Homes in Maine are 6.52 percent more expensive right now than they were at this same time last year, selling for an historic median price of $425,000.
Despite this relatively higher sticker price, the Maine Association of Realtors reports that the total number of homes sold during this same period is also up 3.28 percent to 1,227.
On a county-by-county basis, though, the trend varies. While the state’s average home sale price has soared since last May, eight of Maine’s sixteen counties had median home sale prices below $350,000, six of which reported median prices less than $300,000.
Based on county-level data, Somerset and Waldo counties saw the greatest increase in the number of home sold, coming in at 33.7 percent and 39.02 percent respectively. Knox and Androscoggin counties saw the largest price decreases, calculated at 27.2 percent and 20.83 percent respectively.
The median sale price of Lincoln county homes increased the most by far, rising 17.72 percent to $465,000. Hancock county homes decreased by the largest percentage, dropping 8.53 percent to $198,000.
Cumberland county saw 645 homes sold in May, the most of any county in the state. Piscataquis county had the fewest homes sold, coming in at 62.
Homes in Cumberland county were the most expensive this past May with a median sale price of $570,000. With a median sale price of $198,000, homes were sold for the lowest prices in Washington county.
Nationally, home sale volume only increased by .3 percent since May of 2024. Although the median sale price of homes nationally is higher than Maine’s at $427,800, it represents an increase of just 1.3 percent.
Home sales in the northeast increased 4.2 percent over this period, meanwhile prices jumped by a whopping 7.1 percent to $513,300.
