In a press release to the media today, Maine home sales decreased -25.40% comparing September 2023 to September 2022. The median sales price (MSP) was $376,750, a 14.17% increase in that same time period. NAR reports that existing home sales were down, and median sales prices were up nationally and in the northeast comparing September 2023 to September 2022.

Maine Residential Market Overview - Best Quarter of the Year!

The third quarter brought a noticeable seasonal shift in inventory and sales, making it the busiest and most vibrant period for Maine's real estate market this year. It was a mixed bag of real estate tales - ranging from intense bidding wars for coveted single-family homes in the Portland area to the less fortunate fate of overpriced listings that lingered without securing acceptable offers, eventually leading to strategic price reductions until finding the elusive "sweet spot."

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September 2023, York County

When it comes to understanding the real estate market, there are several important metrics that can give buyers and sellers valuable insights. Let's take a closer look at the correlation between the following metrics: Months Supply of Inventory, 12-Month Change in Months of Inventory, Median Days Homes are On the Market, List to Sold Price Percentage, and Median Sold Price.