Top Mega Teams in Maine – Ranked by Volume

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    • Rank – State VolumeTeam NameCompanyLocationVolumeProfile
    2Fontaine TeamFontaine Family The Real Estate Leader Auburn, ME$147,547,366View Profile
    6The Ireland GroupRE/MAX CollaborativeLincoln, ME$65,058,050View Profile

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    2023 Maine Housing Market Summary

    Maine started 2023 with a total of 1,453 single-family homes on the market, with a median home price of $364,900 and an average price per square foot of $263. By the end of the year, inventory had increased to 1,836 homes on the market (+26%), with a median home price of $412,950 (+13%) and an average price per square foot of $307 (+16%).

    At the start of 2023, the median days on market (DOM) was 91 days – by the end of the year, median DOM had decreased to 77 days.

    Maine started the year with 30% of homes taking a price cut (for reference, 35% is the national average for price reductions in a ‘normal’ year.) By the end of the year, about 32% of Maine homes for sale had taken a price cut.

    Finally, Altos’ proprietary Market Action Index (MAI) shows that Maine started 2023 as a strong seller’s market, with an MAI score of 50; by the end of the year, the MAI had dropped to 35 – a slight seller’s advantage.

    This market summary is powered by Altos Research – click here to run a free report for your area.

    Housing Market News

    AdobeStock_250556333

    Lower mortgage rates attracting more homebuyers 

    Sep 16, 2024By

    An often misguided premise I see on social media is that lower mortgage rates are doing nothing for housing demand. That’s ok — very few people are looking at the data without an agenda. However, the point of this tracker is to show you evidence that lower rates have already changed housing data. So, let’s […]

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