PORTLAND, ME (December 21, 2021) – Legacy Properties Sotheby’s International Realty, Maine’s leading luxury property company, with offices in Portland, Kennebunk, Brunswick, Damariscotta, Camden, and Northeast Harbor, announces that demand remains strong for existing single family homes in Maine, while for-sale inventory is lower than a typical, balanced real estate market. According to statistics released by Maine Listings, sales eased 7.99 percent in November while prices increased 11.11 percent compared to November 2020. The median sales price (MSP) reached $300,000, compared to $270,000 in November of last year. The MSP indicates that half of the homes were sold for more and half sold for less. “Despite the lower sales volume last month and during the second half of 2021, January through November 2021 was one of Maine’s best, with the number of residential real estate transactions 4.1 percent above the comparable time period in 2020, Maine’s historical high. The 2021 figures are 12.3 percent higher than the comparable time period of 2019, prior to the pandemic,” says Aaron Bolster, Broker/Owner of Allied Realty in Skowhegan and 2021 President of the Maine Association of REALTORS. “The high demand for Maine residential real estate is stymied by the tight supply of homes for sale across our state. “There were 33 percent fewer homes for sale in November 2021 than November 2020 and 59 percent fewer than November 2019. With a six-month supply of for sale inventory as the benchmark for a balanced real estate market, our current numbers indicate a 1.7-month supply.” The National Association of Realtors today reported a 2.2 percent decrease in single-family home sales across the country comparing November 2021 to November 2020. Prices rose 14.9 percent to a national MSP of $362,600. Regionally, sales in the Northeast decreased 11.6 percent and the MSP of $372,500 reflects a 4.7 percent increase in November 2021 compared to November a year ago. “Move-in ready homes are in extremely high demand and qualified buyers are ready to purchase. We expect a solid finish to 2021,” says Bolster. Below are two charts showing statistics for Maine and its 16 counties. The first chart lists statistics for the month of November 2020 and 2021 only, statewide. The second chart compares the number of existing, single-family homes sold (units) and volume (MSP) during the rolling three months of September, October and November (2020/2021). Legacy Properties Sotheby’s International Realty can be reached at 207-780-8900 and [email protected]. Legacy Properties Sotheby’s International Realty, with offices in Portland, Kennebunk, Brunswick, Damariscotta, Camden, and Northeast Harbor, is Maine’s leading luxury and lifestyle property company with more than 80 agents and six offices serving Maine coastal communities from York County to Hancock County as well as Seacoast New Hampshire. Offices Located at: 2 City Center, Portland, ME 04101 // 207.780.8900 (Greater Portland Maine Real Estate) 150 Port Road, Kennebunk, ME 04043 // 207.967.0934 (Southern Maine and Seacoast New Hampshire Real Estate) 141 Maine Street, Brunswick, ME 04011 // 207.729.2820 (Mid Coast Maine Real Estate) 170 Main Street, Damariscotta 04543 // 207.563.2775 (Boothbay Harbor, Damariscotta and Bristol Regions Real Estate) 46 Bay View Street, Camden, ME 04843 // 207.230.1003 (Camden, Rockport, and Knox and Waldo County Real Estate) 6 Neighborhood Road, Northeast Harbor, ME 04662 // 207.780.8900 (Mount Desert Island, Hancock and Washington County Real Estate)