FOR IMMEDIATE RELEASE
CONTACTS: LISTED BELOW
MAINE HOME VALUES INCREASE AND
SALES DECREASE IN SEPTEMBER
AUGUSTA (Oct 19, 2023)—The availability of single-family existing homes in Maine
remains tighter-than-normal, according to Maine Listings. Realtors around the state
reported a sales total of 1,410 homes in September, down 25.4 percent compared to
September 2022. The statewide median sales price (MSP) increased 14.17 percent to
$376,750. The MSP indicates that half of the homes were sold for more and half sold for
less.
“While the number of Maine for-sale inventory in September 2023 increased two
percent from August 2023 and was up slightly from a year ago, we are 57 percent below
pre-pandemic September 2019,” says Carmen McPhail, 2023 President of the Maine
Association of REALTORS® and Associate Broker at family-owned United Country
Lifestyle Properties of Maine with offices in Lincoln, Bangor and Lubec. “In September
2023, Maine had 3,855 homes for sale statewide—that’s compared to 9,026 in
September 2019.
“Our advocacy efforts at the Maine State House and local Town Halls are focused on the
production of additional housing units. Whether through new construction or adaptive
reuse, we are focused on creating a more balanced market in regard to supply and
demand,” added McPhail.
The National Association of Realtors reported that sales across the country eased 15.8
percent in the past year, while prices increased 2.5 percent to a national MSP of
$399,200. Regionally sales in the Northeast eased 16.7 percent and the regional MSP
rose 5.2 percent to $439,900.
“While we wait to feel the impacts of supply-side solutions, the number of buyers
continues to outpace the number of sellers. In order to be successful, buyers should
consult early on with a REALTOR® who is knowledgeable in the local real estate market
area for the best strategy, be patient and persistent, and be positioned to act quickly
when opportunities arise,” says McPhail.
Below are two charts showing statistics for Maine and its 16 counties. The first chart lists
statistics for the month of September 2022 and 2023 only, statewide. The second chart
compares the number of existing, single-family homes sold (units) and volume (MSP)
during the rolling three months of July, August and September of 2022 and 2023.
(Continued)
Maine Real Estate Statistics – September 2023 Housing Report 10/19/23—Page 2 of 2
SEPTEMBER ONLY CHART
September 1-30, 2022— September 1-30, 2023
Number of Units Sold
Median Sales Price
County
2022
2023
%Change
2022
2023
%Change
Statewide
1890
1410
-25.40%
$ 330,000
$ 376,750
14.17%
ROLLING QUARTER CHART
July 1, 2022—September 30, 2022 and
July 1, 2023—September 30, 2023
Number of Units Sold
Median Sales Price
County
2022
2023
%Change
2022
2023
%Change
Statewide
5440
4257
-21.75%
$ 340,000
$ 375,000
10.29%
Androscoggin
353
272
-22.95%
$ 285,000
$ 320,000
12.28%
Aroostook
259
208
-19.69%
$ 145,000
$ 159,450
9.97%
Cumberland
1118
860
-23.08%
$ 500,000
$ 550,000
10.00%
Franklin
169
117
-30.77%
$ 241,000
$ 255,000
5.81%
Hancock
238
197
-17.23%
$ 369,250
$ 425,000
15.10%
Kennebec
506
403
-20.36%
$ 288,000
$ 307,000
6.60%
Knox
161
150
-6.83%
$ 407,500
$ 452,500
11.04%
Lincoln
167
141
-15.57%
$ 407,500
$ 450,000
10.43%
Oxford
278
224
-19.42%
$ 275,000
$ 315,000
14.55%
Penobscot
586
451
-23.04%
$ 236,800
$ 262,500
10.85%
Piscataquis
106
106
0.00%
$ 202,950
$ 207,500
2.24%
Sagadahoc
139
129
-7.19%
$ 360,000
$ 400,000
11.11%
Somerset
213
148
-30.52%
$ 200,000
$ 209,500
4.75%
Waldo
163
120
-26.38%
$ 300,000
$ 349,500
16.50%
Washington
154
117
-24.03%
$ 220,000
$ 220,000
0.00%
York
830
614
-26.02%
$ 460,000
$ 485,000
5.43%
Source: Maine Real Estate Information System, Inc. (d/b/a Maine Listings). Note: Maine Listings, a subsidiary of the
Maine Association of REALTORS®, is a statewide Multiple Listing Service with over 6,200 licensees inputting active
and sold property listing data. Statistics reflect properties reported as sold in the system within the time periods
indicated. Contacts: Maine Association of REALTORS® President Carmen McPhail (United Country Lifestyle
REALTORS® President Elect Paul McKee (Keller Williams Realty, Portland) – 207-831-3929 [email protected] For
additional contacts: [email protected]
# # #
