MaineBiz: Maine's home sales were on fire in February, up 23%

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Maine’s home sales market continues to climb in volume and sales.

Figures released Monday show that sales volume in February was up  22.77% and prices jumped 12.9%, year-over-year.

Last month's median sales price was $244,900. That compares with $216,900 a year ago.

“The hot pace of residential real estate activity continues, with sales volume and median sold values significantly out-performing February of a year ago,” said Aaron Bolster, broker and owner of Allied Realty in Skowhegan and 2021 president of the Maine Association of Realtors, in a news release.

In February in Maine, houses were on the market for an average of 21 days, compared to 52 days in February 2020.

Nation, region

Nationally, sales of single-family existing homes in February increased 8% compared to February 2020, and the national MSP rose 16.2% to $317,100 over that same time period. 

The Northeast in February experienced a sales jump of 13.2%, while the regional median sales price increased 20.5% to $356,000 compared to February 2020, according to the National Association of Realtors.

“Over the coming year, we’re hopeful for a return to pre-pandemic conditions, with more sellers entering the market which will ease the pent-up demand,” said Bolster. 


For the rolling quarter of December 2020 through February 2021, Washington County saw the highest increase in sales volume, 67%.  

That was followed by Piscataquis, 63%; Somerset and Waldo, 55% each; Knox, 54%; and Hancock, 50%.

Sagadahoc and Cumberland counties saw the lowest increases, at 2.7% and 4.29%.


Year-over-year February statistics for Portland showed a dramatic rise in sales prices and sales volume for single-family, multi-family and condominium sales, according to statistics prepared by Benchmark Real Estate using data from Maine Listings.

For the three categories, Portland saw a 34% increase in the overall median sales price over February 2020, and a 73% increase in sales volume.

February single-family sale prices were 46% higher than February 2020. 

February 2020 was the last “normal” sales month before the pandemic shutdown, noted Benchmarks’ owner, Tom Landry.

“Portland saw a continued upward trend in prices and higher than normal volume throughout the fall and winter months,” Landry said in a separate news release. “We expect a very strong 2021 spring market.” 

Highest sales in Portland for February were as follows:

• Single-family: 102 Park St., $1.575 million

• Multi-family: 232-236 High St., $1.9 million 

• Condo: 185 Fore St., No. 401, $1.75 million.

Original Article Sourced from MaineBiz