Cumberland County home prices surged in April, but not in the usual areas
File Photo / Laurie Schreiber
Cumberland County home prices surged in some unexpected markets.
The median price for single-family homes in Cumberland County are again on the rise, after a dip earlier this year.
The county, which includes the greater Portland area, saw its median home price increase by 7.16% in April, from $527,250 to $565,000, signaling strong buyer demand despite recent interest rate pressures, according to the Greater Portland Board of Realtors.
There has been more inventory than a year ago. In April, there were 224 houses on the market, compared to 183 in April 2024.
Communities like Freeport, Brunswick and Harpswell saw sharp increases in sales, with Freeport and Brunswick also posting significant price gains.
Year-over-year, the number of transactions in Freeport increased from three to eight. Brunswick deals were up from five to 12 and Harpswell was up from two to eight.
Freeport’s median prices went from $760,000 to $927,500 and Brunswick went from $405,000 to $560,000.
Towns such as Cumberland and Yarmouth experienced fewer transactions.
Luxury markets showed mixed results. Some traditionally high-priced towns like Cape Elizabeth and Falmouth saw flat or declining price trends. The median price in Cape Elizabeth in April was $1.05 million, compared with $1.051 million a year ago. Falmouth declined from $852,500 to $813,450.
But other towns, such as Harrison and Casco, recorded substantial price increases, reflecting renewed interest in outlying areas, the board said. Harrison went from $299,000 to $704,988 and Casco rose from $288,500 to $465,000.
“Home sellers are continuing to see increases in value, though with slightly more competition, sellers are doing more and more to make their homes stand out and attract the best buyer,” said Aaron Chadbourne, the board’s president.
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