Facts are stubborn, but statistics are more pliable – Mark Twain
Inventory is building faster than the market is absorbing it — and Cumberland County hasn’t felt it yet. Nationally, July sales ticked up 0.8% and the median price rose to $440,300. The Northeast told a sharper story: sales flat, but prices up 5.2% to $563,800 — a region still short on supply. Maine moved the other direction: sales jumped nearly 8% statewide as inventory topped 6,200 listings, the most since 2019.
Cumberland County sits in between. Active listings are up 29% year-over-year, and months of supply climbed to 2.2 — up 29% from last July. Normally that kind of supply surge cools things off fast. It hasn’t yet: the median price is still up 3.3% for the month, and homes are still moving in a median of 7 days, unchanged from a year ago.
The MHC Perspective:
That gap won’t last. List-price-received has already slipped to 100.7% YTD, down from 101.2% — a small number, but it’s the first sign sellers are losing a little leverage. More listings, steady speed, softening premiums: that’s usually the setup before prices start to bend, not after. For sellers, that’s a pricing sharp now market, not a wait and see one. For buyers, the leverage everyone’s been promised is arriving — just not everywhere at once.
As the marketplace shifts, whether you’re selling or buying, communicate with an agent at Maine Home Connection early for the best strategy to navigate the complexities of your transaction. With high interest rates and record level home prices, Maine’s real estate market continues to be challenging. If you are looking to buy or sell in the near future, it is a good idea to consult with one of our professional MHC agents.
Ours is a business built on knowing the difference.
Until next time … Imagine More!
Michael Sosnowski
Designated Broker | Principal
