December Results Sales of single-family homes in Maine increased by double digits in December. Statewide 1,497 were sold, representing an impressive increase of 23.2% over December of 2018.
The median selling price was up 7.8% for the month, reaching $234,000 – the second highest price point of the year. Comparing the monthly results of the last two years, the median selling price in 2019 has exceed the same month of 2018 10 times.
Year to date, Maine ended the year setting a new record for both volume and sales. Single family sales of 18,335 were 1.7% ahead of 2019 and the median selling price (MSP) of $225,000 was up 4.7% year-over-year.
Prices were also up 7.83 percent, reaching a median sales price (MSP) of $234,000 comparing December 2019 to December 2018. The MSP indicates that half of the homes were sold for more and half sold for less.
Like the rest of Maine, sales in Cumberland County in December were also up significantly, as the infographic below highlights. Unit sales for the year were up marginally by 0.4%, while prices, impacted by low inventory, were up for the year by 5.6%
National & Regional
Nationally, comparing December 2019 to December 2018, the NAR reported a
10.6% sales increase Prices also rose 8.0% over that time period, to
$276,900. Regionally, sales in the Northeast were up 8.8% and the
regional MSP of $304,400 represented a 7.4% increase comparing December
2019 to December 2018.
Cumberland County Prices and Sales
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