MAINE
Home Sales Down, Average Price Up
Home sales are down 7.1% year-over-year, with March 2025 at 1,026 compared to 1,104 last March. Sales are down across all categories.
- Single families: 903 (2024) | 849 (2025)
- Condominiums: 131 (2024) | 112 (2025)
- Multi-families: 70 (2024) | 65 (2025)
Average sale price decreased 3.9% year-over-year, now at $461,168 compared to $479,843 in March 2024. Prices decreased for single-family homes and increased for condos and multi-family homes.
- Single families: $482,375 (2024) | $449,180 (2025)
- Condominiums: $493,580 (2024) | $530,562 (2025)
- Multi-families: $421,468 (2024) | $498,171 (2025)
Homes Listed For Sale:
The number of homes listed is up by 17% when compared to March 2024.
- 2025: 1,697
- 2024: 1,451
- 2023: 1,442
Pending Home Sales:
The number of homes placed under contract is down by 13.6% when compared to March 2024.
- 2025: 1,044
- 2024: 1,209
- 2023: 1,258
Data provided by FlexMLS then compared to the prior year.
What’s Happening in the Market?
- In March 2025, national home sales decreased 2.4% compared to a year ago, Following this trend, Maine saw a decrease in homes sold.
- According to Mortgage News Daily, March mortgage rates ended around 6.7%. In April, there was some fluctuation, dipping down to 6.6% early in the month and now ending around the 6.9% range.
- Spring is here, and so is a boost in inventory—more homes are hitting the market compared to last year. If you’ve been thinking about selling, now might be the perfect time.
- New listings are up compared to last year, boosting overall inventory and giving buyers more options. With home buyer grants available to help with upfront costs, entering the market may be more doable than you think.