Maine’s median home sale price fell for the second consecutive month in September, marking only the second time this has happened in more than five years, according to new data from the Maine Association of Realtors. The statewide median sale price stood at $402,500 last month, meaning half of the homes sold for more and half sold for less.
“We are seeing an increasing number of homes for sale, increasing time-on-market, and pricing concessions which eases the competition that buyers have been facing for the past five years. We’re moving beyond the pandemic frenzy,” said Jeff Harris, president of the Maine Association of Realtors, in a written statement on Thursday afternoon.
While Maine experienced a decrease in year-over-year prices, national home prices continued to climb, maintaining a trend that has lasted more than two years. The national median sale price in September was $415,200, up about 2.1% from last year, according to the National Association of Realtors, which also released its data Thursday.
Year-over-year prices have increased nationally for 27 consecutive months, according to the association.
In Maine, the decline in prices coincided with a higher number of home sales. The state saw approximately a 5.1% increase in the number of units sold last month, with 1,582 sales compared to 1,505 in September 2023.
Nationally, growth in home sales was slightly lower, with about 4.1% more homes sold last month compared to September of last year.
Lawrence Yun, chief economist at the National Association of Realtors, attributed the national rise in home sales to a recent drop in mortgage rates and “improving housing affordability,” according to his written statement on Thursday.
This story will be updated as more information becomes available.
https://www.sunjournal.com/2025/10/23/maine-home-prices-fell-for-second-month-in-a-row-in-september/
About the Author
