Latest market data from Maine Listings revealed home sales and prices were both up last month compared to a year ago.
The number of single-family homes sold in June was 10.51% higher than in June 2024.
The median sales price (MSP) also increased by 4.94% to $425,000. The MSP indicates half of homes sold for more and half for less.
Industry watchers point to high buyer demand and increasing inventory levels as the main drivers in the market.
The number of homes for sale in June topped 5,000 for the first time since October 2020. The for-sale inventory represented a 14% hike over May with sales figures also up, by 17% month over month.
Regionally, sales in the northeast fell back by 4.2% in June compared to June of 2024, according to the National Association of Realtors (NAR). The regional MSP did go up, however, by 4.2% to stand at $543,000.
Nationwide, sales of existing single-family homes rose by 0.6% year on year with the national MSP up 2.0% to $441,500.
Realtors have reported that the upward trend in more homes becoming available for sale has resulted in buyers and sellers taking more time to negotiate pricing and terms.
