Courtesy / Maine Association of Realtors
January 23, 2020
2019 was a record year for Maine home sales
Photo / Maureen Milliken
Franklin County, in Maine's western mountains, had the biggest increase in single-family home sales volume in 2019, according to the Maine Association of Realtors. Pictured is downtown Stratton.
By Staff
Check out the county-by-county 2019 statistics.
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Sales of single-family existing homes in Maine jumped by double digits in December, and 2019 as a whole was a record year for volume as well as price, according to the Maine Association of Realtors.
“After an up-and-down year, 2019 ends as a record-breaker,” said Tom Cole, 2020 president of the Maine Association of Realtors and managing broker of Better Homes and Gardens Real Estate The Masiello Group in Brunswick.
“Year-end statistics indicate the highest statewide sales volume and median sales price ever for Maine, reflective of high buyer demand, tight for-sale inventory and strong pricing.”
According to Maine Listings Service, 1,497 homes were sold in Maine in December — up 23.2% from the 1,215 that changed hands in December 2018. Prices were up 7.8% from December 2018, with a median sales price of $234,000, compared to $217,000 the previous year. All but one of Maine's 16 counties had an increase in sales price.
Median sales price means that half of the homes were sold for more and half sold for less.
Sales for the year as a whole were up 1.55%, to 18,140 from 17,864, and and the overall MSP rose 4.65%, to $225,000 from $215,000. The biggest increases were in rural and Downeast counties.
Franklin County, with a population of about 30,000, showed the largest percentage increase in sales for the year, up 13.2%, with 507 existing single-family homes sold, compared to 448 in 2018. The biggest median sales price increase was in Piscataquis County, population around 17,000, where the median price rose 15.5%, to $122,750 from $106,250.
Aside from Franklin County, counties showing the biggest increases in volume for 2019 were Downeast or nearby — Hancock (9.9%, 855 homes sold in 2019, 788 in 2018), Penobscot (8.4%, 1873, 1728), Washington (7%, 396, 370). Also showing slight gains were Waldo, Kennebec and Oxford counties. The biggest decrease was in Knox County, in the state's midcoast, at 8.9% lower than 2018, with 562 homes sold in 2019, compared to 617 in 2018.
Maine's most populous county, Cumberland, with 292,500 residents, had a slight increase of 0.32%; York County, with 204,00 residents, recording a slight decrease of 1.05%.
Aside from Piscataquis County, the biggest median sales price increases were Somerset County (8.7%, $125,000 in 2019; $115,000 in 2018), and the Doweast counties of Hancock (8.33%, $227,000, $210,00) and Washington (7.95%, $129,000, $119,500).
All but one of Maine's 16 counties had increases in median price, or no change. The only county with a decrease was Knox, where the median price dropped 3.62%, with a median of $236,125 in 2019, compared to $245,000 in 2018.
For a look at all 16 counties, see the chart at the bottom.
“Home ownership continues to be a great investment, building equity and wealth over time,” said Cole.
Nationally, sales and prices were also up, according to the National Association of Realtors. National sales showed a 10.6% increase in December, and prices an 8% increase, with the median national price in December $276,900. Regionally, sales in the Northeast were up 8.8% when comparing December 2019 to December 2018, and the regional MSP of $304,400 represents a 7.4% increase in December.
2019 Maine Home Sales
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