Maine Home Sales and Prices Up 17% in March

PORTLAND, ME (May 2021) – Legacy Properties Sotheby’s International Realty, Maine’s leading luxury property company, with offices in Portland, Kennebunk, Brunswick, Damariscotta, Camden, and Northeast Harbor reports strong home buyer demand continued across Maine last month, with Realtors reporting 1,313 single-family existing home sales—a sales jump of 16.81 percent over March 2020. According to statistics released today by Maine Listings, the statewide median sales price (MSP) reached $268,500, an increase of 17.79 percent compared to March 2020. The MSP indicates that half of the homes were sold for more and half sold for less.

“Maine residential real estate sales volume and median sold values showed continued strength during March 2021,” says Aaron Bolster, Broker/Owner of Allied Realty in Skowhegan and President of the Maine Association of REALTORS®. “The pace in the residential real estate market continues to be rapid. For March 2021, the statewide days on market statistic was 11 days, compared to 48 days for March 2020.”

The National Association of Realtors reported a 10.4 percent nationwide increase compared to the March 2020 statistics. Prices also rose 18.4 percent to reach a national MSP of $334,500. Regionally, sales in the Northeast jumped 16.9 percent and the regional MSP increased 21.4 percent to $364,800 comparing March 2021 to March 2020.

“In this fast-moving market, homes become available for sale and are immediately met with pent-up buyer demand,” added Bolster. “Whether you’re a seller or a buyer, start working with a REALTOR® when you first think about transacting real estate so that you’re fully prepared and ready to take action.”

Below are two charts showing statistics for Maine and its 16 counties. The first chart lists statistics for the month of March 2020 and 2021 only, statewide. The second chart compares the number of existing, single-family homes sold (units) and volume (MSP) during the rolling three months of January, February and March (2020/2021).