June 24, 2018
Business Latest News | Poll Questions | Border Patrol | Energy Scam | Toxic Moths

Maine home sales post double-digit growth

John Clarke Russ | BDN
John Clarke Russ | BDN
A home for sale in 2011 in Bangor


Realtors in Maine sold 17 percent more homes in May than they did last year, according to new statistics from the Maine Association of Realtors.

Last month realtors sold 1,214 single-family, existing homes — an increase compared with the 1,035 sold in May 2012. That jump is 5 percent higher than the national average.

During the same period, the statewide median sales price increased 0.28 percent to $178,500.

“First-time homebuyers continue to be a driving force in most areas of the state, due to continued low interest rates and relatively stable inventory,” Bart Stevens, president of the Maine Association of Realtors and owner of Century 21 Nason Realty in Winslow, said in a statement. “This allows existing homeowners to move forward with their real estate changes, which had been placed on hold for several years. The strong market in other areas of New England is now allowing those buyers the opportunity to pursue their dream property here in Maine.”

Nationally, sales of single-family homes increased 12.7 percent in May compared to May 2012. The national median sales price increased 15.8 percent to $208,700, according to the National Association of Realtors. Home sales in the Northeast region were up 8.3 percent and prices jumped 12.3 percent to a regional median sales price of $269,600.

Have feedback? Want to know more? Send us ideas for follow-up stories.

You may also like