The number of homes sold in Maine dipped by nearly 5 percent in July, but prices continued to rise sharply.

Home sales dropped 4.86 percent last month from July 2020, while the median price increased 23.58 percent, according to Maine Listings, a subsidiary of the Maine Association of Realtors.

In Maine last month, 1,996 homes sold, down from 2,098 in July 2020, and the median sales price was $315,000, up from $254,900 during the same month a year ago.

Nationally, sales dipped 0.8 percent in July, the National Association of Realtors said, while prices rose 18.6 percent to a median of $367,000. In the Northeast, sales rose 12.1 percent and the median sales price increased 23.6 percent to $411,200.

Demand for homes in Maine remains high, leading to the continued increase in prices, said Aaron Bolter, broker and owner of Allied Realty in Skowhegan and president of the Maine Association of Realtors.

But there are signs that the tight inventory of homes on the market, which has contributed to the sharp increases in prices, might be starting to ease, he said.

“For the fourth consecutive month, we’ve seen improving for-sale supply numbers,” Bolter said, with active listings for single-family homes up 7.9 percent last month compared to July 2020 and up 67 percent from the March 2021 low.


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