A total of 1,486 homes were sold in Maine during September, up 5.39% from the 1,410 transactions recorded one year earlier.
According to data from the Maine Association of Realtors, the state’s median sales price last month was $409,450, up 8.68% from the $376,750 price in September 2023.
“The statewide sold statistics from January through September 2024 are 3.9 percent ahead of this same time period from 2023, which was Maine’s lowest point since 2013,” says Paul McKee, president of the realtors’ group and a broker affiliated with Keller Williams Realty in Portland. “The 4,971 available homes for sale in September reached the highest inventory number since October 2020 – 47 months. However, it is still below the level needed to fully balance the market.”
McKee added that was expecting “a steady finish for 2024. For-sale inventory levels have improved, overall pricing appreciation has slowed, and buyers remain active in the marketplace. Consumers are beginning to understand that what we experienced regarding interest rates from 2008 until the present were not historically normal.”
Photo: Jimmy Emerson, DVM / Flickr Creative Commons
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