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Falmouth Maine Market Report

Home Sales Statistics & Results -  2018 vs 2017 Update

Real estate sales in Falmouth are predominantly single-family homes, as they represented more than 75% of the total sales mix in 2017.  Additionally, sales vary considerably depending upon whether homes are located along the ocean (Falmouth Foreside), in one of the three country club communities or on the west side of the interstate.

Historically, Falmouth has also had some of the highest overall median sales prices for single family homes each year, and 2017 was no exception. The median selling price increased 2.62% with the year-end level of $470,000. The 2017 result was the second highest ever recorded in Falmouth.

The charts below include up-to-date 2018 monthly sales and a review of the complete years 2017 and 2016 for all types of properties.   

 

2018 Sales: YTD Results Through October

 
Prop
Type

Median Prices YTD
2018      |       2017 
 Unit Sales YTD
2018  |  2017 

% of
List Price

DOM
         
 Homes $547,000$489,950 164
166
 100.92%
 23
 Condos $484,375$445,000 34
32 105.8%
 88
           
All housing data has been compiled from research by Maine Home Connection using information from the Maine Real Estate Information System (MREIS). 
 

 

2017 Falmouth Real Estate Sales & Prices

 
Prop
Type

# of
Units

Sold Price
Median     |     Average

Days on Mkt
Med  |  Avg
 % of
List
 $/Sq Foot
           
 Homes 195 $480,000$571,848 1945 98.5 $205
 Condos 37 $472,303$451,415 1781 100.0 $234
 Multi 1 $274,000$274,000 138138 99.6 $206
 Land 19 $285,000$221,632 159169 96.1 NA

The number of homes sold annually has stabilized over the last several years at around 200.  In 2017 there were 81 sales of homes priced between $500,000 and $1,000,000, compared to 73 in 2016.  The median price of these properties was down 2.65%.  In the true luxury segment, homes sold above $1,000,000 there was a decrease from 16 in 2016 to 11 in 2017.  However, the median price in this segment increased 60.92%. The most expensive sale was $4,800,000.

 

2016 Falmouth Real Estate Sales & Prices

 
Prop
Type

# of
Units

Sold Price
Median     |     Average

Days on Mkt
Med  |  Avg
 % of
List
 $/Sq Foot
           
 Homes 202 $467,750$651,480 2454 96.6 $202
 Condos 28 $505,746$463,183 45130 100.0
 $213
 Multi 3 $450,000$511,667 1142 87.9 $174
 Land 21 $130,000$169,507 2576
 90.5 NA

Statewide Results:

Maine home sales set a new sales record in 2017 as 17,796 single family homes were sold, yet this was only an increase of .88% from 2016. Sales volume has increased since 2011. While last year it was sales in both Cumberland and York counties that established new records, up 2.5% and 11.2% respectively, this year Franklin had the largest percentage increase with 16.84% more home sales. 

 

However, it was Kennebec county that had the largest unit increase of home sales, growing from 1,457 in 2016 to 1,545 in 2017, an increase of 88 sales. Overall, sales were up in 10 of Maine’s 16 counties. 

The median single-family price of $200,000 represented a 5.32% increase over 2016 and was at its highest year-end level since 2007, when $194,000 was achieved. The highest single month was August at $206,745. Between 2007 and 2011 median prices declined each year, reaching their lowest level in 2011 at $165,000.  From 2012 onward, pricing has increased each year, with the exception of 2014.

 
Falmouth Sales History
YearUnitsPrice
2017
195
$480,000
2016202$467,750
2015203$400,000
2014192$401,991
2013177$215,500
2012144$372,000
2011136$413,625
2010148$417,000
2009155$360,000
2008121$430,000
2007168$418,750
2006164$450,500
2005163$405,000
   

Falmouth Home Sales

Falmouth Units-2017

Falmouth Prices-2017


2017 Report
Download Market Repot

2016 Market Report



 

 



 
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