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Business and Economy

Maine Real Estate Sales 'Just Incredible,' Tracking 7.9% Ahead Of 2019

As far as real estate sales in Maine are concerned, the pandemic took away, and then it gave — and gave some more.

Data released on Tuesday show that while property sales in Maine tanked between March and June, the market roared back after that. Sales numbers are now on track to be higher than in 2019, which itself was a record year.

“It’s just incredible, actually astounding. The numbers that we’re at right now year-to-date are 7.9% ahead of last year,” says Tom Cole, president of the Maine Association of Realtors.

Cole says that statewide, the median price of a home sold in November rose to $270,000 — $45,000 more than in the previous November. Low interest rates, he says, are helping to keep homes affordable, even with the price increases.

Cole adds that the proportion of home sales to out-of-state buyers rose to more than a third. The top home states for those buyers were Massachusetts, New Hampshire, New York and California.