Maine’s median sale price for a single-family home continued to drop in November, while inventory for would-be home buyers remains low, according to new data from the Maine Association of Realtors.

“While demand remains steady for Maine’s tight for-sale inventory, increased mortgage interest rates, coupled with the typical holiday slowdown, have impacted the market,” said Madeleine Hill, the association’s president.

According to the association’s data, the median sale price in November was $325,000. That’s 8.3% higher than the same figure from November 2021, but it is lower than the $332,000 median sale price the association reported in October.

The latest figures show the downward trend continuing, since median sale prices peaked at $360,825 in June.

The number of available homes, however, remains at a historic low. Hill noted there was a 13% decline in homes for sale between October and November of this year and 58% fewer compared to November of 2019.

Sale volumes remain high at nearly 1,300, according to the association’s data, despite being lower than the 1,600 reported in October 2022.

The National Association of Realtors reported sales in November 2022 were down 35.2% nationwide when compared to November of 2021. The national median sale price went up by 3.2% to $376,700. In the northeast, according to national data, the regional median sale price went up in November by 3.5% to $394,700 compared to a year ago.

Over the past three months, local association data broken down by county shows Cumberland County leading the state with 905 homes sold, a drop of more than 23% compared to the same period in 2021. Piscataquis had the fewest at 103, a decline of nearly 17%.

Cumberland County also had the highest median sale price over the past three months at $485,000, an increase of more than 10% compared to last year. Aroostook County had the lowest median price at $146,000, also up about 10%.