Maine home sales fall in March

Posted April 21, 2011, at 9:48 a.m.

SOUTH PORTLAND, Maine — The Maine Association of Realtors says sales of existing single-family homes fell 21 percent in March from a year ago, while the median sales price fell about 3 percent.

The group said Thursday that real estate agents sold 646 homes last month, down from 815 in March 2010. The median sales price was $159,700, down from $164,900.

Association President Mike LePage said the decrease was expected because last year’s sales were invigorated by an $8,000 federal tax credit for homebuyers.

The association says home sales for the first three months of the year were down 7 percent from the same period last year, while the median sales price was off by less than ½ of 1 percent.