SOUTH PORTLAND (September 22, 2014)—Sales of single-family existing homes continue to rise in the state of Maine, according to statistics released today by Maine Listings. A total of 1,556 homes changed hands during the month of August 2014—an increase of 3.32 percent from 12 months ago. The August median sales price (MSP) eased 2.2 percent to $178,000. The MSP indicates that half of the homes were sold for more and half sold for less.
National sales were down 4.9 percent last month, while the MSP increased 5.2 percent to $220,600. The National Association of Realtors reported that regionally, sales in the Northeast followed national trends with a dip of 4.3 percent. The regional MSP of $265,800 represents a decrease of 0.8 percent.
Angelia Levesque, President of the Maine Association of Realtors, said, “We have seen a consistent trend of unit volume increase and sales price decrease over the last few months. The good news is that buyers are out there and they are stepping up and purchasing.” Levesque, a Realtor with Better Homes and Gardens Real Estate/The Masiello Group in Bangor, advised that, “With the slight decrease in home values, sellers must seek advice from their Realtor and carefully evaluate their listing price. Consider how you are
positioned in your market. Now is perfect time to capture buyers during the active fall 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” months of June, July and August of 2013 and 2014.