Single-family homes sales in Maine continued a recent trend in April as YTD sales volume was again lower than the record setting pace of 2016. Median selling prices, however, continue their push upward. The first graph below highlights sales for Maine, Cumber and York Counties and selected local communities.
Single Family Sales
While sales across Maine were down 3.1%, many communities in the greater Portland area are significantly behind 2016. Portland sales are down 31%, followed by several other towns in double-digits. Falmouth, Cape Elizabeth and Scarborough are all ahead of last year.
Pricing is universally strong as price appreciation in Cumberland York Counties exceeds that of Maine. Nearly every town in the greater Portland area is ahead of 2016 through the first four months of 2017.
The graph below compares active inventory at month end versus homes under-contract (pending) for Cumberland County. Inventory is drastically lower (and much lower than the pre-bubble level). For comparison, the inventory in April 2010 was 2,337!