MAINE
Home Sales Up, Average Price Up
Home sales are up 4.7% year-over-year, with May 2025 at 1,535 compared to 1,466 last May. Sales are up for single-family and condos, but down for multi-family.
- Single families: 1,188 (2024) | 1,236 (2025)
- Condominiums: 184 (2024) | 219 (2025)
- Multi-families: 94 (2024) | 80 (2025)
Average sale price increased 4.7% year-over-year, now at $521,488 compared to $497,822 in May 2024. Prices increased across all categories.
- Single families: $500,284 (2024) | $528,469 (2025)
- Condominiums: $494,328 (2024) | $495,262 (2025)
- Multi-families: $473,558 (2024) | $484,656 (2025)
Homes Listed For Sale:
The number of homes listed is up by 7.4% when compared to May 2024.
- 2025: 2,903
- 2024: 2,703
- 2023: 2,286
Pending Home Sales:
The number of homes placed under contract is down by 17.5% when compared to May 2024.
- 2025: 1,358
- 2024: 1,647
- 2023: 1,650
Data provided by FlexMLS then compared to the prior year.
What’s Happening in the Market?
- In May 2025, national home sales decreased by 0.7% compared to a year ago. Despite this trend, Maine saw a slight increase in homes sold.
- According to Mortgage News Daily, May mortgage rates ended around 6.9%. So far in June, rates have been remaining steady between 6.8% – 6.9%
- According to ZeroHedge, U.S. housing inventory reached 4.6 months in May, meaning if no additional homes were listed, it would take 4.6 months for what’s on the market to sell. This is the highest level in over 7 years. Maine seems to be following the trend, with an increase in homes listed signaling a shift toward a more balanced market.
- According to CNN Business, the market is shifting, buyers—fewer bidding wars and a possible price dip mean you might have more negotiating power than before.