Your Maine Real Estate Market Report | November 2024 Stats

The Scott & Sunny Townsend Team with Keller Williams is your premier source for Real Estate Market Information in Maine. 

The Maine real estate market is beginning to see a shift to a more balanced market. Maine Listings today reported a 6.81 percent increase in sales of single-family existing homes during the month of November compared to November 2023. The median sales price (MSP) increased 8.45 percent to $385,000. The MSP indicates that half of the homes were sold for more and half sold for less.

“Winter season is a great time for sellers to list their homes with less competition and for buyers to remain persistent in their quest for homeownership as life changes always happen, regardless of the season,” says President of the Maine Association of REALTORS®. “Prospective buyers are in a better situation than they were a year ago across many markets in Maine. The number of homes for sale has increased, price appreciation is slowing, and the economic forecast is good.”

According to the National Association of Realtors, sales of single-family existing homes increased 7.4 percent nationally in November 2024 compared to November 2023. The national MSP reached $410,900 in November, a rise of 4.8 percent. Regionally, sales in the Northeast jumped 6.3 percent while the regional MSP increased 9.9 percent to $475,500 in November 2024 compared to November a year ago. 

“We’re seeing promising signs that the real estate market is beginning to show signs of shifting slightly, with supply increasing and slower price appreciation.”

“The statewide sold statistics from January through November 2024 are 4.1 percent ahead of the same time period from a year ago.  I’m optimistic that 2024 will end positively and buyer demand will remain strong throughout 2025.” 

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