Monthly Home Sales Report for Portland and Southern Maine provided by Maine Home Connection
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Maine Home Sales Statistics

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Maine Home Connection is the only greater Portland real estate agency updating monthly home sales statistics on a regular basis. Access Reports by town using the links below:

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Annual Report
2021 YE Sales Results


December Results

The real estate market in Maine adjusted during the 2022 sales year due to an increase in mortgage interest rates and a shortage of available homes for sale. For the year, single family home sales decreased 17.5% compared to 2021. Home prices, however, continue to rise. The median sales price (MSP) for the year reached $335,000 - up 12.0% percent over 2021. 

The sales year ended with just over 16,800 homes sold and a median sales price of $335,000 - down 8.5% since its peak in June.  Overall, the numbers reflect the impact of mortgage rate increases, the typical fourth-quarter seasonal slowdown and a continued shortage of for-sale housing inventory.

Statistics gathered by Maine Listings for the month of December 2022 indicated an 8.9% MSP increase to $330,000 compared to December 2021. Sales declined 36.6% comparing December 2022 to December 2021. 

Nationally and Regionally

According to the NAR, single-family home sales across the county declined 33.5% comparing December 2022 to December 2021 and the MSP rose 2.0% to $372,700. 

Regionally, December 2022 sales in the Northeast were down 28.8% compared to December 2021 and the MSP increased 1.6% to $391,400. It is clear that buyers are taking a bit of a pause as they adjust their expectations due to less-favorable financing terms compared to mid 2022.  This is true of sellers as well  

 As we move through 2023, we expect would-be buyers to re-engage with the market and the demand for residential real estate to remain high. Conditions are favorable for a gradual balancing of the real estate market.

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