While recording their lowest level since April, single family home sales of 1,205 still remain 22.3% ahead of 2014. Similarly, the median home price of $180,000 represented the first monthly decline in ten months, yet based strong results of prior months, YTD pricing is still ahead of last year. In November, the amount discounted from list price reached its lowest level since February at 92.2%. After months of strong selling prices there appears to be some gradual retreat.
Not surprisingly, sales results were stronger in Cumberland County. Monthly and YTD both exceeded prior year results by more than 10%. Additionally, the median price in November increased for the third consecutive month and has been over $250,000 for six straight months. This type of sustained price consistency has not been achieved for a long time. The only real outlier has been January 2015, when the monthly median price was $210,000, due to the mix of homes sold. More importantly, the YTD median price is up 2.3%, reflecting a better representation of where we are right now in regard to pricing.
We also track the number of new listings that become available each month. In November, the number of new properties reflected 9.1% of all homes available for sale – the lowest of 2015 – and lower than the 11.1% mark recorded in November 2014.
As always, the chart below includes YTD results and comparisons for several local communities. While there is a general trend of increased volume and pricing, there are certainly a number of surprising anomalies.
More details are always MaineHomeConnection.com is updated each month with the latest sales statistics. You can access this information by town at Local Communities, or try our Interactive Sales Chart. If you don’t see what you are looking for, we can prepare a custom report for you.