The May 2024 Market Review for single-family residences in Cumberland County, Maine, highlights a vibrant real estate market. The median sales price was $580,000, an increase of 3.4% from April 2024 and a steady rise of 6.4% from May 2023. Closed sales jumped to 241, a significant increase of 32.4% from the previous month, though the median days on the market was 6 days, a decrease of 14.3% from the previous month, indicating a trend towards quicker sales. Sellers received an average of 103.2% of their list prices, a slight increase from April of 0.2%, reinforcing the market's competitive nature.
The May 2024 Market Review for condominiums in Cumberland County, Maine, reveals a dynamic real estate market. The median sales rose to $500,000, an increase of 13.6% from April 2024 and an 11.1% rise over May 2023. There were 64 closed sales for the month of May, which is a notable increase of 12.3% from the previous month, while the median days on the market remained steady at 8 days, indicating a trend towards quicker sales. Sellers received an average of 100.4% of their list prices, showing properties are still selling at or slightly above asking prices. The sold price per square foot rose to $438, a significant increase of 24.8% from April 2024.
Click the link to see the full report: May 2024 Market Report
Have additional questions about the Cumberland County real estate market? Contact an expert Maine real estate agent at Town and Shore.
