Maine home sales set a new record in 2016 as 17,632 single family homes were sold, representing an increase of 11.1% over 2015. Sales in both Cumberland and York counties established new records as well, up 2.5% and 11.2% respectively. All of Maine’s 16 counties experienced increases in 2016 vs 2015. Across the state, total sales volume has improved each year from 2011 to 2016.
This sustained level of growth, however, was tempered in some communities in the greater Portland area. While Portland sales exceed 600 units sold for the first time in history, other towns fell back from 2015, as the attached graph illustrates. This was a direct reflection of low inventory levels and record setting sales performances in the prior year.
Focusing on Cumberland County, where growth was the lowest in the state, monthly sales exceeded those of 2015 in only six months. Comparatively, in 2015 monthly sales exceeded those of the prior year in ten months.
In York County, where sales growth was much stronger in 2016, sales were higher in 22 of the last 24 months, compared to the previous years.
Download a Complete Report at: Maine Home Sales Report – 2016