Cumberland County home prices rebound in June

Photo / Courtesy Greater Portland Board of Realtors A home at 3 Ridgefield Drive in Gorham sold in June for $477,500, part of a trend in year-over-year median price increase for the month. Keller Williams Realty and Demetria Real Estate brokered the transaction.

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By Laurie Schreiber

The median price in May for single-family homes in Cumberland County dropped 7.19%.

That trajectory took an upturn the following month, with June seeing a 6.84% year-over-year price increase, according to the Greater Portland Board of Realtors.

Regardless of pricing, sales volume remained strong for both months, up 13.17% in May and 12.25% in June.

“We are seeing one of the busiest summers for home sales in Maine, with more options for home buyers and strong evidence that real estate has been a great investment for homeowners,” said Aaron Chadbourne, the board’s president.

The data show the market is gaining momentum this summer, with steady sales volume and renewed upward pressure on prices, the board said.

“We are seeing a healthy real estate market with deals to be had throughout Greater Portland,” said Chadbourne.

Small-town action

June’s 12.25% volume marked the third consecutive month of growth. Towns like Scarborough, Raymond and North Yarmouth led the way with significant jumps in closed transactions, while new activity emerged in smaller communities like Long Island and New Gloucester.

June’s price climb of 6.84% reflects buyer willingness to remain active despite interest rate concerns, the board said.

Freeport, Chebeague Island and Harrison posted especially strong gains, while a few areas such as Falmouth and Yarmouth saw more modest or declining price trends.

Ups and downs

The ups and downs by town were spread across the county.

While sales remained healthy overall, some towns experienced notable cooling. Westbrook, Naples and Harrison saw sales volume fall, even as prices in some of those areas rose.

Conversely, markets like Scarborough and Cape Elizabeth remained active, signaling sustained demand in coastal and commuter-friendly communities.

Looking ahead, the board said that, while national factors like interest rates might influence buyer behavior, the Cumberland County market continues to show resilience and regional strength.