More demand than supply continued to fuel Maine’s real estate market trends in November.

Latest figures from Maine Listings reveal a drop in unit sales while prices paid were again on the rise – a lack of inventory and a still healthy number of qualified buyers looking for available homes couple to propagate a now long-term theme.

Industry watchers underline that home sellers face even less competition at this time of year with many traditionally holding off listing until spring. In turn it’s a situation that makes the challenge of finding homes for sale more acute for buyers.

The Maine Listings data indicates a dip of 5.51% in home sales last month when compared to November 2022. Conversely the median sales price (MSP) increased by 9.23% to stand at $355,000 statewide.

The MSP is a measure calculated on half of homes selling for more and half for less.

Nationally, November’s sales eased 7.3% from November 2022. 

According to the National Association of Realtors, the national MSP for existing
single–family homes increased 3.5% to $392,100 last month.

Sales in the regional Northeast declined 13% and the regional MSP rose 4.8% to $428,600 compared November 2023 to a year ago.