MAINE
Home Sales Up, Average Price Up
Home sales are up 0.7% year-over-year, with April 2025 at 1,186 compared to 1,178 last April. Sales are down for single and multi-family homes, but up for condos.
- Single families: 949 (2024) | 945 (2025)
- Condominiums: 147 (2024) | 166 (2025)
- Multi-families: 82 (2024) | 75 (2025)
Average sale price increased 3.8% year-over-year, now at $502,446 compared to $484,243 in April 2024. Prices increased across all categories.
- Single families: $487,246 (2024) | $496,337 (2025)
- Condominiums: $461,619 (2024) | $512,934 (2025)
- Multi-families: $490,049 (2024) | $556,212 (2025)
Homes Listed For Sale:
The number of homes listed is up by 21.9% when compared to April 2024.
- 2025: 2,275
- 2024: 1,866
- 2023: 1,634
Pending Home Sales:
The number of homes placed under contract is down by 15.8% when compared to April 2024.
- 2025: 1,143
- 2024: 1,357
- 2023: 1,349
Data provided by FlexMLS then compared to the prior year.
What’s Happening in the Market?
- In April 2025, national home sales decreased 2.0% compared to a year ago. Despite this trend, Maine saw a slight increase in homes sold.
- According to Mortgage News Daily, April mortgage rates ended around 6.8%. So far in May, rates have been hovering between 6.8% and 7%
- While overall home sales in Maine saw a slight year-over-year increase, Single and Multi-family home sales went down. The Wall Street Journal highlights the challenges contributing to this slower-than-usual spring market.
- Mortgage rates may not be dropping, but homebuyer grants can still help you save by covering part of your homebuying expenses.