Home sales and the number of single-family homes on the market in Maine both rose for the sixth consecutive month in August, according to data released Thursday by the Maine Association of Realtors.

Sales of existing single-family homes in Maine rose nearly 10% in August compared to the same month last year. Nationally, home sales increased 2.5% during the same period, the National Association of Realtors reported.

Jeff Harris, president of the Maine Association of Realtors, said potential homebuyers in Maine have more options than they’ve had in years.

“The inventory level of homes for sale is building as more sellers enter the market — currently at the highest level since October of 2020,” Harris said in a statement.

Here are four key takeaways from the August housing report:

Median sale price drops again

The statewide median sale price for August was $409,450, meaning half of homes sold for more and half sold for less, according to the report.

While that’s about a $15,000 — or roughly 3.7% — decrease from May and June’s record highs of $425,000, it still represents an increase of 2.4% over August 2024, when the state saw a median price of $400,000, according to the report.

The National Association of Realtors reported that median sale prices nationwide rose 1.9% to $427,800.

The regional median sales price in the Northeast increased 6.2% to $534,200 over that same time period.

Number of home sales going up

Statewide, 4,731 homes were sold between June 1 and Aug. 31 — an increase of more than 8.6% over the same period last year.

The largest increases in that time frame were in Lincoln County, where sales increased nearly 29%, and in Knox and Aroostook counties, where the increase was over 20%.

The jump in sales sets Maine apart from some other parts of the county, where month-over-month sales have decreased.

According to the National Association of Realtors, month-over-month sales increased in the Midwest and West but fell in the Northeast and South. Year-over-year, sales rose in the Midwest and South but declined in the Northeast and West.

“Home sales have been sluggish over the past few years due to elevated mortgage rates and limited inventory,” said Lawrence Yun, the chief economist for the National Association of Realtors. “However, mortgage rates are declining and more inventory is coming to the market, which should boost sales in the coming months.”

Median sales price drops in 3 counties

While median sales prices statewide are up 4.5% from June to August compared to the same period last year, that is not the case in three Maine counties.

Sagadahoc County’s median sales price is now $440,000, a decrease of nearly 8%.

In Knox County, the median price dropped by just over 1% to $450,000.

And in Somerset County, it decreased by more than 2% to $239,500.

Cumberland County tops the price list again

Cumberland County continues to have the highest median sale price in the state, climbing to $616,000 in the August report.

The median sale price in Maine’s most populous county hit $600,000 in June for the first time, then jumped up another $5,000 in July.

The number of home sales in Cumberland County is also continuing to increase, with 934 dwellings sold between June 1 and Aug. 31 — a nearly 13% increase from the same period last year.