Home prices, sales and the number of properties up for sale were all up year-on-year according to the latest market report from Maine Listings.

Comparing February of this year to 12 months prior, values increased by 9% with the median sales price (MSP) reaching $381,500. The MSP indicates half of homes sold for more and half for less.

The number of homes sold was also on the rise with the 753 properties closed on last month representing a 6.51% hike on February of last year and also the 9th best month since 2020.

For buyers, there is also encouragement. Coupled with a downward trend in interest rates, there is also more homes on the market. The number of properties up for sale last month was up 14% when compared to the same time last year.

With seemingly opportunity for both sellers and buyers the tone of industry watchers has been positive over the latest set of data.

The National Association of Realtors (NAR) reported a 0.3% decrease in sales countrywide in February compared to February 2024. Home prices meanwhile increased by 3.7% to a national MSP of $402,500.

Looking at the same period, regional sales in the Northeast were up 4.2%, while the regional MSP of $464,300 indicates an increase of 10.4%.

County by County Guide and Full Maine Listings Press Release