Residential real estate inventory and median prices are continuing an upward trend in Cumberland County, according to a comparison of October data with a year ago.
The median price rose 10.79%, from $559,600 in October 2024 to $620,000. The number of single-family homes sold in October increased by 7.08%, according to the Greater Portland Board of Realtors.
“The Greater Portland market is continuing to benefit from more inventory on the market,” said Aaron Chadbourne, president of the trade group.
Cumberland County continued to see robust demand, strong pricing and an active market in nearly all communities, the board said.
Falmouth had a median home price of $1.395 million, up 24.5% from $1.12 million in October 2024.
Cape Elizabeth followed, at $1.3 million, up 49% from $875,000.
Portland’s median price was $617,500, up 1.23% from $610,000 a year ago.
Maine’s overall October median sale price reached an all-time high of $426,000, surpassing the U.S. median price, which was $420,600.
Declines
Despite the overall increase, a number of individual municipalities saw a decrease in median price.
The lowest median was in Casco, at $265,500, representing a 20% decrease from $335,000.
New Gloucester saw a 20% decline, from $570,000 to $456,500. Pownal was down 33%, from $683,148 to $460,000.
