Despite a relative flatlining of year-on-year real estate prices nationwide, Maine home sales are up from where they were last June, an industry survey shows.
Maine home sales were up 10.51 percent in June compared to this same time last year. At the same time, the median sale price rose by 4.94 percent to $425,000, according to the Maine Association of Realtors.
A median sale price of $425,000 was reached in Maine for the first time in May of this year, at which time it was described as an “historic” high.
[RELATED: Median Sale Price of Maine Homes Rose to Historic $425,000 in May]
For the first time since October of 2020 for-sale inventory exceeded 5,000 homes. Coming in at 5,047, Maine’s for-sale inventory increased 14 percent since May. This resulted in 17 percent more home sales compared to last month.
Regionally, home sales in New England declined last month, dropping 4.2 percent in comparison to June of 2024. Much like in Maine, however, home prices rose 4.2 percent during this same period to a median of $543,300.
Nationwide, home sales saw a modest .6 percent increase, while prices increased 2 percent to $441,500.
Compared to 2024, Waldo County saw the greatest increase in home sales last month, jumping over 30 percent in the past year. This was followed by Somerset and Lincoln Counties, both of which saw a roughly 20 percent increase.
Home sales have dropped since this time last year in a number of Maine counties. Most significantly, Knox and Androscoggin Counties saw around an 11.5 percent decrease in home sales since June of 2024.
Median home sale prices fell by around 8.5 percent in Knox and Waldo Counties, meanwhile Washington County saw a more than 27 percent increase compared to June of last year.
The most expensive homes were sold in Cumberland County last month with a median sale price of $600,000. This is up 3.45 percent since June of 2024.
