Is Palmyra, ME 04965 a buyer’s or seller’s market?
Palmyra is a buyer’s market. With about 7.7 months of supply, buyers usually have more time and more room to negotiate on price and terms.
The Palmyra housing market right now
In the three months ending August 31, 2026, 0% of homes in Palmyra, ME 04965 sold above their list price, the typical home went under contract in 98 days and there were 7.7 months of supply. More than six months of supply favors buyers, who usually have more time and more room to negotiate. With only 5 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 33%, homes sold more slowly (88 days then) and the median sale price rose 14% to $369,740. Overall, Palmyra is less competitive than a year ago, which gives buyers more room.
Within Somerset County, homes here sell more slowly than in 86% of the county’s ZIP codes, and sell less often over asking than in any other ZIP code in the county.
Nearby, Athens 04912 (75% sold over asking) and Saint Albans 04971 (43% sold over asking) are even more competitive.
Run the numbers for 04965
Nearby markets
Anson 04911Balanced $211 /sq ftAthens 04912Balanced $235 /sq ftBingham 04920Buyer’s market $138 /sq ftCambridge 04923Seller’s market $71 /sq ft Browse all markets →Towns like Palmyra nearby
Find towns like Palmyra in other states →Where Palmyra is
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Questions about Palmyra real estate
Is Palmyra a buyer’s or seller’s market?
A buyer’s market: there were 7.7 months of supply in Palmyra, ME 04965 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 Palmyra?
The typical home went under contract in 98 days in the latest three months.
Do homes in Palmyra sell over asking?
0% of homes sold above their original list price, and the typical sale closed at 94.2% of the list price.
What are property taxes in Palmyra?
About 1.08% of a home’s value a year in Somerset County, or roughly $4,320 on a $400,000 home.
What is the median home price in Palmyra?
The median sale price was $369,740 in the three months ending August 31, 2026, about $135 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