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Home sales, prices continue to skyrocket

By Stephen Betts | Apr 25, 2021
Photo by: Stephen Betts

Sales of single-family homes continue on a torrid pace with record-setting prices.

The Maine Association of Realtors released April 22, sales figures for the three-month period from Jan. 1 through March 21, 2021.

The figures show that the number of single-family homes sold in Knox County during the first three months of the year totaled 150, a 44% increase from 104 during the first quarter in 2020.

The median price of the homes sold this year jumped 12% from the first quarter of last year to the first quarter of 2021, increasing from $240,000 to $268,500.

Statewide, sales rose 19 percent and median home prices rose 14%, reaching $256,000 during the first quarter compared to a year ago.

The average number of days that homes were on the market statewide before a sales agreement was reached was down to 11 days during March, the Board of Realtors stated. That compares to 48 days a year earlier.

Nationally, sales rose 10% from a year ago with prices jumping 18%, reaching $364,800.

“In this fast-moving market, homes become available for sale and are immediately met with pent-up buyer demand,” said Aaron Bolster, a broker/owner of Allied Realty in Skowhegan and President of the Maine Association of Realtors.

Many people from out of state have moved to Maine during the pandemic with demand for housing outstripping the supply of homes.

In all of 2020, a record 694 single-family homes sold in Knox County. This was up from 562 in 2019.

From 2013 through 2020, the median price of a single price home went from $176,000 to $268,250 in 2020.

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