Published 01/15/20 Industry News

Cumberland County's average sale price for 2019 reached $380,495, representing a 6.23% increase from 2018. Looking back to 2015, the 5 year average sale price has risen a total of $82,284 for this area, representing a 27.63% increase for this period. During this same 5 years, the average DOM (Days on Market) has decreased, with residential properties selling, on average, 34 days faster in today’s market. Property listings for 2019 stayed on the market for an average of 42 days, 6 days faster than the prior year. Meanwhile, the number of sold listings has remained steady, ranging from 5,090 to 5,225 over the course of 5 years. 

Moving forward to 2020, we expect the market to remain stable. The desirability of Portland as a destination city and Cumberland County as a support community keeps us optimistic for the future. 

 

Maine

marketBased on information from the Maine Real Estate Information System, Inc. (d/b/a Maine Listings) for the period 01/01/2015 through 12/31/19.