SOUTH PORTLAND (February 21, 2013) — Realtors across the state of Maine sold 21.39 percent more homes in January 2013 than the same month one year ago. According to statistics released by Maine Listings, a total of 664 homes changed hands last month. The median sales price (MSP) for those homes reached $162,000—a rise of 3.18 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 a nationwide sales increase of 8.5 percent in January. The national MSP jumped 12.6 percent to $174,100. Sales in the regional Northeast were up 12.1 percent and the regional MSP rose 2.4 percent to $230,500.
Bart Stevens, 2013 President of the Maine Association of Realtors, says, “We are now shifting from a strong buyer’s market to a more balanced market; this is territory in which many buyers and sellers have not been for a number of years. The Maine housing statistics continue to show incredible improvement each month. Now, more than ever, buyers and sellers need to make sure they consult with a Realtor knowledgeable in their market areas.”
Stevens, owner/broker with Century 21 Nason Realty in Winslow, adds, “Inventory in certain price points is beginning to show signs of shrinking. Sellers may incorrectly believe that declining inventory equals higher prices, and perhaps they should sell later, at a much higher price. However, waiting to list a home brings the future potential risk of higher interest rates.”
Below are two charts showing statistics for Maine and its 16 counties. The first chart lists statistics for the month of January only, statewide. The second chart compares the number of existing, single-family homes sold (units) and volume (MSP) during the months of November 1, 2011 to January 31, 2012 and November 1, 2012 to January 31, 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.