AUGUSTA (May 20, 2016)—Double-digit gains in the sales of single-family homes continue across the state of Maine. Maine Realtors sold 1,285 homes in April 2016—an increase of 24.52 percent from last April. Steady prices were also recorded; the statewide median sales price of $180,000 reflects a 1.12 percent increase. The MSP indicates that half of the homes were sold for more and half sold for less.
The National Association of Realtors today reported that sales nationwide were 6.2 percent higher than one year ago. The median sales price for those homes reached $233,700 in April, up 6.2 percent from April 2015. Regionally, the northeastern United States experienced a 17.5% increase in home sales, while the regional median sales price was up 4.1 percent to $263,600.
In response to the April numbers, Ed Gardner, 2016 President of the Maine Association of Realtors, says, “Maine Realtors report active markets with multiple offer situations, the norm for appropriately priced and well-presented homes, in many areas of Maine. ‘ForSale’ inventory levels at all price points are low, and continued low mortgage rates are fueling action by qualified buyers.”
Gardner, Broker/Owner of Ocean Gate Realty LLC, added, “Buyers should not be discouraged by losing in a multiple offer situation, as homes are listed for-sale every day. Confer with your Realtor and charge them to be ready when the next ‘right’ home becomes available. This is a great time of year to purchase a primary or second home and take advantage of the benefits of homeownership.”
Below are two charts showing statistics for Maine and its 16 counties. The first chart lists statistics for the month of April only, statewide. The second chart compares the number of existing, single-family homes sold (units) and volume (MSP) during the rolling quarter of February, March and April of 2015 and 2016.