Home sales rise in Maine, but prices decline

By Meg Haskell, BDN Staff
Posted Sept. 25, 2009, at 12:35 a.m.

Sales of single-family homes in Maine continue to increase, according to data released Thursday by the Maine Real Estate Information System Inc., but the average selling price of those homes has dropped significantly since this time last year.

Statewide, Maine real estate agents sold 1,095 existing homes in August, compared with 955 homes in August 2008, for an increase of 9.95 percent. But the median price — with half of all homes selling below and half above — dropped from $180,000 to $162,800, a decrease of 9.56 percent.

According to the Maine Association of Realtors, August marks the third consecutive month when home sales in the state have increased.

The report released Thursday gave home sales figures for Maine counties during the June 1-Aug. 31 quarter as compared with the same period in 2008.

ä In Aroostook County during the period June 1, 2008, to Aug. 31, 2008, 96 homes sold with a median price of $96,000. During the same period this year, 112 homes sold with a median price of $89,000.

ä In Hancock County, 114 homes sold during those three summer months of 2008, and 104 in 2009. The median price dropped from $211,936 to $168,500.

ä In Knox County, sales decreased from 108 in 2008 to 100 in 2009, with the median price dropping from $200,000 to $183,750.

ä In Penobscot County, sales increased from 335 in 2008 to 392 in 2009, with the median price dropping from $141,000 to $135,000.

ä In Piscataquis County, sales numbered 48 in 2008 and 58 in 2009, with the median price dropping from $94,000 to $72,000.

ä In Somerset County, sales rose from 100 in 2008 to 109 in 2009, with the median price dropping from $123,250 to $100,000.

ä In Waldo County, sales rose from 68 in 2008 to 85 in 2009, with the median price dropping from $166,500 to $149,900.

ä In Washington County, home sales dropped from 17 in 2008 to 11 in 2009, with the median price dropping from $135,000 to $35,000.

Joan Chrane of the RE/MAX Riverside office in Topsham said an $8,000 federal tax credit for first-time homebuyers this year helped drive sales up.

mhaskell@bangordailynews.net

990-8291

http://bangordailynews.com/2009/09/25/business/home-sales-rise-in-maine-but-prices-decline/ printed on November 23, 2014