The housing market in Maine is beginning to feel the effects of rising interest rates. Sales of single-family existing homes declined 9.83 percent last month, according to Maine Listings. The statewide median sales price (MSP) hit $360,825 in June.
Home values remain high, while for-sale inventory is still a limiting factor for those seeking to purchase single-family existing homes in Maine. According to Maine Listings, the median sales price (MSP) statewide reached $350,000 in May 2022 an.
In May, statewide for-sale inventory remains a limiting factor for buyers of single-family homes. Portland residential sales prices and volumes trended down across all sectors.
From our special feature on the state's housing crisis: For 2021, there were 6,825 building permits issued in Maine, 4 out of 5 of which were for single-family homes.
AUGUSTA Buyer demand for Maine real estate continues to fuel a competitive market, and a lower-than-normal supply of single-family existing homes for sale has driven sales prices higher. According to Maine Listings, February 2022 sales declined 17.