Maine's Housing Market Set Records in 2018
Maine broke records for the number of homes sold and the median price in 2018. For the fourth consecutive year, Maine home sales set a new record in 2018 as 17,983 single family homes were sold, representing an increase of 1.0% over 2017 when total volume was 17,810. The year-to-date median single-family price of $215,000 represented a 7.5% increase over 2017. Overall, pricing was up in 13 of Maine’s 16 counties, and remained consistent in two. The highest single month was May at $244,839, followed by April and then March. Each month of 2018 was higher than 2017. Between 2007 and 2011 median prices declined each year, reaching their lowest level in 2011 at $165,000. From 2012 onward, pricing has increased ever year, with one exception - 2014. Maine's growth in home sales' volume and price for the year outpaced that of the nation. Average median prices ranged from $307,000 in Cumberland County to $90,000 in Aroostook County.
