Buyers and sellers of Maine real estate are showing continued interest in single-family existing homes across the state. According to Maine Listings, sales jumped 20 percent in August. The median sales price (MSP) for the 1,506 homes sold last month reached $182,000—an increase of 7.06 percent.
The MSP indicates that half of the homes were sold for more and half sold for less.
The National Association of Realtors today reported that single-family existing home sales across the country rose 12.8 percent in August, and the national MSP of $212,200 represents a 14.4 percent price increase. Regionally, sales in the Northeast rose 12.7 percent and the regional MSP increased 7.6 percent to $268,800.
“There’s a continued optimism in the market,” said Bart Stevens, President of the Maine Association of Realtors. “It continues to be a great time to list and sell in Maine overall, and those thinking of doing so need to consult with a Realtor knowledgeable of the local area early in the game.”
Stevens, owner/broker with Century 21 Nason Realty in Winslow, added that many Maine markets have plenty of move-in-ready inventory available. “Sellers understand the importance of staging their homes correctly, and those who prepare properly are selling faster. There are a lot of motivated buyers out there.”
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 months of June, July and August of 2012 and 2013.
Source: Maine Real Estate Information System, Inc. (d/b/a Maine Listings). Note: Maine Listings, 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.
