In this analysis, we will explore the sales dynamics in the broader Sunday River area, including a deeper dive into the town-by-town land, condo and home sales below, spanning from July 2024 through June 2024.
Please note that we will now be using averages instead of medians for these reports, as it more accurately represents the market.
According to the September press release from the Maine Association of REALTORS®, Maine saw a 1.66% increase in single-family home sales in August 2024 compared to August 2023, with the median sales price rising 7.53% to $400,000. Despite more homes on the market since February, supply remains tight with only a 3.2-month inventory. Nationwide, home sales dropped 3.3%, though prices rose 2.9%. The Northeast region experienced flat sales and a 7.7% increase in median price. For detailed statistics, see the full report here.
Locally, while the average sale price of homes and condos is flat to last quarter, there is a slight increase in sales this quarter. Market activity is increasing to start the fall quarter. As the official agency for Sunday River, we are here to help you navigate the dynamic real estate market, meeting the needs of both buyers and sellers. Our experienced team of brokers has the knowledge and expertise to help you achieve your real estate goals. Schedule a consultation with our skilled brokers today to explore how we can support your home buying or selling journey in the Sunday River area.
