Home News Home prices set new record in Knox County – Knox County VillageSoup

Home prices set new record in Knox County – Knox County VillageSoup

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Single-family home prices broke new records in Knox County.

According to a news release issued Thursday, May 19, the Maine Real Estate Agents Association said that the average price of a house in Knox County for the three months to April 30, 2022 reached $ 375,000.

This is up 32% from $ 285,000 in the same three months of 2021. The median of 2022 is more than double the median of $ 186,500 for the same period in 2017.

“The quality of life and the emergence of remote work in Maine have created unprecedented demand for real estate in Maine over the past two years,” said Roxanne York Real Estate, Chairman of the Maine Real Estate Agents Association and Harpswell. Madeleine Hill, a designated real estate agent in Maine, said. In a news release. “However, this was the 10th consecutive month of year-on-year declines in sales, of which 7 months also showed a decline in sales inventories. The supply-demand balance for single-family homes has been disrupted,” he said.

A total of 103 single-family homes were sold in Knox County from February 1st to April 30th, down from 146 in 2021 to 107 in 2020. However, sales are close to the years before the pandemic. ..

In 2021, the Maine Housing Corporation reported that 66% of Knox County residents could not afford the median home price. The number was not updated in 2022.

In Rockland’s South End alone, two homes on Ocean Street were demolished and replaced with new homes after 2019. The third of Cresan Street will be leveled with plans for a new home.

Dramatic changes in the housing market are taking place in many parts of the United States. In Maine, median home prices reached $ 325,000 over the past three months, with Cumberland County being the highest at $ 492,000. Median home prices in Aroostook County are at least $ 148,800.

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