MAINE HOME SALES INCREASED 7.25 PERCENT IN MAY

By United Realty | Jun 23, 2014
Roland Littlefield and Fran Riley, Brokers and Owners of United Realty

 

 

SOUTH PORTLAND (June 23, 2014) — Home affordability in Maine remains favorable for buyers; single-family existing home sales jumped 7.25 percent last month. According to Maine Listings, 1,302 homes changed hands in May. Realtors reported a median sales price (MSP) of $169,950—a 4.79 dip in the past 12 months. The MSP indicates that half of the homes were sold for more and half sold for less.

Nationally, sales decreased 5.7 percent in the past year. The National Association of Realtors today reported a national MSP of $213,600—a rise of 4.9 percent since May 2013. Sales in the Northeast were down 3.1 percent and the regional MSP eased 0.9 percent to $256,700.

Angelia Levesque, President of the Maine Association of Realtors, said, “With summer finally here, and tourists entering the buying market, we are seeing volume increases. High inventory levels in some areas of the state are keeping prices down, and the market is adjusting. When you combine that information with low interest rates, it indicates a great time to buy.”

Levesque said, “Buyers want to be close enough to walk to shops, restaurants and services. To entice that market, bump up your home’s curb appeal. Paint the front door, plant flowers and keep the lawn neat and tidy.”

Below are two charts showing statistics for Maine and its 16 counties. The first chart lists statistics for the month of May only, statewide. The second chart compares the number of existing, single-family homes sold (units) and volume (MSP) during the “rolling quarter” months of March through May of 2013 and 2014.

 

 

 

 

Maine Real Estate Statistics – May 2014 Housing Report—6/23/14—Page 2 of 2

 

 

MAY ONLY CHART

May 1-31, 2013 – May 1-31, 2014

STATEWIDE 1214 1302 7.25% $178,500 $169,950 -4.79%

ROLLING QUARTER CHART

From March 1, 2013 – May 31, 2013 and

March 1, 2014 – May 31, 2014

County # Units Sold # Units Sold % Chng MSP MSP % Chng

2013 2014 2013 2014

STATEWIDE 2943 3209 9.04% $175,000 $167,500 -4.29%

Androscoggin 186 221 18.82% $135,500 $126,000 -7.01%

Aroostook 88 96 9.09% $85,250 $78,500 -7.92%

Cumberland 831 788 -5.17% $246,000 $235,000 -4.47%

Franklin 61 74 21.31% $125,000 $126,000 0.80%

Hancock 119 139 16.81% $175,000 $165,000 -5.71%

Kennebec 239 255 6.69% $126,000 $145,000 15.08%

Knox 93 90 -3.23% $160,000 $167,738 4.84%

Lincoln 86 111 29.07% $231,000 $180,000 -22.08%

Oxford 121 130 7.44% $141,000 $118,250 -16.13%

Penobscot 264 300 13.64% $128,825 $118,750 -7.82%

Piscataquis 42 55 30.95% $90,000 $105,700 17.44%

Sagadahoc 83 104 25.30% $177,000 $161,500 -8.76%

Somerset 91 99 8.79% $89,900 $74,500 -17.13%

Waldo 61 92 50.82% $156,000 $125,250 -19.71%

Washington 47 45 -4.26% $99,000 $85,000 -14.14%

York 531 610 14.88% $216,500 $206,500 -4.62%

Source: Maine Real Estate Information System, Inc. (d/b/a Maine Listings). Note: Maine Listings, a subsidiary of the Maine Association of REALTORS, is a statewide Multiple Listing Service with over 4,100 licensees inputting active and sold property listing data. Statistics reflect properties reported as sold in the system within the time periods indicated

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