Maine single-family home sales and volume up in May
Photo / Courtesy Greater Portland Board of Realtors
A single-family at 68 McLellan Road in Gorham went under contract in May after listing for $650,000, above the median $612,500. Gorham’s volume was down from 15 homes sold in May 2024 to eight last month.
In a year-over-year comparison of single-family home transactions across Maine, last month saw a 3.28% increase to 1,227 sales, compared with 1,188 in May 2024, according to Maine Listings.
Sales volume in May exceeded April by 30%. And statistics indicate that, at the end of May, Maine had 4,422 homes on the market, an increase of 825 from April’s month-end.
The statewide median sales price was also up, reaching $425,000, a 6.52% increase over $399,000 a year ago.
While $425,000 was a new historic high for the state, individual counties had mixed results. Half of Maine’s 16 counties reported median sold prices below $350,000 and six had a median sold price below $300,000.
Overall, data indicate that sellers and buyers are in the market and housing demand is steady, according to the Maine Association of Realtors.
“We’re seeing more homes coming onto the market for sale and that’s a positive for buyers,” said Jeff Harris, the association’s president and a broker with Harris Real Estate in Farmington.
Cumberland County
Sales of single-family homes in Cumberland County were a mixed bag in May, with gains and losses varying by community.
In a year-over-year comparison of sales volume last month compared with May 2024, Westbrook, North Yarmouth and Cumberland doubled the number of homes sold, from nine to 18, from four to eight and from seven to 14 respectively.
Baldwin had four sales, compared with one the year previously, a 300% jump.
Yarmouth was flat and other towns, such as New Gloucester, Falmouth, Cape Elizabeth and Brunswick saw declines.
“We are continuing to see more inventory coming to market in Greater Portland, which is providing more options for home buyers,” said Aaron Chadbourne, president of the Greater Portland Board of Realtors and a broker at Demetria Real Estate. “The summer market has arrived and we expect it to be a busy one, as homes in Maine continue to be a strong asset class, outperforming other parts of the country.”
All together, Cumberland County saw a 13.17% increase in the number of single-family homes sold, from 243 in May 2024 to 275 last month.
The trend came with a 7.19% dip in the median sale price, from $556,000 a year ato to $516,013 last month. The decline reflected a balancing out of the market, according to the board.
Despite the overall price decrease, several towns — including Pownal, Standish and North Yarmouth — saw notable price increases. Conversely, some high-value communities — such as Cumberland, Yarmouth and Falmouth — experienced price softening.
Results in Portland followed the trend but to a lesser degree, with volume up 9.76% from 41 to 45 and the median price down 6.77% from $620,000 to $578,000.
Bigger picture
Regionally, sales in the Northeast jumped 4.2% , while the regional median price increased 7.1% to $513,300 from May 2024.
The National Association of Realtors reported a 0.3% rise in single-family existing home sales nationwide comparing May 2025 to May 2024, and a national price increase of 1.3% to $427,800.
“Over time, if the inventory of homes on the market grows, we’ll see a moderation of home pricing,” Harris predicted
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