Maine home sales outpace pre-Covid numbers

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

    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