Facts are stubborn, but statistics are more pliable – Mark Twain
The Cumberland County single-family market showed a blend of seasonal slowing and continued stability in November. The median sales price held at $560,000, underscoring resilient pricing despite a modest month-over-month decline. Closed sales totaled 249, down from October in line with typical late-fall trends, while remaining nearly level with last year.
Homes continued to sell efficiently, with a median of 16 days on market, even as marketing time increased slightly from October. Sellers retained a strong position overall, with properties selling at an average of 99.2% of list price, reflecting only minor softening in negotiating leverage.
Inventory conditions shifted toward greater balance. Active listings rose to 558 homes, up 25.4% year over year, providing buyers with more options than last November, though inventory dipped slightly month to month. New listings totaled 242, reflecting both seasonal restraint and year-over-year growth. Months’ supply increased to 2.2, nearly 26% higher than last year, yet still within seller-favorable territory.
Overall, November data points to a market that is moderating at a seasonal pace. While activity has cooled from peak levels, pricing remains stable and buyer demand continues to support home values across Cumberland County.
As the marketplace shifts, whether you’re selling or buying, communicate with an agent at Maine Home Connection early for the best strategy to navigate the complexities of your transaction. With high interest rates and record level home prices, Maine’s real estate market continues to be challenging. If you are looking to buy or sell in the near future, it is a good idea to consult with one of our professional MHC agents.
Until next time … Imagine More!
