If you’re interested in the real estate market in Maine, specifically York County, then this article is for you. We’re going to take a look at where the real estate market was, where it is, and where it’s going, so you can make an informed decision.
Current Market Conditions
- There’s 1.55 months worth of inventory on the market, indicating a seller’s market.
- This number is up 5.44% month over month, which is relatively normal for the spring market.
- The list of sold prices shows that properties are selling for 102.2% of the asking price.
- The median days on the market is 12, indicating a fast-paced market.
- The median sold price is $450,000.
- The average new listing price is $464,900, with a total of 399 properties on the market.
- The total sales volume for May 2023 was $257 million.
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Current Active Listings
- The median price for active listings on the market is $590,000, down 1% month over month.
- There are currently 411 properties available.
- The median days on the market for active listings is 33.
- The total volume of all active listings is $339 million.
New Pending Listings
- In May, there were 334 new pending listings.
- The average days on the market for new pending listings is 11.
- The total volume for new pending listings in May was $192 million.
- The median sale price for new pending listings is $432,450, an increase of 4.2% month over month.
- The total number of pending listings is 489.
- The average days on the market for pending listings is 10.
- The total volume for pending listings is $304 million.
- The median price for pending listings is $459, a decrease of 2.3% month over month.
Sold Properties
- In May, 225 properties were sold.
- The average list-to-sale price ratio is 102.16%.
- The median days on the market for sold properties is 12.
- The total volume for sold properties in May was $127 million.
- The median sold price for properties is $450,000.
Supply of Inventory
Looking at a one-year and two-year comparison, the supply of inventory in the Maine real estate market, specifically York County, is still at a historic low. While there has been a slight increase in the past year, the overall trend remains low.
Market Information and Tools
The information provided in this article comes from Maine MLS and RPR. Maine MLS is the most accurate and updated source of information on the market. If you don’t have access to Maine MLS, you can still access tools that can provide you with valuable information. Visit exploremainelife.com and click on “Market Snapshot” to search for the area you’re interested in. You’ll be able to see sold listings and subscribe to market activity updates to stay informed about the market.
Upcoming June Updates
If you found this information helpful and would like to stay updated, please consider following, liking, and commenting. In about a week, we’ll be releasing a video with the June numbers, allowing us to compare June to May of this year and see the direction the real estate market is heading.
Get Help with Your Real Estate Needs
If you need assistance with any of your real estate needs, please don’t hesitate to reach out. Visit exploremainelife.com or click on the link below for more information.
Thank you for reading and stay tuned for the June market update!
John Moscillo
EXP Realty
NH and Maine
207-200-1988
ME@exploremytown.com
