AUGUSTA (February 23, 2016) — Realtors across the state of Maine continue to report a very healthy market for single-family existing home sales. Maine Listings calculated a 13.54 percent rise in sales last month, compared to January 2015. The median sales price (MSP) for the 889 homes sold reached $175,500, an increase of 9.69 percent. The MSP indicates that half of the homes were sold for more and half sold for less.
The National Association of Realtors today released statistics indicating an 11.2 percent increase in sales nationwide last month, and a national MSP rise of 8.3 percent to $215,000. Regionally, the Northeast experienced an impressive 20.6 percent jump in sales while the regional MSP was up 0.9 percent to $247,500.
Ed Gardner, 2016 President of the Maine Association of Realtors, says, “Overall, Maine has enjoyed a healthy real estate market this past month, but we are struggling with historically-low inventory in some markets. Buyers are facing fewer available home choices, and sellers are in the same boat, not finding enough ‘trade-up’ inventory.”
Gardner, Broker/Owner of Ocean Gate Realty LLC, added, “Now is a great time to buy, with very low interest rates. It’s also a terrific time to list your property, since there is little competition in some market areas. This also holds true for Maine’s commercial real estate sector. Contact a REALTOR today and experience a smooth transaction acquiring or selling your greatest investment, with your experienced real estate professional.”
Below are two charts showing statistics for Maine and its 16 counties. The first chart lists statistics for the month of January only, statewide. The second chart compares the number of existing, single-family homes sold (units) and volume (MSP) during the rolling quarter of November through January.
