Maine home sales jump 35.68 percent; prices up 17.05 percent

Sun, 05/23/2021 - 8:00am

    Highly motivated buyers of single-family existing homes continue to pursue Maine real estate options. Statistics released today by Maine Listings show a 35.68 percent sales leap in April 2021 compared to April 2020. The statewide median sales price (MSP) reached $276,000—an increase of 17.05 percent comparing April 2021 to April 2020. The MSP indicates that half of the homes were sold for more and half sold for less.

    “Maine’s residential real estate market continues to be fast-paced,” says Aaron Bolster, Broker/Owner of Allied Realty in Skowhegan and 2021 President of the Maine Association of REALTORS®, “The April 2021 statistics released today reflect a comparison to one year ago, when the state of Maine was in COVID-shutdown status. Last month’s sales volume was strong—13 percent above the pre-pandemic April 2019 figures.

    “As homes come onto the market, buyers are waiting and ready,” added Bolster. “Statewide, the Days on Market for April 2021 was eight days, compared to 25 days one year ago, and 46 days in 2019.”

    The National Association of Realtors reported strong year-over-year sales of single-family existing homes in April. According to NAR, sales were up 28.9 percent nationwide, and the national MSP rose 20.3 percent to reach $347,400 Comparing April 2021 to April 2020. Regionally, the Northeast experienced a significant sales boost—a 30.4 percent volume increase—while the regional MSP increased 22.0 percent to $381,100 over that same time period.

    “We expect that improving COVID metrics and back-to-the-office vs. telework decisions may help stabilize the market urgency and upward pricing pressures that we’re experiencing. A REALTOR® is your best resource to navigate these market conditions, whether you’re selling or buying.”

    Below are two charts showing statistics for Maine and its 16 counties. The first chart lists statistics for the month of April 2020 and 2021 only, statewide. The second chart compares the number of existing, single-family homes sold (units) and volume (MSP) during the rolling three months of February, March and April (2020/2021).     

     

    APRIL ONLY CHART

    April 1-30, 2020 – April 1-30, 2021

     

     

    NUMBER OF UNITS

    MEDIAN SALES PRICE

     

    2020

    2021

    %Change

    2020

    2021

    %Change

    STATEWIDE

    1065

    1445

    35.68%

    $235,800

    $276,000

    17.05%

     

    ROLLING QUARTER CHART

    From February 1, 2020 – April 30, 2020 and

    February 1, 2021 – April 30, 2021

     

     

    NUMBER OF UNITS

    MEDIAN SALES PRICE

     

    2020

    2021

    %Change

    2020

    2021

    %Change

    STATEWIDE

    3054

    3820

    25.08%

    $228,007

    $265,000

    16.22%

     

     

     

     

     

     

     

    Androscoggin

    215

    231

      7.44%

    $185,000

    $220,000

    18.92%

    Aroostook

    122

    201

    64.75%

      $91,500

      $99,000

      8.20%

    Cumberland

    653

    669

      2.45%

    $334,900

    $410,000

    22.42%

    Franklin

    84

    124

    47.62%

    $159,250

    $180,700

    13.47%

    Hancock

    129

    219

    69.77%

    $230,000

    $278,500

    21.09%

    Kennebec

    266

    331

    24.44%

    $175,000

    $228,000

    30.29%

    Knox

    107

    146

    36.45%

    $248,000

    $285,000

    14.92%

    Lincoln

    82

    132

    60.98%

    $252,500

    $326,000

    29.11%

    Oxford

    155

    187

    20.65%

    $165,000

    $222,900

    35.09%

    Penobscot

    309

    417

    34.95%

    $148,500

    $187,975

    26.58%

    Piscataquis

    62

    90

    45.16%

    $117,500

      $155,000

             31.91%

    Sagadahoc

    81

    85

      4.94%

    $235,000

    $325,000

    38.30%

    Somerset

    106

    159

    50.00%

    $123,250

    $162,000

    31.44%

    Waldo

    76

    129

       69.74%

    $202,000

    $250,000

    23.76%

    Washington

    70

    138

    97.14%

    $131,500

    $159,500

             21.29%

    York

    537

    562

      4.66%

    $304,000

    $363,000

    19.41%

     

     

    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 Multiple Listing Service with over 5,600 licensees inputting active and sold property listing data.  Statistics reflect properties reported as sold in the system within the time periods indicated. Contacts: Maine Association of REALTORS® President Aaron Bolster (Allied Realty, Skowhegan) – (207) 399-9005  abolster@alliedrealty.net  Maine Association of REALTORS® President Elect Madeleine Hill (Roxanne York Real Estate, Bailey Island) – 207-807-6578  mhill.realestate@gmail.com   For additional names:  suzanne@mainerealtors.com