The number of sales of Maine’s single-family existing homes decreased 1.38 percent last month, due to limited market inventory. Prices, however, continued to rise.

According to Maine Listings, May’s state-wide median sales price (MSP) increased 9.95 percent over last May, to $219,900. The MSP indicates that half of the homes were sold for more and half sold for less.

“Even though May’s sold numbers show a slight dip, existing home sales for January through May 2018 are running 1.6 percent above the 2017 pace, which was the strongest year ever for Maine real estate sales,” says Kim Gleason, president of the Maine Association of Realtors. According to Gleason, due to the tight for-sale inventory conditions many markets are reporting that multiple offers are prevalent. “Statewide, we have 14 percent fewer homes for sale than a year ago,” said Gleason, “and 32 percent fewer than 2016. We’re seeing upward pressure on pricing in those markets due to the limited supply.”

According to the National Association of Realtors, sales nationwide eased three percent over the past 12 months, while the national MSP rose 5.2 percent to $267,500. Regionally, sales in the Northeast decreased 11.7 percent and the MSP dipped 1.8 percent to $275,900.

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

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

May only
# Units # Units
Sold 2017 Sold 2018 % Change MSP 2017 MSP 2018 % Change
Statewide 1,524 1,503 -1.38% $ 200,000 $ 219,900 9.95%

Three-month comparison, by county
Chart below compares March through May 2017 with March through May 2018

# Units # Units
Sold Sold
County 2017 2018 % Change MSP 2017 MSP 2018 % Change
STATEWIDE 3,819 3,860 1.07% $ 193,000 $ 210,000 8.81%
Androscoggin 237 276 16.46% $ 153,000 $ 166,875 9.07%
Aroostook 110 151 37.27% $ 72,450 $ 92,000 26.98%
Cumberland 868 888 2.30% $ 285,000 $ 310,000 8.77%
Franklin 78 101 29.49% $ 120,000 $ 133,000 10.83%
Hancock 191 163 -14.66% $ 197,000 $ 187,500 -4.82%
Kennebec 347 345 -0.58% $ 142,000 $ 155,000 9.15%
Knox 139 129 -7.19% $ 187,500 $ 236,000 25.87%
Lincoln 137 121 -11.68% $ 187,000 $ 213,000 13.90%
Oxford 181 165 -8.84% $ 135,000 $ 150,000 11.11%
Penobscot 372 377 1.34% $ 137,550 $ 139,900 1.71%
Piscataquis 61 62 1.64% $ 96,000 $ 120,750 25.78%
Sagadahoc 128 106 -17.19% $ 223,500 $ 230,750 3.24%
Somerset 140 145 3.57% $ 102,250 $ 105,000 2.69%
Waldo 81 69 -14.81% $ 157,000 $ 180,000 14.65%
Washington 74 79 6.76% $ 108,000 $ 106,000 -1.85%
York 675 683 1.19% $ 247,500 $ 285,000 15.15%

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.