Median home sales price in Maine rises for second month in a row

Posted Aug. 21, 2014, at 3:13 p.m.

PORTLAND, Maine — The median price of single-family Maine homes sold in July continued to outpace July 2013 after a drop in prices from March through May.

The latest figures from Maine Listings show the median sales price hit $181,500 in July, up 1.4 percent from the previous year. Nationally, median sales prices rose at an even faster 5.1 percent and at a pace of 2.4 percent across all the New England states.

Total sales dropped nationally and in New England for the month, while Maine’s total sales rose about 2 percent.

As sales prices rise, Maine Association of Realtors President Angelia Levesque said that more sellers are putting homes on the market as interest rates remain low.

While the statewide figures show home sales are on the rise, totals for the past three months show the market in Penobscot County has been weaker than last year, with total sales down about 11 percent and a drop in the median sales price of 7.5 percent, compared with the same three months last year.

Five of Maine’s 16 counties showed an increase in both sales volume and median price for the past three months. They are: Cumberland, Hancock, Kennebec, Piscataquis and Sagadahoc.

 

SEE COMMENTS →

ADVERTISEMENT | Grow your business
ADVERTISEMENT | Grow your business

Similar Articles

More in Business