2024 Fall Market Report

STATEWIDE STATS

According the Maine Association of REALTORS®:

• October 2024: Maine’s single-family home sales increased 3.21% year-over-year, with the median sales price (MSP) rising to $395,000 (up 5.05%). The rolling quarter (August–October) saw a 3.38% sales increase and a 6.67% MSP rise.
• November 2024: Home sales grew 6.81% year-over-year, with an MSP of $385,000 (up 8.45%). The rolling quarter (September–November) showed a 5.05% sales increase and a 7.5% MSP rise.
• December 2024: Home sales declined 6.14% year-over-year, with a median sales price of $350,500 (up 6.21%). The rolling quarter (October–December) saw a 1.08% sales decrease and a 7.35% MSP rise.
• 2024 Year-End: Statewide home sales rose 4.89% compared to 2023, with 14,287 units sold and a median sales price of $390,200 (up 8.39%).
• Prospective buyers are in a better situation than they were a year ago across many markets in Maine. The number of homes for sale has increased, price appreciation is slowing, and the economic forecast is good.

LOCAL INSIGHTS

The average sale price in all segments and the total number of sales has increased since last quarter, as has the average number of days on the market.