AUGUSTA (September 21, 2022) – Sales of existing single-family homes in Maine in August fell 9.89% from August 2021, according to Maine Listings. Values ​​remain high in August, with the median selling price of the 1,859 homes sold hitting $340,000, a 9.68% increase from August 2021. MSP says half of homes sold for more and the other half cheaper.

“Demand for single-family homes in Maine remains strong, with more than 1,850 sales in August,” says Madeleine Hill, 2022 President of the Maine Association of REALTORS® and Designated Broker at Roxanne York Real Estate in Harpswell.

“Although still historically low, active listings have followed an upward trajectory over the past six months, up nearly 25% from July 2022 to August 2022,” Hill added. “With additional inventory for sale, we are seeing a leveling off in some areas of Maine. Buyers are approaching these market trends more strategically, with contractual contingencies and seller concessions becoming more common. »

The National Association of Realtors reported that sales of existing single-family homes fell 19.2% nationwide in August. Prices rose 7.6% to a national MSP of $396,300. Regionally, Northeast sales were down 13.7% and regional MSP increased 1.5% to $413,200.

“If you are in a period of transition and need to navigate these changing real estate market dynamics, a local real estate agent is your go-to source for in-depth knowledge of market conditions and the home buying process. house,” Hill said.

Below are two graphs showing statistics for Maine and its 16 counties. The first chart lists statistics for August 2021 and 2022 only, statewide. The second graph compares the number of existing single-family homes sold (units) and volume (MSP) over the three rolling months of June, July and August (2021/2022).

AUGUST TABLE ONLY

August 1 to 31, 2021 — August 1 to 31, 2022

Number of units sold

Median selling price

2021

2022

%To change

2021

2022

%To change

Statewide

2063

1859

-9.89%

$310,000

$340,000

9.68%

SLIPPER QUARTER GRAPH

June 1, 2021—August 31, 2021 and

June 1, 2022—August 31, 2022

Number of units sold

Median selling price

County

2021

2022

%To change

2021

2022

%To change

Statewide

6032

5328

-11.67%

$310,250

$350,000

12.81%

Androscoggin

409

350

-14.43%

$250,000

$290,000

16.00%

Aroostook

285

236

-17.19%

$130,000

$149,700

15.15%

cumberland

1277

1116

-12.61%

$451,000

$503,500

11.64%

franklin

179

154

-13.97%

$225,000

$234,500

4.22%

Hancock

293

243

-17.06%

$310,000

$400,000

29.03%

Kennebec

543

459

-15.47%

$260,000

$295,000

13.46%

Knox

227

174

-23.35%

$355,000

$435,000

22.54%

lincoln

192

163

-15.10%

$360,000

$400,000

11.11%

Oxford

300

279

-7.00%

$267,000

$275,000

3.00%

Penobscot

625

579

-7.36%

$209,000

$240,000

14.83%

Piscataquis

104

104

0.00%

$172,500

$203,450

17.94%

sagadahoc

135

150

11.11%

$355,000

$395,000

11.27%

Somerset

208

206

-0.96%

$182,250

$200,000

9.74%

Waldo

188

154

-18.09%

$274,450

$323,500

17.87%

Washington

175

129

-26.29%

$160,000

$237,500

48.44%

york

892

832

-6.73%

$400,000

$460,000

15.00%

Source: Maine Real Estate Information System, Inc. (d/b/a Maine Listings). Note: Maine Listings, a subsidiary of the Maine Association of REALTORS, is a statewide multi-listing service with over 6,200 licensees entering data on active and sold property listings. The statistics reflect the properties reported as sold in the system during the periods indicated. Contacts: Maine Association of REALTORS® President Madeleine Hill (Roxanne York Real Estate, Bailey Island) – 207-807-6578 [email protected] Maine Association of REALTORS® President-Elect Carmen McPhail (United Country Lifestyle Properties of Maine, Lincoln ) – 207-290-0371 [email protected] For additional contacts: [email protected]