Maine home sales increase nearly 14 percent in April

By Whit Richardson, BDN Staff
Posted May 23, 2013, at 5:59 p.m.

Sales of single-family existing homes in Maine increased nearly 14 percent in April when compared with the same month the year before, according to new figures released this week.

Brokers sold 937 homes in April, compared with 824 homes sold in April 2012, a 13.7 percent increase, according to the Maine Association of Realtors.

The median sales price of Maine homes sold in April 2013 was $174,900, a 4.14 percent increase over the same metric last April.

Nationally, home sales increased 9 percent in April, while the median sales price increased 11 percent to $193,300, according to the National Association of Realtors.

The second-home market in midcoast Maine has helped that region’s real estate market pick up steam.

“The market in Maine continues to improve,” Bart Stevens, president of the Maine Association of Realtors, said in a statement. “Due to extremely attractive mortgage rates, more buyers are also making ‘quality of life’ investments by purchasing cottages, camps and other recreational properties.”

Stevens, who owns Century 21 Nason Realty in Winslow, said sellers are pricing their properties to the market conditions and that “multiple-offer situations are becoming more frequent” in many markets.

http://bangordailynews.com/2013/05/23/business/maine-home-sales-increase-nearly-14-percent-in-april/ printed on April 16, 2014