Maine Home Sales Up 20% In July

AUGUSTA (August 20, 2015)—Home sales continue to rise at impressive rates across the state of Maine. Maine Listings today announced Realtors sold 1,749 single-family existing homes during the month of July 2014, a 20.21 percent jump from July 2014. The statewide median sales price for homes sold during the month of July 2015 was $188,900—an increase of 4.08 percent compared to July 2014. The MSP indicates that half of the homes were sold for more and half sold for less.

Nationally, sales of single-family existing homes are up 11 percent from last July. According to the National Association of Realtors, the national MSP rose 5.8 percent to $235,500. The regional Northeast experienced a rise in sales of 9.4 percent and a 1.3 increase in the regional MSP to $277,200.

Marie Flaherty, 2015 President of the Maine Association of Realtors, said, “Although the market is stable, buyers are more informed than ever. In order to sell a home in a reasonable time frame, it is important to price it appropriately. Your local Realtor is your best source for the relevant data and pricing advice.”

Below are two charts showing statistics for Maine and its 16 counties. The first chart lists statistics for the month of July 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 May 1, 2014 to July 31, 2014 and May 1, 2015 to July 31, 2015.