More buyers emerge as home market softens in Maine

A vinyl-sided house has flower beds out front.

Photo / Courtesy RE/MAX Shoreline The single-family home at 21 Drake St. in Portland illustrates market trends. It closed Sept. 16 after seven days on the market, selling for $430,000 — $5,000 over asking price. The home received a strong market response, consistent with quarterly statistics. Nick Guerrette and Cassie Symonds with RE/MAX Shoreline brokered the deal.

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By Laurie Schreiber

More buyers are emerging from the woodwork as prices moderate in the southern Maine residential real estate market, according to a third-quarter report by RE/MAX Shoreline.

With mortgage rates easing, prices moderating and more inventory coming online, sales and new listings rose year-over-year across much of Maine, according to the report.

In Portland, single-family and multi-family sales have been steady, although the condominium market is slower.

“We’re finally seeing the kind of balance that many have been waiting for,” said Derrick Buckspan, a broker and owner of RE/MAX Shoreline, which has offices in Portland, Falmouth and Portsmouth, N.H.

He added, “This is a pivotal turning point after several years of highly constrained supply.”

The following is a comparison of Q3 2025 with Q3 2024.

Cumberland County

Single-family homes

Median sales price: $$605,000, up 4.5% compared to $579,000 a year ago
Median days on market: nine, compared to eight a year ago
New listings: 1,277, up from 1,153
Number of sales: 1,023, up from 925
Percentage of list price received: 100.6%, down from 101.5%

Condos

Median sales price: $525,000, compared to $528,953 a year ago
Median days on market: 15, up from 8
New listings: 336, up from 307
Number of sales: 231, down from 260
Percentage of list price received: 100%, down from 101.4%

Multifamily

Median sales price: $692,250, down from $719,000
Median days on market: 12, no difference
New listings: 125, up from 84
Number of sales: 56, up from 49
Percentage of list price received: 99.6%, down from 101.7%

“Cumberland County continues to outperform most other regions in Maine,” Buckspan said. “We’re seeing strong sales growth despite a small rise in time on market, which tells us the demand foundation here remains solid. The slight dip in pricing for condos and multi-family properties reflects normalization, not weakness.”

York County

Single-family homes

Median sales price: $$550,000, up from $527,250
Median days on market: 15, up from 9
New listings: 996, up from 980
Number of sales: 796, up from 722
Percentage of list price received: 99.0%, down 1.3% compared to 100.3%

Condos

Median sales price: $420,000, up from $415,000
Median days on market: 18, up from 12
New listings: 286, up from 276
Number of sales: 215, up from 181
Percentage of list price received: 99.2%, down 0.3% compared to 99.5%

Multifamily

Median sales price: $545,000, up from $515,000
Median days on market: 12, up from 8
New listings: 74, up from 67
Number of sales: 37, down from 43
Percentage of list price received: 96.2%, down 2.5% compared to 98.7%

“York County’s growth in both single-family and condo transactions shows that buyers are adjusting to market realities,” said Buckspan.

Portland

Single-family homes

Median sales price: $625,000, up from $614,750
Median days on market: 10, up from 7
New listings: 135, down from 160
Number of sales: 125, up from 122
Percentage of list price received: 99.6%, down 2.3% compared to 102%

Condos

Median sales price: $577,500, down from $609,000
Median days on market: 15, up from 9
New listings: 135, up from 123
Number of sales: 76, down from 116
Percentage of list price received: 99.1%, down 1.9% compared to 101%

Multifamily

Median sales price: $840,000, up from $792,500
Median days on market: 18, up from 11
New listings: 59, up from 41
Number of sales: 29, down from 30
Percentage of list price received: 100%, up 0.8% compared to 99.2%

“Portland remains incredibly stable, particularly in the single-family and multi-family segments,” said Buckspan. “The condo slowdown is primarily driven by buyer caution at the higher end of the market, but overall activity remains healthy.”

Statewide

Single-family

Median sales price: $410,000, up from $400,000
Median days on market: 15, up from 11
New listings: 6,905, up from 6,099
Number of sales: 4,873, up from 4,557
Percentage of list price received: 98.4%, down 0.8% compared to 99.2%

Favorable mortgages

The mortgage market is becoming increasingly favorable for buyers, according to Jim Collins of CMG Home Loans, a California mortgage bank.

“Rates have finally started to ease after a long stretch of volatility,” Collins said. “We’ve already seen the first drop this fall, and two additional rate cuts are anticipated before the end of the year.”

Buckspan agreed.

“Lower borrowing costs paired with a growing inventory is the recipe for renewed market movement,” he said.

Buckspan said he expects the market to continue its momentum in Q4.

“We’re seeing healthier competition, more options and more opportunity for everyone involved in the market,” he said.

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