Home sales are up nearly 10 percent in Maine compared to this same time last year, coming in at a median sale price of $409,450.
According to the Maine Association of Realtors, this represents a 2.36 percent increase over August of 2024.
That said, this is down several thousand dollars from the historic high of $425,000 seen in May and June of this year and about a $10,000 dip since last month.
[RELATED: July Marked 5th Consecutive Month of Inventory Increases for Maine Housing Market]
In a press release shared earlier this week, the Association suggested that “potential home buyers in Maine have more options than they have had over the past five years.”
August was the sixth consecutive month that both the number of homes sold and the number of homes available for sale increased, leading to there being the most homes on the market since October of 2020.
Nationally, home sales increased by 2.5 percent last month compared to 2024, with the median sale price rising by 1.9 percent of $427,800.
The Northeast market saw home sales ease by 2 percent during this same period as prices increased 6.2 percent to $534,200.
County level data for Maine reveals that Lincoln (28.81 percent) and Knox (20.80 percent) saw the greatest percent increase in the number of homes sold within their borders compared to last year.
Three counties — Hancock, Penobscot, and Somerset — saw the total number of homes sold during this period decrease.
Cumberland ($616,000) and York ($550,000) had the highest median sale prices, while homes were cheapest in Aroostook ($178,000) and Somerset ($239,500) counties
Prices rose by the greatest amount in Hancock (9.88 percent) and Androscoggin (8.11 percent) counties, as Sagadahoc (-7.66 percent), Somerset (-2.24 percent), and Knox (-1.10 percent) saw price decreases compared to this same time last year
