MONTHLY MARKET REPORTS
CUMBERLAND COUNTY, MAINE
Prior Month Comparison: (February 2024 vs. January 2024)
► Pricing:
♦ The median list price decreased slightly from $605,000 in January 2024 to $599,999 in February 2024, a decrease of 0.84%.
♦ The median sale price remained consistent at $525,000 in both months.
► Inventory:
♦ Active listings increased by 8.6% from 379 in January 2024 to 379 in February 2024.
♦ New listings increased by 9.5% from 231 in January 2024 to 253 in February 2024.
♦ Sold listings decreased by 9.2% from 190 in January 2024 to 174 in February 2024.
► Market Activity:
♦ The median days on market (DOM) increased significantly from 18 days in January 2024 to 28 days in February 2024, an increase of 55.56%.
Key Takeaways:
■ Despite a slight decrease in median list price, the real estate market in Cumberland County remained relatively stable between January and February 2024.
■ Inventory levels increased slightly, with new listings showing a positive trend.
■ The median DOM saw a significant increase, which could indicate a shift in buyer behavior or a potential cooling of the market.
Prior Year Comparison: (February 2024 vs. February 2023)
► Pricing:
♦ The median list price increased by 2.56% from $585,000 in February 2023 to $599,999 in February 2024.
♦ The median sale price increased by 8.58% from $483,500 in February 2023 to $525,000 in February 2024.
► Inventory:
♦ Active listings increased slightly by 8.6% from 349 in February 2023 to 379 in February 2024.
♦ New listings decreased slightly by 1.8% from 448 in February 2023 to 440 in February 2024.
♦ Sold listings increased slightly by 1.3% from 381 in February 2023 to 386 in February 2024.
► Market Activity:
♦ The median DOM increased significantly from 15 days in February 2023 to 28 days in February 2024, an increase of 86.67%.
Key Takeaways:
■ Compared to February 2023, the Cumberland County real estate market in February 2024 showed continued growth in median sale price, with a slight increase in median list price.
■ While there was a slight decrease in new listings, both active listings and sold listings saw a positive increase year-over-year.
■ Similar to the month-over-month comparison, the median DOM in February 2024 was significantly higher than in February 2023.
Overall Summary:
The Cumberland County real estate market exhibited some interesting trends in February 2024. While pricing remained relatively stable month-over-month, there was a significant increase in median DOM compared to January 2024. However, year-over-year comparisons showed continued growth in median sale price and positive changes in both active listings and sold listings.
It is important to note that these are just a few data points, and a more comprehensive analysis would be needed to draw definitive conclusions about the market's overall health.
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CUMBERLAND, MAINE
Prior Month Comparison: (February 2024 vs. January 2024)
► Pricing:
♦ The median list price increased by 8.69% from $614,000 in January 2024 to $694,500 in February 2024.
♦ The median sale price decreased by 39.39% from $750,000 in January 2024 to $663,750 in February 2024.
► Inventory:
♦ Active listings decreased by 67.3% from 49 listings in January 2024 to 16 listings in February 2024.
♦ New listings increased by 14.3% from 7 listings in January 2024 to 8 listings in February 2024.
♦ Sold listings decreased by 62.5% from 10 listings in January 2024 to 3 listings in February 2024.
► Market Activity:
♦ The median days on market (DOM) decreased by 47.62% from 22 days in January 2024 to 12 days in February 2024.
Key Takeaways:
■ Despite an increase in median list price, the median sale price of homes in Cumberland, Maine decreased significantly from January to February 2024.
■ There was a substantial decrease in active listings and sold listings, while new listings saw a slight increase.
■ The median DOM decreased significantly, indicating a faster selling market in February compared to January.
Prior Year Comparison: (February 2024 vs. February 2023)
► Pricing:
♦ The median list price increased by 10.14% from $639,000 in February 2023 to $694,500 in February 2024.
♦ The median sale price decreased by 46.33% from $1,237,500 in February 2023 to $663,750 in February 2024.
► Inventory:
♦ Active listings decreased by 54.8% from 62 listings in February 2023 to 28 listings in February 2024.
♦ New listings increased by 12.5% from 7 listings in February 2023 to 8 listings in February 2024.
♦ Sold listings decreased by 9.1% from 11 listings in February 2023 to 10 listings in February 2024.
► Market Activity:
♦ The median DOM decreased by 47.62% from 42 days in February 2023 to 22 days in February 2024.
Key Takeaways:
■ While the median list price increased slightly year-over-year, the median sale price of homes in Cumberland, Maine decreased significantly from February 2023 to February 2024.
■ There was a substantial decrease in active listings and sold listings, while new listings saw a slight increase.
■ The median DOM decreased significantly, indicating a faster selling market in February 2024 compared to February 2023.
Overall Summary:
The Cumberland, Maine real estate market saw a significant shift from January 2024 to February 2024, with a decrease in median sale price and a decrease in both active listings and sold listings. While the median list price increased slightly year-over-year from February 2023 to February 2024, the median sale price also saw a significant decrease.
The decrease in DOM suggests a faster selling market in February compared to both January 2024 and February 2023. It is important to note that this is a small data set and may not be representative of the entire market.
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FALMOUTH, MAINE
Prior Month Comparison: (February 2024 vs. January 2024)
► Pricing:
♦ The median list price increased by 3.94% from $950,000 in January 2024 to $987,000 in February 2024.
♦ The median sale price increased by 8.62% from $1,045,000 in January 2024 to $1,135,000 in February 2024.
► Inventory:
♦ Active listings decreased by 29.41% from 22 listings in January 2024 to 15 listings in February 2024.
♦ New listings increased by 13.33% from 15 listings in January 2024 to 17 listings in February 2024.
♦ Sold listings increased by 75% from 8 listings in January 2024 to 14 listings in February 2024.
► Market Activity:
♦ The median days on market (DOM) decreased by 70.83% from 47 days in January 2024 to 14 days in February 2024.
Key Takeaways:
■ The median list price and sale price both increased slightly from January to February 2024.
■ There was a decrease in active listings, while new listings and sold listings both increased.
■ The median DOM decreased significantly, indicating a faster selling market in February compared to January.
Prior Year Comparison: (February 2024 vs. February 2023)
► Pricing:
♦ The median list price increased by 26.7% from $779,000 in February 2023 to $987,000 in February 2024.
♦ The median sale price increased by 65.21% from $687,000 in February 2023 to $1,135,000 in February 2024.
► Inventory:
♦ Active listings decreased by 55.88% from 62 listings in February 2023 to 27 listings in February 2024.
♦ New listings increased by 142.86% from 7 listings in February 2023 to 17 listings in February 2024.
♦ Sold listings decreased by 8.33% from 12 listings in February 2023 to 11 listings in February 2024.
► Market Activity:
♦ The median DOM decreased by 67.86% from 42 days in February 2023 to 14 days in February 2024.
Key Takeaways:
■ Both the median list price and sale price increased significantly year-over-year from February 2023 to February 2024.
■ There was a substantial decrease in active listings, while new listings increased significantly. Sold listings saw a slight decrease.
■ The median DOM decreased significantly, indicating a much faster selling market in February 2024 compared to February 2023.
Overall Summary:
The Falmouth, Maine real estate market saw a significant shift from January 2024 to February 2024, with increases in both median list price and median sale price. There was also a decrease in active listings and an increase in both new listings and sold listings.
Compared to February 2023, February 2024 saw significant increases in both median list price and median sale price. There was also a substantial decrease in active listings, while new listings increased significantly. Sold listings saw a slight decrease.
The median DOM decreased significantly in both comparisons, indicating a much faster selling market in February 2024 compared to both January 2024 and February 2023. It is important to note that this is a small data set and may not be representative of the entire market.
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NORTH YARMOUTH, MAINE
Prior Month Comparison: (February 2024 vs. January 2024)
► Pricing:
♦ The median list price decreased by 3.9% from $614,000 in January 2024 to $590,000 in February 2024.
♦ The median sale price decreased by 14.19% from $629,292.50 in January 2024 to $541,950 in February 2024.
► Inventory:
♦ Active listings decreased by 67.3% from 16 listings in January 2024 to 5 listings in February 2024.
♦ New listings decreased by 57.14% from 7 listings in January 2024 to 3 listings in February 2024.
♦ Sold listings decreased by 50% from 6 listings in January 2024 to 3 listings in February 2024.
► Market Activity:
♦ The median days on market (DOM) decreased by 30.77% from 16 days in January 2024 to 11 days in February 2024.
Key Takeaways:
■ Both the median list price and sale price decreased slightly from January to February 2024.
■ There was a significant decrease in all three-inventory metrics: active listings, new listings, and sold listings.
■ The median DOM decreased slightly, indicating a similar selling pace in February compared to January.
Prior Year Comparison: (February 2024 vs. February 2023)
► Pricing:
♦ The median list price increased by 10.14% from $539,000 in February 2023 to $590,000 in February 2024.
♦ The median sale price decreased by 14.59% from $630,250 in February 2023 to $541,950 in February 2024.
► Inventory:
♦ Active listings decreased by 54.84% from 31 listings in February 2023 to 14 listings in February 2024.
♦ New listings decreased by 57.14% from 7 listings in February 2023 to 3 listings in February 2024.
♦ Sold listings decreased by 50% from 6 listings in February 2023 to 3 listings in February 2024.
► Market Activity:
♦ The median DOM decreased by 64.29% from 31 days in February 2023 to 11 days in February 2024.
Key Takeaways:
■ The median list price increased slightly year-over-year from February 2023 to February 2024, while the median sale price decreased.
■ There was a substantial decrease in all three-inventory metrics: active listings, new listings, and sold listings.
■ The median DOM decreased significantly, indicating a much faster selling market in February 2024 compared to February 2023.
Overall Summary
The Cumberland, Maine real estate market saw a slight decrease in both median list price and median sale price from January 2024 to February 2024. There was also a significant decrease in all three-inventory metrics, indicating a decrease in overall market activity.
Compared to February 2023, February 2024 saw a slight increase in median list price and a decrease in median sale price. There was also a substantial decrease in all three-inventory metrics, and the median DOM decreased significantly. It is important to note that this is a small data set and may not be representative of the entire market.
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YARMOUTH, MAINE
Prior Month Comparison: (February 2024 vs. January 2024)
► Pricing:
♦ The median list price decreased by 11.49% from $861,500 in January 2024 to $787,500 in February 2024.
♦ The median sale price increased by 2.42% from $537,000 in January 2024 to $550,000 in February 2024.
► Inventory:
♦ Active listings decreased by 58.33% from 12 listings in January 2024 to 5 listings in February 2024.
♦ New listings increased by 550% from 1 listing in January 2024 to 13 listings in February 2024.
♦ Sold listings remained the same at 3 listings in both January and February 2024.
► Market Activity:
♦ The median days on market (DOM) decreased by 66.67% from 59 days in January 2024 to 19 days in February 2024.
Key Takeaways:
■ The median list price decreased slightly from January to February 2024, while the median sale price saw a small increase.
■ There was a significant decrease in active listings, while new listings increased significantly. Sold listings remained unchanged.
■ The median DOM decreased significantly, indicating a faster selling market in February compared to January.
Prior Year Comparison: (February 2024 vs. February 2023)
► Pricing:
♦ The median list price increased by 10.14% from $739,000 in February 2023 to $787,500 in February 2024.
♦ The median sale price increased by 12.64% from $617,000 in February 2023 to $550,000 in February 2024.
► Inventory:
♦ Active listings decreased by 54.84% from 31 listings in February 2023 to 14 listings in February 2024.
♦ New listings increased by 1200% from 1 listing in February 2023 to 13 listings in February 2024.
♦ Sold listings decreased by 16.67% from 6 listings in February 2023 to 3 listings in February 2024.
► Market Activity:
♦ The median DOM decreased by 55.17% from 42 days in February 2023 to 19 days in February 2024.
Key Takeaways:
■ Both the median list price and sale price increased slightly year-over-year from February 2023 to February 2024.
■ There was a substantial decrease in active listings, while new listings increased significantly. Sold listings saw a slight decrease.
■ The median DOM decreased significantly, indicating a much faster selling market in February 2024 compared to February 2023.
Overall Summary
The Yarmouth, Maine real estate market saw mixed results from January 2024 to February 2024. The median list price decreased, while the median sale price saw a slight increase. There was a significant decrease in active listings, but new listings increased substantially.
Sold listings remained unchanged. Compared to February 2023, February 2024 saw a slight increase in both median list price and median sale price. There was also a substantial decrease in active listings, while new listings increased significantly, and sold listings saw a slight decrease.
The median DOM decreased significantly in both comparisons, indicating a much faster selling market in February 2024 compared to both January 2024 and February 2023. It is important to note that this is a small data set and may not be representative of the entire market.
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