June 2020 Real Estate Numbers Are In!

"The number of sales of single-family homes in Maine is down slightly in June but prices remain on the rise. Realtors across the state sold 1,720 homes in June — 78 fewer homes than a year ago — a 4.3% decrease compared to June 2019. The Median Sales Price (MSP) for homes sold in June reached $249,000, an increase of 4.15% compared to June 2019. The MSP indicates that half of the homes were sold for more and half sold for less." according to Elisabeth Altshuler of Maine Listings. 

Here in York County the number of units sold reflect the lack of inventory we're seeing locally with sales down by -18.29% from April, 1 2020  to June 30, 2020. Prices are up in York County by  6.53% which reaffirms that we're in strong sellers market. 

“As Maine navigates COVID-19, our real estate industry has adapted,” says Tom Cole, 2020 president of the Maine Association of REALTORS® “The June statistics show improvement and indicate that sellers, buyers, and our industry partners are adjusting to Maine’s health and safety protocols and have growing confidence to transact real estate business.

Nationally, sales decreased 9.9% in June 2020 compared to June 2019. According to the National Association of Realtors, sales of existing homes across the country eased 9.9%, while the National MSP rose 3.5% in June to $298,600. Realtors in the regional Northeast reported a sales dip of 27.9% comparing June 2020 to June 2019, while the regional MSP increased 3.6% to $332,900. 

“Historically, 75% of buyers of single-family homes in Maine are from Maine, followed by seven percent from Massachusetts and four percent from New Hampshire,” adds Cole. “This buyer zip code data remained consistent for second quarter 2020 as the pandemic began unfolding. Maine offers a quality of life that appeals to those living in highly populated and more congested areas of the U.S. We’ll be watching for these trends and will welcome new residents to Maine.”

Below are two charts showing statistics for Maine and its 16 counties. The first chart lists statistics for the month of June 2019 and 2020 only, statewide. The second chart compares the number of existing, single-family homes sold (units) and volume (MSP) during the rolling quarter of April, May and June of 2019 and 2020.

Rick & Pam Coyne Broker/Owners