AUGUSTA (September 21, 2015)—The real estate market in Maine is maintaining healthy sales and price increases. According to Maine Listings, Realtors reported 1,661 single-family existing home sales in August—a 6.89 percent increase from August 2014. Prices are also up 4.91 percent to a statewide median sales price (MSP) of $187,000. The MSP indicates that half of the homes were sold for more and half sold for less.
Sales across the country rose 6.1 percent in the past 12 months. The National Association of Realtors reported a national MSP of $230,200 in August—a 5.1 percent increase. Regional sales were up 6.1 percent and the MSP in the northeastern United States increased 2.4 percent to $271,600.
“Properties that are appropriately priced to the market are selling. It has been a strong year for much of Maine and inventory is moving quickly,” said Marie Flaherty, 2015 President of the Maine Association of Realtors.
Flaherty, a Realtor with The Flaherty Group, adds that this is the perfect time to explore “seasonal and waterfront properties. If they didn’t get much use this season, they may be coming on the market. It’s also the perfect time to purchase ahead of ski and snowmobile season.”
Below are two charts showing statistics for Maine and its 16 counties. The first chart lists statistics for the month of August only, statewide. The second chart compares the number of existing, single-family homes sold (units) and volume (MSP) during the “rolling quarter” the months of June 1, 2014 to August 31, 2014 and June 1, 2015 to August 31, 2015.
