Maine tops US list of home price increases over the past 5 years

Most Mainers are keenly aware of the skyrocketing cost of buying a home in the Pine Tree State.

An interesting new study shows that Maine ranks No. 1 in the nation for the largest increase in median home price in the past five years.

Since 2019, when the median home price was $219,000, the cost has increased 78.5%, to $391,000, according to Pro Tool Reviews. 

The pandemic home buying frenzy fueled prices in New England, as the Top 10 shows, with Maine (at No. 1), New Hampshire (No. 2), Rhode Island (No. 3), Connecticut (No. 6) and Vermont (No. 7) reflecting the surge. 

Maine’s median sales price was $399,250 in July, a 5.07% increase from July 2023. Still, the figure reflected a decline from June, when the median price was an all-time high of $406,000.

And states that saw the smallest increases

Louisiana tops the list of states with the smallest increases, with single digit growth in home prices, Pro Tools Review’s report said. Rounding out the Top 5 were Texas, Oklahoma, Mississippi and Indiana. 

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