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Maine Home Sales Statistics

Monthly Updates

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Maine Home Connection is the only greater Portland real estate agency updating monthly home sales statistics on a regular basis. Accress Reports by town using the links below:

    
 Local Communities
 
 
 Portland
  
 South Portland
 
 
 Falmouth
 
 
 Scarborough
  
 Cape Elizabeth
 
 
 Cumberland
 
 
 Yarmouth
 
 
 Freeport
 
 
 Old Orchard Beach
  
 Harpswell
  
 
Annual Report
2019 vs 2018 Sales Results
 

July Results

In  Across the state of Maine, sales of single-family homes rebounded in July, as 2.090 properties were sold, representing an 11% increase over July of 2019.  Through the first seven months of 2020, home sales now down 1.3%.

Sales in southern Maine, however, were considerably different.  Sales in Cumberland County were down 6.6% in July 2020 vs 2019 and now have been below prior year every month of 2020 except for January.  Year-to-date sales in Cumberland County are now behind last year by just over 10% while York County is lagging prior year by 5.4%.  The first chart below provides details for most towns in the greater Portland area.

Prices

Median selling prices continue to trend upwards for both single family homes and condos.  The Cumberland County median price of $370,000 for July was the single highest monthly result ever recorded - and by a wide margin.

Inventory & Under Contract

Last month inventory, especially in Cumberland County, was nearly 30% below prior year, and nothing changed in July.  The shortage of inventory, notably in the segment below $500,000, is acute.   What has improved, however, is that properties under contract are up considerably at 17%.  This has also resulted in quick selling times and on-going upward pressure on price appreciation.

The Absorption Rate tracks how long it takes to sell a home given current inventory levels.

 July 2020 Infographic 
July 2020 Home Sales

 

Interative Market Report by Town

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