Single-family home sales continued on a meteoric rise in April compared with the same month last year, rising close to 36 percent, according to data released Monday by the Maine Association of Realtors.
The statewide median sales price was up 17 percent to $276,000. That price indicates that half of the homes were sold for more and half sold for less.
While the comparison is to last April, when many businesses were shut down by the pandemic, it still is 13 percent higher than pre-pandemic figures in April 2019.
Buyers snapped up homes quickly, with properties being on the market for eight days compared to 25 days last April and 46 days in April 2019. But prices and market activity may return to pre-pandemic levels going forward.
“We expect that improving COVID metrics and back-to-the-office vs. telework decisions may help stabilize the market urgency and upward pricing pressures that we’re experiencing,” Aaron Bolster, president of the association, said.
Rural Maine counties continued to see strong sales, with Washington County seeing an almost doubling of homes to 128 sold from February through April of this year compared with the same three months in 2019. Hancock, Lincoln, Waldo and Aroostook counties all saw more than 60 percent rises in units sold.
Median sales prices for the three months were up the most in Sagadahoc by 38 percent to $325,000.
Cumberland County saw sales rise 2.45 percent to 669 units and median sales prices rise 22 percent to $410,000.
Penobscot County saw sales rise almost 35 percent to 417 units and median sales prices rise almost 27 percent to $187,975.
Sales also were strong throughout the country. The National Association of Realtors reported a sales rise of 28.9 percent and median sales price rise 20.3 percent to $347,400 in comparing last month to the previous April.