Maine Monthly Market Update

March 2025

Current Market Snapshot

Property values remain high across Maine, with median prices reflecting strong demand despite shifting market conditions. Statewide, the median sale price (rolling 3-month average) now stands at $367,367, with coastal and urban areas seeing the highest values.

Key Regional Trends

  • Cumberland County leads with a median sale price of $530,500, maintaining its position as Maine’s highest-priced residential market.

  • York County follows at $455,417, reflecting continued upward pricing pressure.

  • Portland remains among the most expensive local markets, reporting a Q1 median of $564,167.

  • Androscoggin County and Auburn & Lewiston offer relatively lower price points, with medians of $310,833 and $315,667, respectively.

  • Bangor continues to rank among the more affordable urban centers, with a Q1 median sale price of $270,333.

  • Aroostook County, the state’s least expensive market, recorded a median sale price of $135,929.

Rising Price Reductions: Are Sellers Adjusting Expectations?

Recent data from January through March 2025 shows a continued rise in the share of homes requiring a listing price reduction prior to sale. When compared to the same quarter one year ago (Q1 2024), several counties posted significant year-over-year increases.

Breaking Down the Numbers

  • Piscataquis County recorded the largest jump in price reductions, increasing from 31.9% in Q1 2024 to 46.8% in Q1 2025.

  • Franklin County rose from 33.8% to 44.9%, an 11.1-point increase.

  • Knox County had the highest overall percentage at 49.1%, up from 39.3% the previous year.

  • Penobscot and Aroostook Counties also experienced meaningful increases in price-adjusted sales.

These trends suggest that more sellers are recalibrating expectations amid ongoing affordability challenges and lengthened marketing times in many parts of the state.

Active Listings See Continued Growth Across Maine

Inventory levels increased across much of Maine in Q1 2025, continuing a trend that began in early 2023. Most counties reported higher active listing counts relative to prior years, although levels remain below pre-pandemic benchmarks in several regions.

  • Cumberland County recorded the highest Q1 2025 inventory in the state, averaging 527 active listings, up from 432 in Q1 2024 but still below the Q1 2019 level of over 1,000.

  • York County followed with 451 active listings, a 24% increase over last year.

  • Androscoggin County averaged 94 active listings, a modest gain from 81 in Q1 2024, but still well below the 274 listings seen in Q1 2019.

  • Oxford, Somerset, and Franklin Counties also posted year-over-year increases, although inventory levels in these rural regions remain comparatively limited.

  • Portland registered an average of 108 active listings in Q1 2025, up from 82 the prior year, reflecting improved availability in the metro core.

Despite the gains, available inventory across most counties remains constrained compared to historical norms. This contributes to continued pricing pressure in many areas, particularly in southern and coastal regions where demand remains strong.

Maine’s residential market continues to recalibrate as inventory levels rise and marketing times lengthen. While active listings and months of inventory have increased across most counties in Q1 2025, they remain well below 2019 benchmarks. Median sale prices have continued to trend upward, reflecting sustained demand in many submarkets. However, the growing share of closed sales involving price reductions—particularly in counties such as Piscataquis, Franklin, and Knox—indicates that sellers are increasingly required to adjust list prices to meet buyer expectations. As the year progresses, market participants will need to monitor whether elevated inventory and increased pricing sensitivity alter transaction velocity or price trajectories across the state.