Market Update

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Highly motivated buyers of single-family existing homes continue to pursue Maine real estate.  Maine Listings show a 35.68% sales leap in April 2021 compared to April 2020.  The statewide median sales price (MSP) reached $276,000—an increase of 17.05% comparing April 2021 to April 2020.

Maine’s residential real estate market continues to be fast-paced.  The April 2021 statistics reflect a comparison to one year ago, when the state of Maine was in COVID shutdown status.  Last month’s sales volume was strong—13% above the pre-pandemic April 2019 figures. 

As homes come onto the market, buyers are waiting and ready.  Statewide, the days-on-market for April 2021 was only 8 days, compared to 25 days one year ago, and 46 days in 2019. 

We expect that improving COVID metrics and back-to-the-office vs. telework decisions may help stabilize the market urgency and upward pricing pressures that we’re experiencing. A REALTOR® is your best resource to navigate these market conditions, whether you’re selling or buying.

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