Maine experienced solid gains in both sales prices and sales volume for single-family home sales during July. According to the Maine Association of Realtors, 1,864 single-family existing homes were sold last month — that’s a 9.65-percent increase compared to July 2017. The median sales price (MSP) was up 9.22 percent to $225,000. The MSP indicates that half of the homes sold for more and half sold for less.

According to Kim Gleason, 2018 president of the Maine Association of Realtors, the continuing rise in home prices is related to the low inventory levels of houses for sale. “Statewide we’re seeing 12 percent fewer homes for sale than a year ago.”

The National Association of Realtors reported the number of sales was down 1.2 percent compared to last July, while prices rose 4.6 percent to an MSP of $272,300. Regionally, the number of home sales in the Northeast fell 1.5 percent in July, and the regional MSP was up 6.8 percent to $309,700.

Below are sales statistics for Maine and its 16 counties, leading off with statewide statistics for the month of July only. The county-by-county list then compares the number of existing, single-family homes sold (units) and the median sales price (MSP) during May, June and July 2017, as compared to the same three months in 2018.

M A I N E   R E A L   E S T A T E   S T A T S

July Only
# Units # Units
Sold 2017 Sold 2018 % Change MSP 2017 MSP 2018 % Change
Statewide 1,700 1,864 9.65% $206,000 $225,000 9.22%

Three-Month Comparison, by County:
Chart below compares May through July 2017 with May through July 2018
# Units # Units
County Sold 2017 Sold 2018 % Change MSP 2017 MSP 2018 % Change
STATEWIDE 5,113 5,304 3.74% $205,000 $225,000 9.76%
Androscoggin 330 358 8.48% $165,000 $175,000 6.06%
Aroostook 140 169 20.71% $85,300 $89,500 4.92%
Cumberland 1,222 1,259 3.03% $295,000 $320,000 8.47%
Franklin 123 132 7.32% $125,000 $146,225 16.98%
Hancock 208 204 -1.92% $187,500 $208,750 11.33%
Kennebec 498 502 0.80% $150,000 $167,700 11.80%
Knox 162 181 11.73% $235,000 $249,000 5.96%
Lincoln 155 155 0.00% $200,000 $239,000 19.50%
Oxford 221 219 -0.90% $150,000 $156,000 4.00%
Penobscot 529 541 2.27% $150,000 $145,000 -3.33%
Piscataquis 76 100 31.58% $102,500 $99,000 -3.41%
Sagadahoc 156 154 -1.28% $213,200 $231,500 8.58%
Somerset 174 164 -5.75% $119,850 $119,700 -0.13%
Waldo 138 130 -5.80% $167,950 $183,500 9.26%
Washington 89 101 13.48% $118,000 $110,000 -6.78%
York 892 935 4.82% $260,000 $279,900 7.65%

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 4,700 licensees inputting active and sold property listing data.