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MAINE SINGLE FAMILY HOME SALES UP 6.5%
REAL ESTATE PRICES INCREASE 4.94%
SOUTH PORTLAND (April 22, 2015)—Healthy real estate market conditions led to gains in both March sales and prices for Maine’s single-family existing homes. Maine Listings today reported a 6.5 percent uptick in sales over the past 12 months. Median sales prices (MSP) for those homes increased 4.94 percent to $170,000. The MSP indicates that half of the homes were sold for more and half sold for less.
Nationally, single-family existing home sales rose 10.9 percent in the past year. According to the National Association of Realtors, the national MSP of $213,500 represents an 8.7 percent price gain. Sales in the regional Northeast increased 1.6 percent and the regional MSP of $240,500 indicates a 1.6 percent rise in prices. Marie Flaherty, 2015 President of the Maine Association of Realtors, said, “The new statistics provide further validation that we are in a stable market currently. Historically, healthy market price appreciation has been approximately four percent a year, which we are experiencing now.”
To help buyers and sellers alike, the Maine Association of Realtors is hosting Maine Open House Weekend on May 2-3, 2015. “This special event offers sellers an excellent opportunity to showcase their homes, and provides buyers with a wealth of tours, information and education to make a sensible home decision. If you are in the market to sell your home, contact us to schedule your open house for May 2-3.
The two charts above show statistics for Maine and its 16 counties. The first chart lists statistics for the month of March only, statewide. The second chart compares the number of existing, single-family homes sold (units) and volume (MSP) during the “rolling quarter” the months of January 1, 2014 to March 31, 2014 and January 1, 2015 to March 31, 2015. Maine Home Sales Jan- Mar 2014 vs 2015
Call us, your local professionals if you have any questions or would like to have a complimentary Price Trend Analysis done.