Maine Monthly Market Update

April 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 $372,583, with coastal and urban areas seeing the highest values.

Key Regional Trends

• Auburn / Lewiston reported a median sale price of $316,917, up from $285,817 in 2024 and $268,833 in 2023.

• Bangor recorded $272,000, compared to $259,069 in 2024 and $269,383 in 2023.

• Cumberland County reached $541,667, rising from $526,167 in 2024 and $486,167 in 2023.

• Kennebec County posted $305,833, following $281,667 in 2024 and $269,500 in 2023.

• York County recorded a median of $445,667, up from $436,767 in 2024 and $417,100 in 2023.

• Portland came in at $570,000, lower than $657,290 in 2024 but above $499,333 in 2023. This year-over-year dip likely reflects a statistical effect of rolling median calculations rather than a true decline in market value.

Price Reductions on the Rise

Across Maine, the share of homes sold after a price reduction during the February–April 2025 period has shown a meaningful shift compared to prior years, suggesting sellers may be more responsive to pricing feedback amid evolving market dynamics.

Statewide

  • In 2025 (rolling average from February to March), 28.6% of closed sales involved a price reduction — up from 25.3% in 2023 and significantly higher than the low point of 16.2% in 2022.

  • This marks a return closer to pre-pandemic norms, like 37.4% in 2019 and 32.9% in 2020, signaling a normalization in seller behavior and pricing strategy.

Regional Highlights

  • Androscoggin County: 35.6% of sales had a price reduction (up from 30.1% in 2024).

  • Cumberland County: 33.4%, compared to 31.3% in 2024.

  • York County: 31.6% in 2025, maintaining its upward trend.

  • Penobscot County: 41.2% — one of the highest statewide.

  • Franklin and Washington Counties: Both saw rates above 40%, among the top across Maine.

Inventory Trends Suggest Shifting Conditions Across Maine

New data from April 2025 shows continued shifts in Maine’s housing market as inventory levels build and seller activity continues to recover from pandemic-era lows. While it remains a seller’s market in most areas, what’s changing is the degree — with signs of softening competition, more time on market, and growing inventory levels giving buyers slightly more leverage than in recent years.

New Listings Rise in Most Markets

New listing activity statewide averaged 1,724 new listings per month, up from 1,524 in 2024 and 1,321 in 2023 — though still below pre-pandemic levels like 2,030 in 2019. This trend is visible across many counties:

  • Cumberland County had 377 new listings, up 15% from 2024.

  • York County added 355, up nearly 18% year-over-year.

  • Kennebec (136) and Androscoggin (93) also saw consistent gains.

The increase suggests sellers are reentering the market, likely encouraged by stable pricing conditions and improving market sentiment.

Months of Inventory Continues to Expand

The statewide months of inventory reached 3.6 months in early 2025 — the highest level since 2020. While still historically low, this is a meaningful increase from 2.7 in 2024 and 2.5 in 2023, indicating that homes are taking longer to sell and that buyer options are growing.

  • Franklin, Hancock, Piscataquis, and Washington Counties all exceeded 5 months of inventory, reflecting a slower pace of sales relative to active listings.

  • Urban markets such as Portland (2.6) and Auburn/Lewiston (1.9) remain tighter, but even they are trending upward from their ultra-low inventory levels in prior years.

Active Listings Reach Multi-Year Highs

Statewide, active listings averaged 3,778 this spring — the highest since 2020 and a 27% increase over 2024. Several counties saw notable year-over-year gains:

  • Cumberland County reached 525 active listings, up from 414 the year before.

  • York County posted 598, its highest spring average since 2021.

  • Smaller counties like Waldo, Sagadahoc, and Piscataquis also saw significant increases, a sign that inventory expansion is not limited to the major markets.

Overall, the market still favors sellers, but conditions are shifting. Buyers now have more homes to choose from and a bit more time to act, while sellers may need to approach pricing with more precision to stand out in a more crowded spring landscape.

As we move through spring 2025, Maine’s housing market continues to show signs of evolution. While it remains a seller’s market overall, recent data highlights a steady increase in inventory, a rebound in new listings, and a growing share of homes closing with price reductions. These shifts signal more options for buyers and a need for pricing precision among sellers. Market conditions still vary by region, but the statewide trends suggest a gradual return to more typical seasonal dynamics after several years of volatility.