Real estate sales in Maine hit historic highs in 2020 with more units sold and for on average more money than ever before.
Despite the ravages of the COVID pandemic latest figures from the Maine Association of Realtors (MAR) and Maine Listings reveal an unprecedented picture.
Home sales were up by 9.82% year on year in 2020 and the median sales price (MSP) up by 13.78%. The MSP indicates that half of homes were sold for more and half sold for less.
There were 19,921 transactions last year compared to 18,140 in 2019 with an MSP of $256,000 compared to $225,000 a year ago. The statistics are the highest since records began 20 years ago according to MAR.
During the month of December, sales across the state of Maine were up 31.53% compared to December 2019, and the statewide MSP of $270,00 represents an increase of 15.38% from the previous year.