More single-family homes for sale in Maine compared to a year ago, coupled with strong demand from buyers, resulted in higher sales figures and home prices in February. According to Maine Listings, home sales jumped 11.44 percent in February, year-over-year, across Maine’s 16 counties. The median sales price for homes sold reached $354,000 in February 2024, an increase of 7.52 percent over February 2023. The MSP indicates that half of the homes were sold for more and half sold for less.

February 2024 

In today's blog, we are offering a snapshot of basic market statistics for single family homes and condos in Kennebunk, Maine, for February 2024. While we provide essential data in this article, we're also here to assist you with more in-depth and comprehensive information upon request. Feel free to reach out to us if you would like a more detailed analysis or specific data points to support your real estate needs.

The real estate market faces low inventory, with a Months Supply of Inventory at 1.43, signaling high demand. Over the past year, an 18.18% increase in the Months of Inventory suggests a potential shift towards balance, offering buyers more options. Homes sell rapidly, spending a median of just 33 days on the market, indicating strong buyer interest. Sellers receive competitive offers, with homes typically selling close to their listing price, shown by a List to Sold Price Percentage of 99.6%. With a median sold price of $415,000, the market demonstrates strong demand and pricing, appealing to both buyers and sellers.