December 10, 2018
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Maine home sales jump in typically slow February

BDN File | BDN
BDN File | BDN
A home for sale sits on the corner of Graham Avenue and Boutelle Road in Bangor in June of 2011.

PORTLAND, Maine — The number of Maine homes that changed hands in February jumped about 22 percent from one year ago, a sharp increase for what typically is the slowest month of the year.

The jump in sales volume was paired with a drop in the median price for those homes. It’s the first time since 2012 that the median price for February was lower than during the same month the year before.

Home sales increased to 891 in February, up from 732 last year. The increase in February sales volume of homes outpaced a national 2 percent increase and a 5 percent increase across the Northeast.

Nationally, the median sale price rose by about 4.3 percent to $212,300. The median price regionally dropped by about 1 percent, to $239,700.

The median sale price in Maine was lower than both figures and dropped 4.4 percent in February, to $160,000.

February typically is the slowest month of the year for home sales. From 2009 to 2016, it has the lowest average number of transactions and tends to have the lowest prices as well.

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