Maine Real Estate Market

Statewide Market Overview

The average home value in Maine is approximately $412,200, with a modest increase over the past year. The median sale price is around $370,000, while the median list price is about $414,600. Homes are typically going under contract in about two weeks, indicating steady demand in most areas of the state.

Market Dynamics

Earlier in 2025, Maine saw minor monthly price declines, though values remained higher than they were in early 2024. Inventory levels have increased by over 10% year-over-year, giving buyers more options and gradually shifting the market toward balance. This change suggests a move away from the aggressive seller's market of recent years.

Regional Highlights

• Portland: Home prices in Portland continue to rise, with single-family homes reaching median sale prices over $560,000. Despite the higher prices, sales volume has slightly declined, and homes are spending more time on the market than in the previous year.
• Southern Maine: Counties such as York and Cumberland, long popular for second-home buyers, have seen a noticeable increase in listings. This trend is partly due to owners choosing to cash in on high home values and changing personal or economic circumstances.

Affordability and Housing Policy

Maine's housing affordability remains a concern, with the average home price requiring over five years of median household income to purchase. In recent years, the state has implemented policy changes to allow more housing density, aiming to increase the housing supply and address affordability and availability challenges.

Rental Market

Rental prices across Maine continue to climb, with middle-income households facing growing affordability pressure. Rent burdens have increased significantly for households earning between $35,000 and $75,000 annually, particularly in more populated areas where demand remains strong.

Outlook

The Maine housing market is stabilizing in 2025. Rising inventory and more moderate price growth suggest a move toward a more balanced environment for both buyers and sellers. While affordability issues persist, ongoing efforts to expand housing development may provide some relief in the years ahead.