LEWISTON — The price of a single-family home in Maine increased 25.36% in April compared to April a year ago. The Maine Association of Realtors reported that 1,143 homes changed hands last month, down 20.90% from April 2021.

The statewide median sales price for existing homes sold is $346,000. This means that half of the homes sold for more and half sold for less.

“Despite the constrained for sale inventory, Maine’s real estate markets continue to be strong due to sustained demand,” Madeleine Hill, president of the Maine Association of Realtors, said. “The number of homes sold from January through April of 2022 is 4.5% higher than January through April 2019 which, prior to the pandemic, was Maine’s top year for real estate sales.

Hill added Maine’s quality of life combined with the popularity of remote working contributed to the unprecedented demand for real estate in the past two years.

“This is our 10th consecutive month of year-over-year sales declines, and seven of those months also showed a declining inventory,” Hill said. “The supply and demand for single-family housing is out of balance.”

According to the National Association of Realtors, sales across the country were down by 4.8% in April compared to April 2021, while the national median sales price rose 14.8% to $397,600. Regionally, comparing April 2022 to April 2021, sales in the Northeast dipped 10.7 % while the regional median sales price increased 8.1% to $412,100.

“During March and April of 2022, we experienced a slight uptick in listings. An increasing supply will continue to address the pent-up demand and may relieve some of the upward pricing pressures,” Hill said.

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