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Business and Economy

Home Sales in Maine Begin to Slow — But Prices Keep Climbing

New Homes
Pat Wellenbach
/
AP
In this July 26, 2011 photo, a sale pending sign is set outside a house in Bath, Maine.

Home sales fell a bit in Maine last month, but housing prices in the state continued their rapid surge.

According to the Maine Association of Realtors, home prices rose 24% last month, compared to the year before, with the median sale price hitting $315,000.

Home sales in the state did drop slightly in July compared with a year before, but realtors say the numbers still outpace sales figures from 2019. And the Maine Association of Realtors notes that the number of houses on the market has finally begun to creep upward after months of scant supply.

Maine's housing numbers mirror what's being seen across the country, as nationwide home prices have increased nearly 20% over the past year.