Top Large Teams in Maine – Ranked by Volume

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2023 Maine Housing Market Summary

Maine started 2023 with a total of 1,453 single-family homes on the market, with a median home price of $364,900 and an average price per square foot of $263. By the end of the year, inventory had increased to 1,836 homes on the market (+26%), with a median home price of $412,950 (+13%) and an average price per square foot of $307 (+16%).

At the start of 2023, the median days on market (DOM) was 91 days – by the end of the year, median DOM had decreased to 77 days.

Maine started the year with 30% of homes taking a price cut (for reference, 35% is the national average for price reductions in a ‘normal’ year.) By the end of the year, about 32% of Maine homes for sale had taken a price cut.

Finally, Altos’ proprietary Market Action Index (MAI) shows that Maine started 2023 as a strong seller’s market, with an MAI score of 50; by the end of the year, the MAI had dropped to 35 – a slight seller’s advantage.

This market summary is powered by Altos Research – click here to run a free report for your area.

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