Home sales in Maine drop 9.5 percent in May

Posted June 24, 2009, at 9:27 a.m.

SOUTH PORTLAND, Maine — Existing single-family home sales in Maine fell 9.5 percent last month compared with May 2008. The median home price dropped 12 percent, to $160,000.

The Maine Association of Realtors also reported Tuesday that the 877 home sales last month represent a 44 percent increase over the 610 units sold in April of this year.

For the three-month period that ended May 31, sales declines were reported in 14 counties, with only Washington and Piscataquis counties showing increases.

Knox County was the only county in which the median sales price rose over the three months.