More buyers are emerging from the woodwork as prices moderate in the southern Maine residential real estate market, according to a third-quarter report by RE\/MAX\u00a0Shoreline.<\/p>\n
With mortgage rates easing, prices moderating and more inventory coming online, sales and new listings rose year-over-year across much of Maine, according to the report.<\/p>\n
In Portland, single-family and multi-family sales have been steady, although the condominium market is slower.<\/p>\n
\u201cWe\u2019re finally seeing the kind of balance that many have been waiting for,\u201d said Derrick Buckspan, a broker and owner of RE\/MAX Shoreline,\u00a0which has offices in Portland, Falmouth and Portsmouth, N.H.\u00a0<\/p>\n
He added, \u201cThis is a pivotal turning point after several years of highly constrained supply.\u201d<\/p>\n
Following is a comparison of Q3 2025 with Q3 2024.<\/p>\n
Cumberland County<\/p>\n
Single-family homes<\/p>\n
\tMedian sales price: $$605,000, up 4.5% compared to $579,000 a year ago
\n\tMedian days on market: nine, compared to eight a year ago
\n\tNew listings: 1,277, up from\u00a01,153\u00a0
\n\tNumber of sales: 1,023, up\u00a0 from 925\u00a0
\n\tPercentage of list price received: 100.6%, down from 101.5%\u00a0<\/p>\n
Condos\u00a0<\/p>\n
\tMedian sales price: $525,000, compared to $528,953 a year ago
\n\tMedian days on market: 15, up from 8\u00a0
\n\tNew listings: 336, up from 307\u00a0
\n\tNumber of sales: 231, down from 260\u00a0
\n\tPercentage of list price received: 100%, down from\u00a0101.4%\u00a0<\/p>\n
Multifamily\u00a0<\/p>\n
\tMedian sales price: $692,250, down from $719,000
\n\tMedian days on market: 12, no difference\u00a0
\n\tNew listings: 125, up from\u00a084\u00a0
\n\tNumber of sales: 56, up from 49
\n\tPercentage of list price received: 99.6%, down from 101.7%\u00a0<\/p>\n
\u201cCumberland County continues to outperform most other regions in Maine,\u201d Buckspan said. \u201cWe\u2019re seeing strong sales growth despite a small rise in time on market, which tells us the demand foundation here remains solid. The slight dip in pricing for condos and multi-family properties reflects normalization, not weakness.\u201d\u00a0<\/p>\n
York County<\/p>\n
Single-family homes\u00a0<\/p>\n
\tMedian sales price: $$550,000, up from $527,250\u00a0
\n\tMedian days on market: 15, up from 9\u00a0
\n\tNew listings: 996, up from 980\u00a0
\n\tNumber of sales: 796, up from 722\u00a0
\n\tPercentage of list price received: 99.0%, down 1.3% compared to 100.3%\u00a0<\/p>\n
Condos\u00a0<\/p>\n
\tMedian sales price: $420,000, up from\u00a0$415,000\u00a0
\n\tMedian days on market: 18, up from\u00a012\u00a0
\n\tNew listings: 286, up from\u00a0276\u00a0
\n\tNumber of sales: 215, up from 181\u00a0
\n\tPercentage of list price received: 99.2%, down 0.3% compared to 99.5%\u00a0<\/p>\n
Multifamily\u00a0<\/p>\n
\tMedian sales price: $545,000, up from\u00a0$515,000\u00a0
\n\tMedian days on market: 12, up from 8\u00a0
\n\tNew listings: 74, up from\u00a067\u00a0
\n\tNumber of sales: 37, down from\u00a043\u00a0
\n\tPercentage of list price received: 96.2%, down 2.5% compared to 98.7%\u00a0<\/p>\n
\u201cYork County\u2019s growth in both single-family and condo transactions shows that buyers are adjusting to market realities,\u201d said Buckspan.<\/p>\n
Portland<\/p>\n
Single-family homes<\/p>\n
\tMedian sales price: $625,000, up from\u00a0$614,750 \u00a0
\n\tMedian days on market: 10, up from\u00a07\u00a0
\n\tNew listings: 135, down from 160\u00a0
\n\tNumber of sales: 125, up from 122\u00a0
\n\tPercentage of list price received: 99.6%, down 2.3% compared to 102%\u00a0<\/p>\n
Condos\u00a0<\/p>\n
\tMedian sales price: $577,500, down from $609,000\u00a0
\n\tMedian days on market: 15, up from\u00a09\u00a0
\n\tNew listings: 135, up from\u00a0123\u00a0
\n\tNumber of sales: 76, down from\u00a0116\u00a0
\n\tPercentage of list price received: 99.1%, down 1.9% compared to 101%\u00a0<\/p>\n
Multifamily<\/p>\n
\tMedian sales price: $840,000, up from $792,500\u00a0
\n\tMedian days on market: 18, up from\u00a011\u00a0
\n\tNew listings: 59, up from\u00a041\u00a0
\n\tNumber of sales: 29, down from 30\u00a0
\n\tPercentage of list price received: 100%, up 0.8% compared to 99.2%\u00a0<\/p>\n
\u201cPortland remains incredibly stable, particularly in the single-family and multi-family segments,\u201d said Buckspan. \u201cThe condo slowdown is primarily driven by buyer caution at the higher end of the market, but overall activity remains healthy.\u201d<\/p>\n
Statewide\u00a0<\/p>\n
Single-family<\/p>\n
\tMedian sales price: $410,000, up from\u00a0$400,000\u00a0
\n\tMedian days on market: 15, up from 11\u00a0
\n\tNew listings: 6,905, up from 6,099\u00a0
\n\tNumber of sales: 4,873, up from 4,557\u00a0
\n\tPercentage of list price received: 98.4%, down 0.8% compared to 99.2%\u00a0<\/p>\n
Favorable mortgages<\/p>\n
The mortgage market is becoming increasingly favorable for buyers, according to Jim Collins of CMG Home Loans, a California mortgage bank.<\/p>\n
\u201cRates have finally started to ease after a long stretch of volatility,\u201d Collins said. \u201cWe\u2019ve already seen the first drop this fall, and two additional rate cuts are anticipated before the end of the year.\u201d<\/p>\n
Buckspan agreed.\u00a0<\/p>\n
\u201cLower borrowing costs paired with a growing inventory is the recipe for renewed market movement,\u201d he said.\u00a0<\/p>\n
Buckspan said he expects the market to continue is momentum in Q4.<\/p>\n
\u201cWe\u2019re seeing healthier competition, more options and more opportunity for everyone involved in the market,\u201d he said.<\/p>\n","protected":false},"excerpt":{"rendered":"More buyers are emerging from the woodwork as prices moderate in the southern Maine residential real estate market,…\n","protected":false},"author":2,"featured_media":82306,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[12],"tags":[72,61,60,123],"class_list":["post-82305","post","type-post","status-publish","format-standard","has-post-thumbnail","category-markets","tag-business","tag-ie","tag-ireland","tag-markets"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts\/82305","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/comments?post=82305"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts\/82305\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/media\/82306"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/media?parent=82305"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/categories?post=82305"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/tags?post=82305"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}