We can see from the data that listings are down (new and sold) which is contributing to the increase in median sales prices in both Cumberland and York Counties. This has been the trend for many months now as the shortage of housing continues in Maine, particularly in these two counties. In addition to supply and demand imbalance, we ran across an article earlier this month detailing that Maine was the only state to gain income from pandemic population shifts. There is little doubt this has contributed to the increases in sales prices.
Another recent article details that Maine is bucking a national slowdown in Airbnb rentals.
While news of housing trends nationwide vary, it is clear that the secret is out. Maine seems to be improving its reputation as a desirable destination for vacationers and homeowners alike!
Want to explore these trends, dig down into your town, or maybe dig into trends of different property types? Be sure to visit our new and improved Maine Real Estate Statistics page on our website!