© 2024 Maine Public | Registered 501(c)(3) EIN: 22-3171529
Play Live Radio
Next Up:
0:00 0:00
Available On Air Stations
Scroll down to see all available streams.

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.

A Columbia University graduate, Fred began his journalism career as a print reporter in Vermont, then came to Maine Public in 2001 as its political reporter, as well as serving as a host for a variety of Maine Public Radio and Maine Public Television programs. Fred later went on to become news director for New England Public Radio in Western Massachusetts and worked as a freelancer for National Public Radio and a number of regional public radio stations, including WBUR in Boston and NHPR in New Hampshire.