Maine Housing Report for 2020

 In Business, Market Report

Today brings numbers from the Maine Assoc. of Realtors that help explain the Maine real estate market in the memorable year of 2020. The numbers speak loudly: statewide, the number of homes sold in Maine rose 9.8% above what was already the record breaking year of 2019. For statewide values in 2020, the median price of a home in Maine ended up at $256,000, which is a 13.8% rise from the median price of a Maine home in 2019. Both of these figures are all time highs for Maine, defining 2020 as the most active year for real estate ever in the 207. Imagine that? Not at all what most of us had anticipated way back in March. On nearer shores, Hancock County saw a 22.6% leap in the number of homes sold in 2020 (1,048) and a 20.1% rise in median value, reaching $273,316. Hancock County sits in 5th place for highest cost of homes among the 16 counties of Maine, which is about average, generally being the 4th or 5th most expensive county in the state. 2020 was a wild ride, with lots of smiling sellers and many more frustrated buyers. All signs point to more of the same in 2021. What will be more interesting to watch unfold, much more so than stats & figures on Maine real estate, will be how all the new faces in our state fit in and what becomes of the communities we love & call “home”. In our experience, very few new Mainers arrive here without a passion and fondness for the state. To us, this points to positive changes ahead. Yessah.

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