As we closed out 2024, both Cumberland and York Counties have shown notable year-over-year changes in new listings, median prices, sold listings, and time on the market, offering valuable insights for buyers, sellers, and investors alike.
Cumberland County Real Estate Market: December 2024
- New Listings: Cumberland County recorded 160 new listings, a substantial 48.1% increase year-over-year. This growth signals a surge in seller activity, providing expanded options for prospective buyers.
- Median Price: The median home price climbed to $605,000, reflecting a 22.2% year-over-year increase. This marks a sharp turnaround from the softening prices seen in November, underscoring rising demand and market resilience.
- Sold Listings: The number of sold homes reached 250, a 22.3% increase from last year. The combination of increased inventory and rising sales indicates strong buyer confidence in the market.
- Time on Market: Homes averaged 15 days on the market, six days longer than last year. Despite this slight slowdown, the market remains competitive.
York County Real Estate Market: December 2024
- New Listings: York County saw 146 new listings, up 53.7% compared to the same period last year. This impressive growth highlights increasing opportunities for buyers in the region.
- Median Price: Home prices in York County rose to $499,000, marking a 9.2% year-over-year increase. While the growth is more moderate compared to Cumberland County, it still indicates strong demand and sustained interest in the area.
- Sold Listings: York County closed the year with 193 sold single family homes, reflecting a 12.2% increase year-over-year. This solid growth showcases the region’s continued desirability among homeowners and investors.
- Time on Market: Homes in York County averaged 17 days on the market, an increase of five days from last year. While homes are spending slightly more time on the market, the activity remains healthy and consistent.
What These Trends Mean for You
For buyers, increased listings in both counties mean more options to find the perfect property. We anticipate listings to increase as we move towards spring, as we often do as the seasons change. For sellers, the data points to strong demand and opportunities to achieve competitive pricing, especially with the continued rise in median home values.
Thinking of buying or selling in the coming year? Reach out to us for insights and strategies tailored to your goals!
Portland Named One of the Best for Finding a Job in America
A recent study by WalletHub evaluated over 180 U.S. cities to identify the best job markets in 2025, considering factors such as job opportunities, employment growth, and average starting salaries.
The study highlights the importance of local economic conditions in real estate decisions, and we are all happy to see Portland, Maine coming in at #5 in their list.
Whether you're considering relocating for a new job or investing in property, understanding the interplay between employment opportunities and housing markets can help you navigate your next steps effectively.
