Sales, prices of Maine homes down

Posted April 24, 2009, at 10:32 a.m.

SOUTH PORTLAND, Maine — A real estate group says sales of single-family homes and home prices have both dropped between March 2008 and the same month this year.

The Maine Real Estate Information System says sales were down by 14.2 percent and median prices dropped to $150,000. The median means half the houses in the survey sold for more and half sold for less.

Meanwhile, the number of first-time home buyers in Maine is up.

The percentage decrease in home sales in Maine is more extreme than the national figure, 5.7 percent, between March 2008 and this March. The national median sales price also dropped, to $174,900.

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