PORTLAND (May 28, 2013) — The spring real estate sales season in Maine has
arrived with double-digit sales increases. Maine Listings reported a 13.71 percent rise in sales of single-family existing homes during the month of April 2013. The median sales price (MSP) for the 937 homes sold statewide last month reached $174,900, an increase of 4.14 percent. The MSP indicates that half of the homes were sold for more and half sold for less.
According to the National Association of Realtors, nationwide sales increased 9.0 percent in the past 12 months, while the national MSP jumped 11.0 percent to $193,300. Regionally, single-family existing home sales in the Northeast rose 4.9 percent and the regional MSP of $245,100 reflects a 5.1 percent increase.
Bart Stevens, 2013 President of the Maine Association of Realtors, said, “The market in Maine continues to improve; home ownership matters to our residents. Due to extremely attractive mortgage rates, more buyers are also making ‘quality of life’ investments by purchasing cottages, camps and other recreational properties.”
Stevens, owner/broker with Century 21 Nason Realty in Winslow, reported that in many areas, sellers have “priced their properties to the market conditions, resulting in a quicker sale—especially those which stand above the crowd in terms of curb appeal. In many markets, multiple-offer situations are becoming more frequent, so buyers should consult with a local Realtor to put forth an educated offer. ”
Below are two charts showing statistics for Maine and its 16 counties. The first chart lists statistics for the month of April only, statewide. The second chart compares the number of existing, single-family homes sold (units) and volume (MSP) during the months of February, March and April of 2012 and 2013.
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.
