Property sales up 2.41% in 2021; Prices up 16.8%


Existing single-family homes in Maine remained in high demand through the full 2021 selling year. According to Maine Listings, the statewide median selling price (MSP) reached $299,000 per last year, an increase of 16.8%. The MSP indicates that half of the homes were sold more expensive and the other half cheaper. Sales also increased by 2.41%.

“Overall, 2021 has been a banner year for residential real estate in Maine,” says Madeleine Hill, 2022 President of the Maine Association of REALTORS® and Designated Broker at Roxanne York Real Estate on Bailey Island. “The selling year ended with all-time highs for the number of reported transactions (20,401) and median selling price ($299,000) since we began compiling data over 21 years ago. years.”

Statistics collected by Maine Listings for the month of December 2021 indicate a 12.22% increase in MSP to $303,000 compared to December 2020. Sales decreased by 12.65% comparing December 2021 to December 2020.

“2021 has started with a positive momentum following the shutdown of COVID 2020. Since July, selling demand has been strong but limited due to tight availability of inventory to sell,” says Hill. “Due to the imbalance between the supply and demand, most markets saw a decrease in the number of units sold but a double-digit appreciation in median selling prices.”

The National Association of Realtors reported a 6.8% drop in existing single-family home sales in December. Prices, however, have risen 16.1% over the past year to a national MSP of $364,300. Regionally, December sales in the Northeast were down 15.7% and regional MSP reached $384,600, up 6.3%.

“Over the next year, we expect demand for residential real estate to remain high as buyers seek the quality of life and security offered by our beautiful state,” Hill added.

Below are two graphs showing statistics for Maine and its 16 counties. The first graph lists statistics for the month of December 2020 and 2021 only, statewide. The second chart compares the number of existing single-family homes sold (units) and volume (MSP) over the full 12 months of 2020 and 2021.

December chart only

Dec 1-31 2020—Dec. 1-31, 2021

Number of units sold

Median selling price

2020

2021

%Change

2020

2021

%Change

Statewide

1969

1720

-12.65%

$270,000

$303,000

12.22%

Full Calendar Year Table

Jan. 1, 2020—Dec. Dec 31 2020 and Jan. 1, 2021—Dec. 31, 2021

Number of units sold

Median selling price

2020

2021

%Change

2020

2021

%Change

Statewide

19921

20401

2.41%

$256,000

$299,000

16.80%

Androscoggin

1223

1294

5.81%

$205,000

$240,000

17.07%

Aroostook

838

998

19.09%

$105,000

$120,000

14.29%

cumberland

4130

3995

-3.27%

$365,000

$434,900

19.15%

franklin

562

604

7.47%

$189,950

$225,000

18.45%

Hancock

1048

1064

1.53%

$273,316

$320,000

17.08%

Kennebec

1745

1826

4.64%

$198,000

$248,000

25.25%

Knox

694

742

6.92%

$268,250

$344,000

28.24%

lincoln

686

654

-4.66%

$301,500

$351,000

16.42%

Oxford

995

1015

2.01%

$199,900

$251,000

25.56%

Penobscot

1905

2060

8.14%

$170,000

$200,000

17.65%

Piscataquis

453

421

-7.06%

$129,900

$165,000

27.02%

sagadahoc

501

482

-3.79%

$275,000

$340,000

23.64%

Somerset

734

781

6.40%

$143,750

$172,500

20.00%

Waldo

615

659

7.15%

$224,000

$270,000

20.54%

Washington

551

634

15.06%

$149,900

$163,500

9.07%

york

3241

3172

-2.13%

$337,000

$398,750

18.32%

Source: Maine Real Estate Information System, Inc. (d/b/a Maine Listings). Note: Maine Listings, a subsidiary of the Maine Association of REALTORS, is a statewide multi-listing service with over 6,200 licensees entering data on active and sold property listings. The statistics reflect the properties reported as sold in the system during the periods indicated. Contacts: Maine Association of REALTORS® President Madeleine Hill (Roxanne York Real Estate, Bailey Island) – 207-807-6578 [email protected] Maine Association of REALTORS® President-Elect Carmen McPhail (United Country Lifestyle Properties of Maine, Lincoln ) – 207-290-0371 [email protected] For additional contacts: [email protected]

Previous Sales of luxury real estate in Canada double, triple in some markets
Next What's up with... UK telecom pricing, EU Digital Services Act, Telenor in Myanmar, changing access