For this report, we are examining the Maine real estate market, and we are focusing on three property types: single-family homes, condominiums, and multi-family homes.
Number of Homes Sold Increased by 3.0%
Home sales are currently at 7,434 in the first six months of 2025, compared to 7,220 last year:
- Single Families increased by 3.2%, condos rose by 6.3% but conversely, multi-families decreased by 7.0%
- Last year, Maine saw a slight increase in listings, which typically signals an upcoming rise in sales, helping explain the sales growth we’re seeing in 2025.
- The chart below shows that, besides seeing a slight decline in February and March, every other month this year, home sales have seen an increase when compared to 2024.
Prices Increase 2.9%
Homes Listed Increased 10.6%
There were 12,201 new listings in the first half of 2025 compared to 11,036 in 2024..
- 2023 saw the lowest number of homes listed in two decades, and it seems that was the bottom. Many sellers were hesitant to list their homes in an attempt to hold onto their pandemic-level rates. However, it comes to a point where making moves is not always a choice, especially when faced with certain life changes such as divorce, family growth, empty nesters, relocations, and job/income fluctuations.
- As we’re beginning to see an increase in new listings, homes are also starting to remain on the market a bit longer with fewer bidding wars. These trends indicate a shift toward a more balanced market. As more sellers enter the market, buyers are gaining more options and negotiating power.
- Generally, the number of new listings is an indicator of future pending sales, so with listings number up, we will hopefully see higher closed sales in the fall.
Pending Sales Increased 4.8%
The number of homes placed under contract decreased 4.8% year over year, with 7,776 pendings for the first half of 2025 compared to 8,169 in 2024.
Generally, the number of homes pending is an indicator of future closed sales, so we could see a slight decline in sales into the fall.
Predictions for the Rest of the Year
Maine’s housing market is projected to experience slight growth during the second half of 2025. An increase in available listings suggests a potential rise in pending sales and overall activity as the year progresses.
This inventory growth is expected to open up more opportunities for buyers, particularly those who faced strong competition and limited options in 2024. However, buyers should remain proactive and financially prepared to act quickly when the right property becomes available. Despite improved selection, affordability will likely remain a concern due to continued appreciation in home values and a rising cost of living across the state.
On the seller side, the market is beginning to transition into a more balanced phase. With a shift away from the highly competitive environment of recent years, accurate and realistic pricing will be key to attracting serious buyers.
Overall, Maine’s housing market is showing signs of stabilization, with a more even alignment between supply and demand. This adjustment sets the stage for more sustainable, long-term growth moving forward.
Data provided by FLEXMLS then compared to the prior year.