Maine Monthly Market Update

February 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 $380,233, with coastal and urban areas seeing the highest values.

Key Regional Trends

  • Cumberland County leads with a median price of $535,528, maintaining its position as the state’s most expensive market.

  • York County follows at $483,250, continuing its steady price growth.

  • Portland remains in high demand, reaching $551,083.

  • Androscoggin County and Auburn & Lewiston provide more affordable options with prices around $299,500.

  • Bangor stays among the lower-cost urban markets at $269,667.

  • Aroostook County, still Maine’s most affordable market, holds at $137,888.

Rising Price Reductions: Are Sellers Adjusting Expectations?

Recent data shows that more sellers are reducing their listing prices to attract buyers, suggesting a possible shift in the Maine real estate market. Several counties have seen notable increases in the percentage of homes that required a price drop before selling, particularly in Piscataquis (+17%), Sagadahoc (+11%), and Hancock (+9%).

Breaking Down the Numbers

  • Piscataquis County saw the largest jump, with the percentage of listings that had price reductions increasing from 28% last year to 45% this year—a 17 percentage point increase.

  • Sagadahoc County saw a jump from 23% to 34%.

  • Hancock County rose from 29% to 38%.

  • Somerset County and Penobscot County also had increases of 9% and 8%, respectively, reaching 48% and 47% price reductions on listings.

Active Listings See Continued Growth Across Maine

Active listings (rolling average - Dec 2024 – Feb 2025) increased across most regions of Maine, signaling a continued shift from the tight inventory conditions seen in previous years. Statewide, the number of active listings rose to 3,921, up 6.71% from 3,673 during the same period last year. While this represents an increase, the market still remains -49.80% below pre-pandemic inventory levels when there were 7,814 active listings in early 2021.

County-Level Breakdown: Where Inventory Is Growing the Most

The largest year-over-year percentage increases in active listings occurred in:

  • Cumberland – 524 listings, up 22.75%

  • Androscoggin – 116 listings, up 17.14%

  • Hancock – 242 listings, up 13.08%

Inventory Growth Compared to Pre-Pandemic Levels

Despite the increases, inventory remains well below early 2020 levels when Maine had a rolling average of 7,814 active listings for the same period. This means that while buyers now have more choices than in the past two years, competition remains strong in key markets.

What This Means for Buyers and Sellers

  • Buyers: More inventory means greater selection, but competitive pricing remains in areas with limited supply.

  • Sellers: Homes may take longer to sell than in previous years, making strategic pricing more important.

Are Homes Moving Faster or Slower?

Months of Inventory has increased across several counties, reflecting a shift toward a more balanced market. Androscoggin County saw inventory rise slightly to 1.75 months, while Aroostook County remains one of the slowest-moving markets with 6.1 months of supply. Cumberland County also saw an increase to 2.09 months, compared to 1.92 months last year.

Statewide, homes are spending more time on the market. The Average Days on Market (DOM) in Aroostook County increased from 66 days last year to 92 days, while Bangor saw an increase from 39 to 47 days.

Shifts Compared to Previous Years

Compared to 2021-2022, when inventory was at historic lows, absorption rates have risen significantly. Cumberland County had just 1.27 months of inventory in February 2022, increasing to 2.09 months in 2025, a 64.6% rise. Aroostook County saw an even larger jump from 3.68 months to 6.1 months, a 65.8% increase, reflecting slower market conditions.

Androscoggin County nearly doubled its inventory, rising from 0.89 months in 2022 to 1.75 months in 2025. Hancock County saw a 99.2% increase, moving from 2.56 months to 5.1 months.

While inventory remains below pre-pandemic levels in some areas, the market has shifted away from the extreme seller’s conditions of 2021-2022. Buyers now have more options, but supply is still constrained in high-demand regions.

Maine’s housing market continues to adjust as inventory expands, homes stay on the market longer, and price reductions become more frequent. While active listings and months of inventory have increased, they remain below pre-pandemic levels, sustaining competition in key areas. Median sale prices are still rising, indicating ongoing demand, but longer days on market and a rise in price reductions suggest that sellers may need to adjust pricing strategies. This trend is more pronounced in certain counties where reductions are becoming more common. As we move further into 2025, tracking how buyers and sellers respond to these shifts will be essential in understanding the market’s trajectory.