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Falmouth Maine Real Estate

Homes Sales Results

Real estate sales in Falmouth are predominantly single family homes, as they represent 80% of the total sales mix. Additionally, sales vary considerably depending upon whether homes are located along the ocean (Falmouth Foreside), in one of the towns three country clubs 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.

2013 was a strong year for home sales in Falmouth, as 177 properties were sold, representing an increase of 22.9% over 2012.  Additionally, the median selling price increased 8.1% to $410,991.  Although still below the record level of $450,500 recorded in 2005, it was the second highest price level in Cumberland County, trailing only Cape Elizabeth.  This improvement also follows three consecutive years of declining sales prices.

53 sales were of homes priced between $500,000 and $1,000,000, with a median price of $639,000.  There was 3 sales in excess of $1,000,000, with the most expensive being $1,295,000.

Condos are not a significant part of the Falmouth real estate market, but it is a growing segment.  In 2013 there was 25 condo sales, representing an increase of 66.7%.  There are more developments dedicated to condos that in the past and the median price improved 8.8%.

There is some limited new construction ongoing in Falmouth and the sale of 17 land parcels was slightly down from 2012.  The median price of $170,000 was 30.1% above the previous year.

 

2013 Falmouth Real Estate Sales & Prices

 
Prop
Type

# of
Units

Sold Price
Median     |     Average

Days on Mkt
Med  |  Avg
 % of
List
 %
Total
           
 Homes 177 $401,991$442,330 59
105 94.6 80.0
 Condos 25
 $319,900$387,354 37
70
 94.4
 11.3
 Multi 2
 $237,500$237,500 17
17
 87.2
 0.9
 Land 17
 $170,000$175,617 44
166
 95.0
 7.7


Across the state of Maine single family home sales were up 13.6% in 2013 versus 2012.  Pricing also was up 2.9%, reflecting a trend of stabilization and two consecutive years of improvement. Cumberland County sales volume improved 15.6% while pricing improved dramatically 7.1%.

Falmouth is one of the most desirable locations in the greater Portland area. It is well known for its schools, ocean access, business climate and attractive neighborhoods. Direct waterfront along the Foreside is possible, but can be very expensive. However, unlike previous years, traditional colonial style homes in the middle 300’s and 400’s are available in both subdivisions and newly developed communities.

2014 Compared to 2013 - YTD Sales Results

The Falmouth real estate market, like all markets across the country, is affected by many factors.  It is a relatively small market, yet one of the higher-priced markets in Southern Maine. As a result, often month-to-month results yield wide fluctuations.  Reviewing sales data on a YTD comparion attempts to moderate the affects of seasonality, cyclicality, unusual high-end sales and macroeconomics. 

 

2014 vs 2013 Sales - YTD Results Through December

 
Prop
Type

Median Prices YTD
2014       |       2013
 Unit Sales YTD
2014  |  2013

Current
Inventory

%
U/C
         
 Homes $440,000$402,000 192177 75
 34.6
 Condos $329,000 $319,900  29
25 11
 18.2
           
All housing data has been compiled from research by Maine Home Connection using information from the Maine Real Estate Information System (MREIS).

 

Addtional Falmouth Sales Information 

 
Footer-Bird2011 Falmouth Sales Report (Comparison to 2010)
Maine Housing Stats
Footer-Bird2010 Falmouth Sales Report (Comparison to 2009)
Footer-Bird2012 Maine Sales Report (Selected Cities & Counties)
Footer-Bird2011 Maine Sales Report (Selected Cities & Counties)
Footer-BirdSales Report Archives (All Prior Year Reports)
  
 
 
 Falmouth Sales History
YearUnitsPrice
   
2013
177
$401,991
 2012144$372,000
 2011136$413,625
 2010148$417,000
 2009155$360,000
 2008121
$430,000
 2007168$418,750
 2006164$450,500
 2005163
$405,000
   

Single Famliy Homes

2013 Graphs-Falmouth Sales

2013 Graphs-Falmouth Prices


Interactive Map
Sales Results

Tableau Map

  Click to View


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