Maine capped off another strong year for home sales with a 15 percent increase in December.
Buyers closed deals on 1,178 homes in December, a 15.04 percent increase compared with the 1,024 sold in December 2023, according to the Maine Association of Realtors.
Meanwhile, the median sales price for a Maine home rose by 14.12 percent to $400,000, compared with $350,000 in December 2023.
That caps off a year when Maine saw overall home sales rise 5 percent to 14,287 over 2023’s 13,621. The median sales price was up 8.4 percent to $390,200 for the year.
“In each month of 2024, we saw higher numbers of homes on the market compared to the prior year. More homes for sale results in more homes sold,” Jeff Harris, the president of the Maine Association of Realtors and broker affiliated with Harris Real Estate in Farmington, said in a Friday statement.
The growth in December home sales in the Pine Tree State outpaced the nation, with sales up 10.1 percent year over year, while the median sales price has risen nationally 6.1 percent to $409,300, according to the National Association of Realtors.
In the Northeast, sales rose 10.4 percent, compared with a year earlier, while the median sales price rose 11.8 percent to $478,900.
“As we look forward to the new year, buyers remain active statewide and demand for good quality, properly priced homes in Maine is solid,” Harris said.
On the county level in Maine, the most significant increase in median home prices for 2024 was in Franklin County, where it rose 20 percent to $300,000, compared with the year before. Piscataquis and Sagadahoc counties saw notable increases in sale prices, 19.05 percent and 12 percent, respectively The highest median home price last year was in Cumberland County, where it reached $570,000.
Last year, the median home price fell only in Oxford County, where it was down 0.94 percent. Aroostook had the lowest median home price overall ($161,000), up 7.33 percent from 2023.
On the sales front, Hancock County saw the largest sales bump over the past 12 months, increasing 14.54 percent. It was followed by York (12 percent), Franklin (11.67) and Androscoggin (11.17 percent) counties. Sales fell most sharply for the year in Piscataquis County, where they are down 13 percent, followed by Washington (6.40 percent) and Aroostook (3.72 percent) counties.
