SOUTH PORTLAND (July 19, 2012) — In June 2012, sales of single-family existing homes in Maine again increased by double-digits. According to the Maine Real Estate Information System, Inc. (MREIS), 1,247 homes sold last month, up 26.6 percent compared with June 2011. The median sales
price (MSP) in that same time period increased 1.68 percent to $175,500. The MSP indicates that half of the homes were sold for more and half sold for less.
The National Association of Realtors (NAR) reports a sales increase of 4.8 percent for national existing single-family homes. Prices are up 8.0 percent nationwide to a national MSP of $190,100. Regionally, sales in the Northeast increased 1.9 percent and the regional MSP declined 1.8 percent to $253,700.
Tina Lucas of Lucas Real Estate in Portland said, “First time home buyers often assume they won’t qualify for a mortgage for a variety of reasons: their student loans are too high, their credit score is too low. In an effort to help, The Maine Association of REALTORS has launched an educational campaign
called ‘Home Brew’ to provide buyers with the right mix of ingredients to realize their dream of homeownership. Utilizing TV, radio, social media and short informational videos, buyers are educated on topics including: improving a low credit score, considering a multi-family property and learning to
recognize a home’s sweat equity potential. For more information, search Home Brew on Facebook or follow on Twitter @HomeBrewMe.
“With historic low interest rates, attractive pricing and a high affordability index, now really is a great time to buy. A local REALTOR can help get you started in the process.”
Below are two charts showing statistics for Maine and its 16 counties. The first chart lists statistics for the month of June only, statewide. The second chart compares the number of existing, single-family homes sold (units) and volume (MSP) during the months of April, May and June of 2011 and 2012.
Source: Maine Real Estate Information System, Inc. Note: MREIS, a subsidiary of the Maine Association of REALTORS, is a statewide Multiple Listing Service with over 4,100 licensees inputting active and sold property listing data. Statistics reflect properties reported as sold in the System within the time periods indicated.
