Maine real estate trends (May 2022)
How is the real estate market in Maine?
🏠 Average home value: $355,407
📈 1.15% home value increase month over month
💰 Median sale price: $309,100
⏳ 57 days on the market
🔑 Homes on the market: 1,553
📆 2.7 months of housing inventory
🏦 30-year mortgage rate: 3.14%
💵 Average income: $49,469
State of the market: B+
Home values and listing prices are on the rise in Maine, which bodes well for sellers. However, the state does have enough inventory to absorb buyer demand, so it remains to be seen where this market is heading.
*Data last updated May 2022
Lobster rolls, wild blueberry pie, and seafood chowder are just a few of the delicacies you might encounter in Maine.
The Pine Tree State has a stunning natural landscape that ranges from sandy beaches to shining lakes to rugged mountains. It's also the most heavily forested state, with 83% of its land covered by trees.
Residents and visitors alike can enjoy Maine's many quaint, rural towns, or embark to Portland for fine dining, shopping, and more.
If you're thinking of buying or selling in Maine, these Maine housing predictions and stats can help you make an informed decision.
Want to save money when you buy or sell your home? With Clever, you'll only pay 1% or $3K in listing fees. Eligible buyers get 0.5% cash back after closing. Find out how much you can save with Clever today!
Selling a home in Maine
Maine real estate market forecast for sellers
⏰ Homes are selling 0 days slower than the annual average
💰 Homes are selling for $25,833 more than the annual average
💸 Average listing commission: 3.00%
💸 Average buyer's commission: 2.50%
How to sell a home in Maine
- The Best Low Commission Real Estate Brokers
- 8 Steps to Selling a House in Maine
- How to Sell a House By Owner in Maine (2021 Update)
- 2 Best Maine Flat-Fee MLS Companies in 2021
- 5 Maine We Buy Houses for Cash Companies & Alternatives (2021 Rankings)
- What's The Average Maine Real Estate Commission In 2021?
Cost to sell a home in Maine
- Maine Seller Closing Costs in 2021: How Much Will You Pay?
- The Ultimate Guide to Maine Real Estate Taxes
Buying a home in Maine
How much home you can buy with $300,000 in...
🏠 Portland: 940 sq ft
🏡 Augusta: 2,143 sq ft
🏡 Bangor: 2,027 sq ft
🏠 Lewiston: 1,724 sq ft
- How to Save with a Home Buyer Rebate
- 8 Definitive Steps to Buying a House in Maine
- The 5 Most Affordable Places to Live In Maine
- The Best Time to Buy a House in Maine
- Everything You Need to Know About Moving to Maine
Investing in Maine real estate
- Top 5 Best Real Estate Investment Markets in Maine
- A Beginner's Guide to Buying an Apartment Building
Best of Maine
Each month, we compare cities in Maine based on different criteria. This month, we're looking at affordability and ranking the best cities in the state.
Most Affordable Cities in Maine
Worst of Maine
Each month, we compare cities in Maine based on a different criteria. This month we're looking at affordability data. These are the cities that ranked the worst in the state.
Least Affordable Cities in Maine
1. Portland-South Portland
- Maine Real Estate Commission
- Maine's real estate license verification
- Maine's real estate agent code of conduct
- Maine's disclosure forms
- Transfer taxes in Maine
- Home buying assistance programs in Maine
Frequently asked questions about Maine real estate
It is currently a seller's market in Maine, but this could be changing. Properties are sitting for longer periods and inventory is building up, giving buyers some leverage to negotiate a lower price than what’s listed. However, each local area has its own trends, so it’s best to consult with a real estate agent to help guide you with your decisions.
Investing in Maine real estate is a good idea, especially in more populous areas like Portland. But if you want to make the most out of your investment, you first need to find the best neighborhood to buy in and create a solid property management plan. Read our guide to real estate investing to find out more.
Now might not be an ideal time to purchase a house in Maine. Listing prices and mortgage rates in the state are much higher than normal, so you’ll need the help of a skilled real estate agent if you want to get a good deal.
Clever's analysis of state market trends is based on local data from Zillow, realtor.com, Redfin, S&P Global, the U.S. Census, and Clever surveys. Our team of over 20 real estate analysts from across the country research local markets and data to compile our "Best" and "Worst" rankings.