Maine started 2024 with a total of 1,711 single-family homes on the market, with a median home price of $400,000 and an average price per square foot of $304.16. By the end of the year, inventory had increased to 2,460 homes on the market (+44%), with a median home price of $449,500 (+12%), and an average price per square foot of $342 (+13%).
At the start of 2024, the median days on market (DOM) was 77 days – by the end of the year, median DOM had increased to 91 days.
Maine started the year with 32.20% of homes taking a price cut. (For reference, 35% is the national average for price reductions in a "normal" year.) By the end of the year, about 32.44% of homes for sale had taken a price cut.
