Maine home prices were up in February — but so was sales volume

Photo / Laurie Schreiber Homes sales were up 6.5% in February.

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February showed an increase in home sales, prices and homes available, according to Maine Listings.

Sales of single-family existing homes increased 6.51% in February, compared to February 2024.

Realtors reported that 753 homes closed across the state, and the median sales price for those sales reached $381,500, a rise of 9% from a year earlier.

“Maine’s real estate industry showed continued improvement in February,” said Jeff Harris, president of the Maine Association of Realtors and a broker with Harris Real Estate in Farmington. “For-sale listings are up 14% and sales are up 6.51% over a year ago February. The 753 sales reflect the ninth best month since the year 2000.”

Despite pricing increases, there was good news for buyers thanks to an increased number of homes on the market statewide, while mortgage rates ticked downward and, in some markets, price growth moderated.

Nation, region

The National Association of Realtors reported a 0.3% decrease in sales in February compared to February 2024. Home prices increased 3.7% to a national MSP of $402,500.

Regionally, sales in the Northeast were up 4.2% in February, while the regional MSP of $464,300 indicates an increase of 10.4% over February of a year ago.