Sales of single-family existing homes in Maine continue a double-digit increase trend.

Statistics released by the Maine Association of Realtors show 1,1613 homes changed hands across the state in May — a 28.32% increase over May last year. High buyer demand continues to impact home values.

The statewide median sales price, also known as MSP increased 28.21% to $305,000 in May compared to May last year. The MSP indicates that half of the homes were sold for more and half sold for less.

“May 2020 was the low point for Maine’s residential real estate market due to the COVID-19 shutdown,” says Aaron Bolster, a broker/owner of Allied Realty in Skowhegan and president of the Maine Association of Realtors.

“Since then, the numbers have rebounded and continue to show strength. These reported numbers reflect a comparison to the May 2020 COVID-19 shutdown statistics. May 2021 sales volume was comparable to pre-pandemic sales volume levels, about 1% above the May 2019 figures.”

According to the National Association of Realtors, single-family existing home sales across the country rose 39.2% in May 2021 compared to May 2020. The national MSP of $356,600 represents a 24.4% increase from May 2020. Regionally, sales across the Northeast increased 46.9% and the regional MSP increased 17.1% to $384,300, compared to May 2020.

“We continue to see swift market conditions with most transactions navigating multiple offers,” said Bolster. “Statewide, the Days on Market for May 2021 was six days, compared to 17 days a year ago, and 20 days in 2019. The month of May brought additional for-sales homes onto the market, with active single-family listings up 21% at month’s end. Additional for-sale supply will help meet this pent-up demand.”