 904. Nationwide, sales decreased by just 2.2 percent compared to March of last year.
The Maine Association of Realtors explained in a press release that the shifts indicate a move toward a more balanced market for those currently looking to purchase a home.
Based on county-level data, Androscoggin, Franklin, and Oxford Counties saw the biggest drops in the number of homes sold this past month, while Waldo, Piscataquis, and Lincoln Counties saw the greatest increases.
At the same time, Hancock, Oxford, and Lincoln Counties saw the highest price increases, while Piscataquis, Washington, and Aroostook Counties saw the most substantial decreases.
Cumberland County enjoyed both the highest prices and greatest number of sales in the state.
<span class="dsq-postid" data-dsqidentifier="38544 https://www.themainewire.com/?p=38544">6 Comments
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Maybe something to do with covid escapees from other states selling or people leaving the state due to costs here?
When the illegals start leaving as the money and handouts stop, prices will be even better and more will be available.
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