Mon, 08/23/2021 - 1:00pm

Elisabeth Altshuler, Maine Listings

AUGUSTA (Aug 23, 2021)—Home buyers are still out in force across Maine’s 16 counties. According to Maine Listings, home sales decreased 4.86 percent and prices rose 23.58 percent comparing July 2021 to July 2020. The median sales price (MSP) for the 1,996 homes sold hit $315,000 last month. The MSP indicates that half of the homes were sold for more and half sold for less.

“July’s sales volume figures continue to outpace the pre-COVID numbers from 2019,” says Aaron Bolster, Broker/Owner of Allied Realty in Skowhegan and 2021 President of the Maine Association of REALTORS®. “Though showing a decline from July 2020 of just under five percent, the July 2021 sales volume is seven percent ahead of July 2019.”

The National Association of Realtors today reported a nationwide sales dip of 0.8 percent for single-family existing homes in July 2021 compared to July 2020. Prices across the country increased 18.6 percent to a national MSP of $367,000. Regionally, sales in the Northeast rose 12.1 percent comparing July 2021 to July 2020, while the regional MSP increased 23.6 percent to $411,200 over that same time period.

“Supply, demand, and price are the three concepts to watch,” says Bolster. “Demand for homes in Maine continues to be strong, still out-pacing the available for-sale inventory in many markets across Maine, resulting in rising sold price values.

“For the fourth consecutive month, we’ve seen improving for-sale supply numbers. Active single-family listings were up 7.9 percent during July 2021 compared to June 2021, and up 67.3 percent from the March 2021 low. This is good news for prospective Maine home buyers.”

Below are two charts showing statistics for Maine and its 16 counties. The first chart lists statistics for the month of July 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 May, June and July (2020/2021).

JULY ONLY CHART July 1-31, 2020 – July 1-31, 2021
	NUMBER OF UNITS			MEDIAN SALES PRICE
	2020	2021	%Change	2020	2021	%Change
STATEWIDE	2098	1996	-4.86%	$254,900	$315,000	23.58%

ROLLING QUARTER CHART From May 1, 2020 – July 31, 2020 and May 1, 2021 – July 31, 2021
	NUMBER OF UNITS			MEDIAN SALES PRICE
	2020	2021	%Change	2020	2021	%Change
STATEWIDE	5075	5582	9.99%	$249,000	$310,000	24.50%

Androscoggin	309	362	17.15%	$207,500	$245,000	18.07%
Aroostook	218	259	18.81%	$101,000	$130,000	28.71%
Cumberland	1037	1165	12.34%	$362,000	$450,000	24.31%
Franklin	136	158	16.18%	$198,000	$235,500	18.94%
Hancock	213	273	28.17%	$235,000	$325,000	38.30%
Kennebec	521	489	-6.14%	$195,000	$254,000	30.26%
Knox	155	217	40.00%	$240,000	$360,000	50.00%
Lincoln	145	162	11.72%	$267,800	$359,950	34.41%
Oxford	242	263	8.68%	$191,500	$260,000	35.77%
Penobscot	524	589	12.40%	$170,000	$200,000	17.65%
Piscataquis	115	98	-14.78%	$138,000	$155,000	12.32%
Sagadahoc	124	130	4.84%	$269,950	$343,000	27.06%
Somerset	203	192	-5.42%	$147,500	$169,950	15.22%
Waldo	153	194	26.80%	$195,000	$275,000	41.03%
Washington	132	171	29.55%	$127,100	$160,000	25.89%
York	848	860	1.42%	$329,000	$400,000	21.58%

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