Is Peaks Island, ME 04108 a buyer’s or seller’s market?
Peaks Island is a balanced market. With about 4.8 months of supply, well-priced homes can still draw more than one offer, but buyers have some room to negotiate.
The Peaks Island housing market right now
In the three months ending August 31, 2026, 0% of homes in Peaks Island, ME 04108 sold above their list price, the typical home went under contract in 55 days and there were 4.8 months of supply. Four to six months of supply is a balanced market, where pricing and condition decide how much room there is to negotiate. With only 6 sales, these figures can swing a lot from month to month.
Compared with the same period a year earlier, the share selling over asking fell from 25%, homes sold more slowly (23 days then) and the median sale price rose 7% to $722,687. Overall, Peaks Island is less competitive than a year ago, which gives buyers more room.
Within Cumberland County, homes here sell more slowly than in 89% of the county’s ZIP codes, and sell less often over asking than in any other ZIP code in the county.
Nearby, Chebeague Island 04017 (67% sold over asking) and Gorham 04038 (63% sold over asking) are even more competitive.
Run the numbers for 04108
Nearby markets
Bailey Island 04003Buyer’s market $656 /sq ftBridgton 04009Balanced $325 /sq ftBrunswick 04011Seller’s market $301 /sq ftCape Elizabeth 04107Seller’s market $426 /sq ft Browse all markets →Where Peaks Island is
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Questions about Peaks Island real estate
Is Peaks Island a buyer’s or seller’s market?
A balanced market: there were 4.8 months of supply in Peaks Island, ME 04108 in the three months ending August 31, 2026. Under four months usually favors sellers, and more than six favors buyers.
How fast do homes sell in Peaks Island?
The typical home went under contract in 55 days in the latest three months.
Do homes in Peaks Island sell over asking?
0% of homes sold above their original list price, and the typical sale closed at 96.0% of the list price.
What are property taxes in Peaks Island?
About 1.04% of a home’s value a year in Cumberland County, or roughly $4,160 on a $400,000 home.
What is the median home price in Peaks Island?
The median sale price was $722,687 in the three months ending August 31, 2026, about $575 per square foot.
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Market data describes housing activity only. Figures are rolling 3-month values from Redfin and may be revised. Methodology