Falmouth Maine Market Report
Home Sales Statistics & Results - 2019 vs 2018 Update
Real estate sales in Falmouth are predominantly single-family homes, as they represented more than 86% of the total residential sales mix in 2019. 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 2019 was no exception. The median selling price increased 2.8% with the year-end level of $550,000. The 2019 result was the highest ever recorded in Falmouth.
The charts below include up-to-date 2020 monthly sales and a review of the complete years 2018 and 2017 for all types of properties.
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2020 Sales: YTD Results Through October
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| |
Prop
Type |
|
Median Prices YTD
2020 | 2019
|
|
Unit Sales YTD
2020 | 2019
|
|
% of
List Price |
|
DOM |
| Homes |
|
$600,000 |
$542,500 |
|
186 |
141 |
|
100% |
|
9 |
| Condos |
|
$404,500 |
$404,000 |
|
34 |
24 |
|
101.13% |
|
6 |
| |
|
|
|
|
|
|
|
|
|
|
| All housing data has been compiled from research by Maine Home Connection using information from the Maine Real Estate Information System (MREIS). |
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2019 Falmouth Real Estate Sales & Prices
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| |
Prop
Type |
|
# of
Units |
|
Sold Price
Median | Average |
|
Days on Mkt
Med | Avg |
|
% of
List |
|
$/Sq Foot |
| |
|
|
|
|
|
|
|
|
|
|
| Homes |
|
169 |
|
$550,000 |
$679,132 |
|
17 |
40 |
|
97.6 |
|
$199 |
| Condos |
|
26 |
|
$391,000 |
$430,452 |
|
7 |
31 |
|
100 |
|
$243 |
| Multi |
|
4 |
|
$502,000 |
$668,750 |
|
34 |
32 |
|
96.1 |
|
$163 |
| Land |
|
15 |
|
$200,000 |
$209,733 |
|
40 |
102 |
|
92.7 |
|
NA |
|
The number of homes sold annually has stabilized over the last several years at around 200. In 2018 there were 103 sales of homes priced between $500,000 and $1,000,000, compared to 81 in 2017. The median price of these properties was also up 5.54%. In the true luxury segment, homes sold above $1,000,000 there was a decrease from 11 in 2017 to 9 in 2018. The median price in this segment also decreased, by 25.64%.
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2018 Falmouth Real Estate Sales & Prices
|
| |
Prop
Type |
|
# of
Units |
|
Sold Price
Median | Average |
|
Days on Mkt
Med | Avg |
|
% of
List |
|
$/Sq Foot |
| |
|
|
|
|
|
|
|
|
|
|
| Homes |
|
199 |
|
$540,000 |
$591,224 |
|
21 |
47 |
|
95.6 |
|
$193 |
| Condos |
|
39 |
|
$478,259 |
$459,954 |
|
7 |
39 |
|
106.5 |
|
$239 |
| Multi |
|
4 |
|
$596,000 |
$561,000 |
|
17 |
15 |
|
96.8 |
|
$229 |
| Land |
|
22 |
|
$157,500 |
$182,500 |
|
21 |
69
|
|
91.3 |
|
NA |
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Statewide Results:
For the fourth consecutive year, Maine home sales set a new record in 2018 as 17,983 single family homes were sold, representing an increase of 1.0% over 2017 when total volume was 17,810
The YTD (Year-to-Date) median single-family price of $215,000 represented a 7.5% increase over 2017. Overall, pricing was up in 13 of Maine’s 16 counties, and remained consistent in two. The highest single month was May at $244,839, followed by April and then March.
Each month of 2018 was higher than 2017. Between 2007 and 2011 median prices declined each year, reaching their lowest level in 2011 at $165,000. From 2012 onward, pricing has increased ever year, with one exception - 2014.
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