AUGUSTA — Demand remains strong for existing single-family homes in Maine, while inventory of houses for sale is lower than in a typical, balanced real estate market.

According to statistics released by Maine Listings, sales eased 7.99% in November 2021, while prices increased 11.11% compared to November 2020.  The median sales price reached $300,000, compared to $270,000 in November 2020. The MSP indicates that half of the homes were sold for more and half sold for less.

In Waldo County, sales in November 2021 decreased 20.8% from the same month a year earlier, to 179 from 226 in 2020. The median price, however, increased 10.69% to $290,000 from $262,000 in 2020.

“Despite the lower sales volume last month and during the second half of 2021, January through November 2021 was one of Maine’s best, with the number of residential real estate transactions 4.1% above the comparable time period in 2020, Maine’s historical high. The 2021 figures are 12.3% higher than the comparable time period of 2019, prior to the pandemic,” said Aaron Bolster, broker/owner of Allied Realty in Skowhegan and 2021 president of the Maine Association of REALTORS. “The high demand for Maine residential real estate is stymied by the tight supply of homes for sale across our state.

“There were 33% fewer homes for sale in November 2021 than November 2020 and 59% fewer than November 2019. With a six-month supply of for-sale inventory as the benchmark for a balanced real estate market, our current numbers indicate a 1.7-month supply.”

The National Association of Realtors reported a 2.2% decrease in single-family home sales across the country comparing November 2021 to November 2020. Prices rose 14.9% to a national MSP of $362,600. Regionally, sales in the Northeast decreased 11.6% and the MSP of $372,500 reflects a 4.7% increase in November 2021 compared to November a year ago.

“Move-in-ready homes are in extremely high demand and qualified buyers are ready to purchase. We expect a solid finish to 2021,” Bolster said.