Cumberland County single-family home sales strengthen in July

Photo / Courtesy Demetria Real Estate, Greater Portland Board of Realtors A single-family home at 126 Sebago Lake Road in Gorham sold in July for $415,000, which is in line with the state median home price but well below the rate for Cumberland County. The deal was brokered by Demetria Real Estate.

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By Laurie Schreiber

Sales activity and prices in July showed “healthy” year-over-year gains in Cumberland County’s single-family home market, according to the Greater Portland Board of Realtors.

June was already a strong month, recording a 12.25% year-over-year increase in sales and a 6.84% rise in median price.

July accelerated those trends. Sales volume rose 14.9% from 314 in July 2024 to 361 last month. Growth was particularly strong in Portland, Gorham and Yarmouth, while towns such as Bridgton and Naples also posted sizable increases. The momentum highlighted steady buyer demand, the board said.

The county’s median price climbed 13.05% compared to last year, from $526,052 to $594,725.

For context, the statewide median sales price was $425,000 in June, the latest month for which Maine Listings has numbers.

Mixed dynamics

There were some mixed local dynamics. Some markets showed contrasting trends, with sales activity rising but prices softening.

Portland, for example, saw more transactions close but at a slightly lower median price. But communities like Falmouth and Cape Elizabeth combined fewer or flat sales with significant price appreciation.

Those dynamics illustrate a market in which location and property type play increasingly important roles, according to the board.

“Cumberland County’s housing market remains strong, with sales and prices both on the rise,” said Yvonne Myer, the board’s president-elect. “Even as conditions vary by town, the overall trend shows buyers are confident and demand is steady.”