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By the numbers: An incredible year in Maine real estate


17,953

Homes sold as of Nov. 30, according to Maine Listings, a subsidiary of the Maine Association of Realtors. That number was just 187 sales short of 2019’s total sales, making 2020 very likely to have set a new record.

$4,218,750

The sale price of 58 Mystic Cove Rd. in Raymond, pictured above, according to realtor.com. It sold on October 9 to become one of the state’s biggest 2020 closings. The five bedroom, five-and-a-half bath home sits on over 52 acres with 550 feet of frontage on Sebago Lake.

$270,000

The current median price of a home in Maine as calculated by Maine Listings.

56 percent

The proportion of residents who couldn’t afford the median home price tag of $225,000 in 2019, according to the Maine State Housing Authority.

8.7 percent

Overall price increase for housing in Maine from July to September 2020 as compared to the same time in 2019. This number was calculated by the Federal Housing Finance Agency. Maine ranks 12th in the nation for price increases this year. In first place is Arizona, with an increase of 14.36 percent.

One-in-three

The proportion of buyers who were not living in Maine before purchasing. This is an increase from the usual one-in-four, according to Maine Listings

2.66 percent

The average, national interest rate for a 30-year fixed mortgage this week, down from 3.74 percent this time last year, as calculated by the Federal Reserve Bank of St. Louis. The Forbes Advisor mortgage calculator estimates that the total interest paid on a $300,000 loan taken out this week would be at least $62,000 less interest paid than on a loan taken out this time last year.

$94,593

The National Association of Realtors estimation of the average economic impact per home sale in Maine. The figure takes into account commissions, fees, furniture purchases, expenses related to moving and remodeling, and a multiplier effect for when contractors recirculate that money.

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