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April Market Update for Cumberland County, Maine

The Libby Starnes Team

We're dedicated to bringing you a one-of-a-kind real estate experience you won't find anywhere else.

We're dedicated to bringing you a one-of-a-kind real estate experience you won't find anywhere else.

Apr 11 2 minutes read

Maine has been experiencing a prolonged shortage of inventory. Portions of this can be attributed to COVID-19; however, limited supply has been an ongoing issue and precedes the limitations on public life caused by COVID-19. The 2020 selling season saw a marked decrease in supply as compared to previous years, which already had a lower supply. This has created rapid increases in sale prices, a large number of homes going under contract for significantly over list price, and a noticeable increase of contracts with clauses that require buyers to pay the difference between appraised value & contract price. The heightened level of demand & contracted supply has continued into 2021 & 2022.

Examining data from an annualized perspective can provide insight into local real estate markets; however, in times of rapid changes, other approaches can be helpful. Below is an analysis of local sales data from the last 90 and 180 days as compared to the same time periods from the year before. Examining market data in this way can highlight recent market changes in a way that an annualized approach can not.

Our monthly market update showcases everything you need to know about local real estate trends over the last month. 

April Market Update for Cumberland County, Maine

167

Active Listings

417

Under Contract

184

Closed Sales


Homes Sold

104 %

Sale-to-List Price


 

$442,550 

+10.6%

Average Sales Price 


Last 90 Days

-14.3%

Average Days on Market  Last 90 Days

651

- 30.8 %

Number of Sales 

Last 90 Days

Curious about how your home's value has changed?

We will gladly prepare a Comparative Market Analysis for you so that you are armed with the most current information.

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