2021 MID-YEAR REPORT
STAIRSTEP - that is the word that clearly comes to mind looking at the chart below. For three of the counties in Southern Maine, that trend describes the housing prices so far this year. Up and up and up. Which is a contrast to the rollercoaster of 2021 when sales plummeted during the initial phase of the pandemic only to rebound dramatically. The sales prices in York, Cumberland, and Androscoggin Counties have been marching to a steady pace this year. In January, the median price of a home in York was $360,000, and by June it was $390,000. In Androscoggin County, home of Maine’s L-A (Lewiston-Auburn) the prices went from $206,000 to $240,000. However, Cumberland wins the drama award with the median home price increasing from $373,250 to $450,000. The type of homes in Cumberland County sold did not change much, from a median of 1,772 sqft to 1,887 sqft. They sold in half the time, from 10 days to only 5 days on market. Mortgage payments went up by hundreds, but the money made by sellers went up by $34,000 in Androscoggin, by $30,000 in York, and a whopping $76,000 in Cumberland County. To call this a seller’s market is an understatement. Swmc-Admin. “Home Sales Statistics & Press Releases.” Maine Association of REALTORS. Accessed July 1, 2021. https://www.mainerealtors.com/news/home-sales-statistics-press-releases/.