Maine Home Sales Increase More Than 17% In September With Prices up 6%

AUGUSTA (October 22, 2015)—Sales of single-family homes in Maine jumped by double-digits last month. Maine Listings today reported a 17.16 percent increase in sales across the state during the month of September 2015. The median sales price (MSP) for those homes sold reached $185,450—a rise of 5.97 percent over September 2014. The MSP indicates that half of the homes were sold for more and half sold for less.

Nationally, sales are up 9.6 percent from September 2014. The national MSP rose 6.6 percent to $223,500. The regional Northeast experienced a sales jump of 11.8 percent, and the regional MSP of $256,500 represents an increase of 4.0 percent.

Marie Flaherty, President of the Maine Association of Realtors, said, “With refreshed market confidence, many sellers have been prompted to place their homes on the market. Even with the additional new construction Maine is experiencing, our existing home market supply is below five-year averages in many areas.”

Flaherty added, “An increased interest in purchasing second homes has helped markets beyond the city limits. Stable market conditions and the discussion of increasing interest rates are part of some decisions as well.”

Below are two charts showing statistics for Maine and its 16 counties. The first chart lists statistics for the month of September 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 July 1, 2014 to September 30, 2014 and July 1, 2015 to September 30, 2015.