Maine home sales surge 7% in June, median price hits record $436,000

June saw a strong rebound in Maine’s housing market. The Maine Association of Realtors reported a 7.31% increase in the number of homes sold compared with a year earlier, with 1,156 (or 1,556 according to later data) transactions recorded. The median sale price rose to a new all‑time high of $436,000, up 2.6% from the previous month and surpassing the national median.

Inventory also expanded, reaching 5,667 homes on the market – the highest statewide level since July 2020. Western counties posted the steepest price gains, with Oxford and Franklin counties up about 18% and 16.5% year‑over‑year. County‑by‑county data showed median prices above $600,000 in coastal areas such as Cumberland and York, while more rural counties remained under $300,000.

Notable individual transactions included a nearly $7 million coastal home in Kennebunk, the $58 million Press Hotel sale in Portland, and Bangor’s most expensive week‑long sale at $780,000. The surge in listings gave buyers more choices and softened market competition, though experts warn that sustained price growth will require continued inventory expansion.