With historically low interest rates and more buyers than sellers, sales of single-family existing Maine homes increased 22.78% comparing September 2020 to September 2019. The median sales price for homes sold in September 2020 rose 19.56% to $273,500, according to Maine Listings.

January through September 2020 sales are 2.6% ahead of the comparable time period for 2019 — Maine’s best year ever. Typically, about 25% of home purchases in Maine are made by out-of-state buyers; the percentage has increased to around 33%. In September 2019, Maine had 445 single-family homes purchased by out-of-state buyers. In September 2020, the number was 735.

The National Association of Realtors reports that sales nationwide are up 21.8% comparing September 2020 to September 2019, and the national MSP reached $316,200 in September 2020 — a rise of 15.2%. In the Northeast, sales of single-family existing homes jumped 22.9%; the regional MSP of $354,600 reflects a 17.8% increase.

On a “rolling quarter” basis — comparing sales for the three-month period ending with September, Knox County sales increased 39% from 179 home sales in 2019 to 249 this year, while MSP increased nearly 13% from $235,000 to $265,000.

Rolling-quarter sales in Lincoln County increased 43.5% from 177 in 2019 to 254 in 2020, while MSP increased 21% from $250,000 to $303,000.

Rolling-quarter sales in Waldo County increased 39% from 146 homes in September 2019 to 203 in September 2020, while MSP increased nearly 14% from $202,850 to $231,000.

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

# Units # Units
September only Sold 2019 Sold 2020 % Change MSP 2019 MSP 2020 % Change
Statewide 1,866 2,291 22.78% $228,750 $273,500 19.56%

Three-month comparison, by county:
Chart below compares July 1, 2019 – Sept. 30, 2019 and July 1, 2019 – Sept. 30, 2020
# Units # Units
County Sold 2019 Sold 2020 % Change MSP 2019 MSP 2020 % Change
Statewide 5,870 6,555 11.67% $230,000 $265,000 15.22%
Androscoggin 369 404 9.49% $185,000 $216,805 17.19%
Aroostook 217 268 23.50% $100,000 $109,000 9.00%
Cumberland 1,336 1,370 2.54% $330,000 $375,000 13.64%
Franklin 136 177 30.15% $153,500 $194,000 26.38%
Hancock 262 342 30.53% $225,000 $260,000 15.56%
Kennebec 604 614 1.66% $179,450 $209,650 16.83%
Knox 179 249 39.11% $235,000 $265,000 12.77%
Lincoln 177 254 43.50% $250,000 $303,000 21.20%
Oxford 285 307 7.72% $170,000 $202,000 18.82%
Penobscot 630 618 -1.90% $155,000 $175,000 12.90%
Piscataquis 121 153 26.45% $135,000 $155,000 14.81%
Sagadahoc 150 132 -12.00% $246,000 $282,250 14.74%
Somerset 183 249 36.07% $130,000 $153,000 17.69%
Waldo 146 203 39.04% $202,850 $231,000 13.88%
Washington 140 194 38.57% $129,750 $165,500 27.55%
York 935 1,021 9.20% $309,000 $355,000 14.89%

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.