Maine home sales fall 21 percent in 2008

Posted Jan. 27, 2009, at 3:37 p.m.

SOUTH PORTLAND, Maine — Existing home sales fell 21 percent in Maine in 2008, but the median sales price for those homes fell by only 7.2 percent.

The Maine Association of Realtors reported Tuesday that real estate agents sold 9,502 homes last year, down from 12,014 in 2007. The median sales price was $180,000, down from $194,000 in 2007.

Home sales fell sharper in Maine than the nation as a whole, but prices fell less severely in Maine. The National Association of Realtors says home sales nationwide fell 13.1 percent, with prices falling 9.3 percent.

In Maine, home sales fell in all 16 counties, while the sales price fell in all but one county. Home prices grew 9 percent in Aroostook County to $92,750, but the county still has the lowest home prices in the state.