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Is Union, ME 04862 a buyer’s or seller’s market?

Buyer’s market 3 months ending August 31, 2026 · Source: Redfin

Union is a buyer’s market. With about 8 months of supply, buyers usually have more time and more room to negotiate on price and terms.

Months of supply8Under 4 months = seller’s market
Sold above original list10%Share of sales, last 3 months
Median sale-to-list95.8%Sold price ÷ list price
Median days on market20Listing to accepted offer
Median price per sq ft$246▼ −2.6% vs. last year

The Union housing market right now

In the three months ending August 31, 2026, 10% of homes in Union, ME 04862 sold above their list price, the typical home went under contract in 20 days and there were 8 months of supply. More than six months of supply favors buyers, who usually have more time and more room to negotiate. That’s based on 10 home sales.

Compared with the same period a year earlier, the share selling over asking fell from 25%, homes sold faster (66 days then) and the median sale price fell 7% to $305,868. Overall, Union is about as competitive as it was a year ago.

Within Knox County, homes here sell faster than in any other ZIP code in the county, and sell more often over asking than in 57%.

Nearby, buyers who want less competition could look at Vinalhaven 04863 (0% sold over asking) or South Thomaston 04858 (0% sold over asking), while Thomaston 04861 (27% sold over asking) and Spruce Head 04859 (25% sold over asking) are even more competitive.

Run the numbers for 04862

Prefilled for 04862Can I win this house?Multiple-offer likelihood for a listing Prefilled for 04862Over-asking calculatorTypical range over list ToolOffer strength scoreHow your offer looks to a seller ToolAppraisal gapCash needed if it appraises low

Nearby markets

Camden 04843Balanced $375 /sq ftCushing 04563Buyer’s market $376 /sq ftFriendship 04547Seller’s market $242 /sq ftHope 04847Buyer’s market $368 /sq ft Browse all markets →

Towns like Union nearby

Find towns like Union in other states →
Vassalboro, ME04989 · 22 miles away92% similarmore apartments and townhomes Oakland, ME04963 · 29 miles away91% similarlarger Jefferson, ME04348 · 12 miles away90% similarpricier homes ($34K more) · younger residents Bowdoin, ME04287 · 37 miles away90% similarpricier homes ($41K more)

Where Union is

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Questions about Union real estate

Is Union a buyer’s or seller’s market?

A buyer’s market: there were 8 months of supply in Union, ME 04862 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 Union?

The typical home went under contract in 20 days in the latest three months.

Do homes in Union sell over asking?

10% of homes sold above their original list price, and the typical sale closed at 95.8% of the list price.

What are property taxes in Union?

About 1.17% of a home’s value a year in Knox County, or roughly $4,680 on a $400,000 home.

What is the median home price in Union?

The median sale price was $305,868 in the three months ending August 31, 2026, about $246 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