A total of 1,482 home sales were recorded in Maine during July, up by 10.93% from one year earlier, according to data from the Maine Association of Realtors.
The $399,250 median sales price in July was a 5.07% uptick from the $380,000 in July 2023.
Paul McKee, the association’s 2024 president and a broker affiliated with Keller Williams Realty in Portland, noted the state has recorded an inventory expansion.
“The 4,705 homes for sale in July was the highest number in 45-months, since October of 2020,” said McKee. “However, unit sales continue to gain as well, keeping Maine’s for-sale inventory at a 3.2-month supply level. A ‘balanced market’ for both buyers and sellers is a 6-month supply level.”
Photo: Jimmy Emerson, DVM / Flickr Creative Commons
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