SOUTH PORTLAND (Oct. 21, 2013)— For the third consecutive month, sales of single-family existing homes resulted in a double-digit statistical gain over the prior year. Maine Listings today reported that 1,307 homes changed hands in September—a 24.59 percent jump compared to the same month one year ago. Statewide, the median sales price for those homes increased 1.76 percent to $173,000. The MSP indicates that half of the homes were sold for more and half sold for less.
According to the National Association of Realtors, home sales across the country during September 2013 rose by 10.9 percent over September 2012. The national MSP increased 11.4 percent to $199,300 in September. Regionally, home sales in the Northeast jumped 15 percent, and the regional MSP of $240,900 reflects a 2.3 percent rise in prices from a year ago.
“The extraordinarily busy summer season is beginning to wind down, and we now enter what many consider the second busiest selling time of the year—fall,” said Bart Stevens, President of the Maine Association of Realtors. “Here in Maine, winter can sometimes be long, and many buyers want to be settled before the winter snows arrive. With continued low interest rates and plenty of inventory, this time of year is perfect for buyers.”
Stevens, owner/broker with Century 21 Nason Realty in Winslow, said sellers should place emphasis on exterior landscaping during the fall and winter season. “Keep tree leaves at bay and maintain the shrubbery to prevent an overgrown look. Sellers should inspect the home exterior and make sure it is ready for winter. Fall offers buyers that final chance to truly see a home in all its glory.”
Below are two charts showing statistics for Maine and its 16 counties. The first chart lists statistics for the month of September only, statewide. The second chart compares the number of existing, single-family homes sold (units) and volume (MSP) during the months of July, August and September of 2012 and 2013.
