PORTLAND, Maine — Single-family home sales and the median price for those homes both rose in March, which the head of the Maine Association of Realtors said signals a stabilizing housing market.
The median sale price for the 950 homes that changed hands in March was $170,000, up 4.94 percent from $162,000 for March 2014.
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The number of homes sold was up 6.5 percent from 892 one year ago.
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The year-to-year price increase was the largest so far in 2015 and the second month in a row that both home sales and prices increased.
“Historically, healthy market price appreciation has been approximately 4 percent a year, which we are experiencing now,” said Marie Flaherty, president of the Maine Association of Realtors.
For the first three months of the year, home sales volume was up 9.1 percent and median sales prices were up 1.2 percent compared with the same period one year earlier.
For that period, home sales prices were down in seven counties and up in nine, with the median prices rising about 25 percent across 63 homes sold in Sagadahoc County and 79 homes in Somerset County. The largest drops in prices were in Franklin and Hancock counties, down about 13 percent.
Home sales volume was up the most in Aroostook (33.8 percent) and Washington (35.5 percent) counties and down the most in Sagadahoc (-14.9 percent) and Kennebec (-10.2 percent).