Home buyer demand persists in the Maine real estate market, with Realtors reporting 1,313 single-family home sales for the month of March alone—a jump of 16.81 percent over March 2020. Statistics shared by Maine Listings infer the statewide median sales price (MSP) reached $268,500, an increase of 17.79 percent comparing March 2021 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 continue to increase while the race for residential real estate remains! Transactions are being conducted rapidly with no sign of slowing down. For March 2021, the statewide days on market was just 11 days, compared to 48 days for March of last year.
The National Association of Realtors reported a 10.4 percent nationwide increase compared to the March 2020 data. Prices also increased 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.