The median price of a single-family house in Knox County reached a record $437,500 during the past three months.

Maine Listings, a subsidiary of the Maine Association of Realtors, issued their monthly news release on Thursday, Aug. 18.

The number of homes sold in Knox County from May 1 through July 31 totaled 170, a drop of 22% from the same three months in 2021. But the median price for those single-family home sales jumped 22%, reaching $437,500.

That is the highest median price on record for Knox County. Only two years ago, the median price for a single-family home in Knox County was $240,000 for those same three months.

The median statewide price for May 1 through July 31, 2022 was $355,000. The prices ranged from a high of $506,000 in Cumberland County to a low of $150,000 in Aroostook County.

“Nearly 1,700 households bought homes in Maine during July,” Madeleine Hill, 2022 President of the Maine Association of Realtors and designated broker at Roxanne York Real Estate in Harpswell said in the news release. “Activity over the summer remains steady but impacted by low for-sale inventory; 30% fewer single-family homes are for sale than in July 2021 and 66% fewer than pre-pandemic July 2019.

“Sellers and buyers are also adjusting to higher mortgage interest rates. Rate-sensitive buyers are more discerning, and we are beginning to see sellers respond,” Hill said in the news release. “Overall, in Maine, it’s still a seller’s market though we’re beginning to see a leveling in some areas as evidenced by higher days on market and downward pricing adjustments.”