Maine home sales continue to surge amid low inventory

December 26, 2020 GMT

AUGUSTA, Maine (AP) — Maine home sales increased by more than 30% in November compared to the previous year as home prices continued to climb as well.

The Maine Association of Realtors said 1,965 single-family existing homes changed hands last month. Values also increased 20% to a median sales price of $270,000, the association said.

The realtors association said low for-sale inventory played a role in driving real estate sales and prices. The association said 2020 sales are running almost 8% ahead of figures for last year, which was the strongest year for home sales in the history of the state.


Every county in the state experienced an increase in home sales this fall. Sales of existing homes also increased at the national level in November, though by a slightly lower percentage.