Southern Maine single family home sales, prices soar in May
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Home sales in Maine dropped in October, but prices crept higher.
Single family home sales in York and Cumberland counties are at their highest level this year, and prices are rising with them, Maine Home Connection reported Friday.
Single family homes sales in York County are 1.6% ahead of last year, with 1,048 sold as opposed to 1,032; while sales in Cumberland County trail 2018 by 3.3%, with 1,275 sold as opposed to 1,318 last year.
Those figures are up from April, when 740 homes had been sold so far this year in York County, down 3.1% from 2018's 764. Cumberland County also lagged behind 2018 last month, selling 905 homes so far this year, 5.3% less than 2018's 953.
The median price this year to date for Cumberland County is $310,500, up 2.3% from last years's $303,500. The median price for York County is $284,900. up 2.7% from last year's $277,282.
Statewide, the median price for the year to date to $215,000, which is 4.4% ahead of last year's $206,000, and the May median of $230,000 is the highest ever recorded in the state, according to Maine Home Connection
Year-to-date sales statewide are for the year are 0.1% ahead of 2018, after trailing 2019 for much of the year. While the Maine Association of Realtors state statistics haven't yet been released for May, the trend in April of more sales and higher prices seems to be continuing.
The hottest southern Maine markets are on the Midcoast, where sales in Harpswell are up 23% from last year, with 37 units sold this year as opposed to 30 last year; and 20% in Brunswick, with 84 units sold, as opposed to 70 last year.
In Portland, sales are up 11.6%, with 192 units sold through May this year as opposed to 172 last year. The median price of a home in Portland is $327,500, up from $305,000 last year, a 7.4% increase.
"While some towns are still reporting lower unit sales in 2019, the gap between last year and this year has been reduced, despite no appreciable increase in inventory levels," Maine Connection said in its report.
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