MAINE
Home Sales Down, Average Price Up
Home sales are down 7.2% year-over-year, with February 2025 at 893 compared to 962 last February. Sales are down across all categories.
- Single families: 800 (2024) | 754 (2025)
- Condominiums: 102 (2024) | 89 (2025)
- Multi-families: 60 (2024) | 50 (2025)
Average sale price increased 1.8% year-over-year, now at $465,358 compared to $457,114 in February 2024. Prices increased across all categories.
- Single families: $461,037 (2024) | $463,668 (2025)
- Condominiums: $485,458 (2024) | $521,108 (2025)
- Multi-families: $353,782 (2024) | $383,719 (2025)
Homes Listed For Sale:
The number of homes listed is down by 10.4% when compared to February 2024.
- 2025: 1,109
- 2024: 1,238
- 2023: 911
Pending Home Sales:
The number of homes placed under contract is down by 32.7% when compared to February 2024.
- 2025: 754
- 2024: 1,121
- 2023: 986
Data provided by FlexMLS then compared to the prior year.
What’s Happening in the Market?
- In February 2025, national home sales decreased 1.2% compared to a year ago, Following this trend, Maine saw a decrease of 7.2% in Home sales.
- According to Mortgage News Daily, March mortgage rates started in the high 6% range, around 6.7% to 6.8%, and have held steady throughout the month.
- Year-over-year data shows a decline in both listings and pending sales, possibly due to the harsh winter or the effects of the leap year in 2024. However, it’s clear that many sellers and buyers are waiting for spring. Sellers, here are some key reasons why listing your home this spring is a strategic decision.
- The average sales price for homes is up from last year, but pricing your home competitively remains essential. By doing so, you can spark more buyer activity and potentially receive higher offers. Here’s a guide on how to price your home effectively.
- As spring approaches, the market will soon see a flood of new inventory. To help you navigate the process and make the right decisions, here are 8 essential steps to take before purchasing your first home.