Real estate agents across Maine reported 1,960 sales of existing, single-family homes in June, an increase of 9.6 percent compared with a year earlier. The median price for those homes rose 5.5 percent to $198,000, according to a report issued Thursday by the Maine Association of Realtors. The median indicates that half of the homes sold for more and half sold for less.
“As the data (show), real estate sales and values continue to be strong, and conversations with Realtors across Maine indicate continued confidence in the marketplace,” association President Ed Gardner said in a news release. “New construction, including spec(ulative) homes, are more prevalent than we’ve experienced in recent years. The ‘days on market’ for sold properties has been declining during 2016, indicating qualified buyers are making their moves.”
For the three-month period ending June 30, home sales in Maine were up 18.3 percent from the same period of 2015, and the median price increased by 3.3 percent to $190,000, according to the report.
Regionally, two counties had sales increases of at least 50 percent for the three-month period. Sales were up 55.6 percent in Franklin County compared with a year earlier, and they increased by 51 percent in Lincoln County. No counties experienced a decrease in home sales, according to the report.
Changes in median sales price varied more widely from one county to the next. In Knox County, the median price for the three-month period increased by 22 percent to $225,000, the biggest price boost of any county. The biggest decrease in median price was in Washington County, where it fell 14.1 percent to $85,000.
Regionally, the Northeast experienced a 5.6 increase in June home sales and a median price of $284,800, up 1.4 percent from June 2015, according to the National Association of Realtors.
Nationwide, sales increased by 3.1 percent in June, and the median price rose by 5 percent to $284,800, it said.