Maine Home Sales and Values Up In 2017

PORTLAND, ME (Jan 24, 2018) Legacy Properties Sotheby’s International Realty, with offices in PortlandKennebunkBrunswickDamariscotta, and Camden,  has  announced that according to Maine Listings, Realtors across the state sold 1,576 homes during November, which represents an increase of 11.46 percent from a year ago. The median sales price (MSP) for those homes rose 4.24 percent to $200,000. The MSP indicates that half of the homes were sold for more and half sold for less.AUGUSTA (Jan.24, 2018)—Despite tight inventory of single-family existing homes for sale at the beginning of 2017, statewide sales volume for the year ended in positive territory, with a 0.72 percent increase. According to Maine Listings, the median sales price (MSP) for homes sold in 2017 reached $200,000, a 5.6 percent increase in one year. The MSP indicates that half of the homes were sold for more and half sold for less. Statewide sales for the month of December 2017 were up 2.02 percent while the statewide MSP increased 9.19 percent to $202,000 compared to December 2016.

“2017 was a year of downs and ups,” says Kim Gleason, Broker/Owner of McAllister Real Estate in Hallowell and 2018 President of the Maine Association of REALTORS®. “With tight for-sale inventory for the first six months of 2017, buyers were on the sidelines. As inventory constraints eased, the sales volume was very strong in the third and fourth quarters. The end result is that 2017 had the most single-family residential sales over the twenty years we’ve been tracking the data.

“Home values showed upward movement throughout 2017 with the
statewide annual median sales price also reaching an historical high. The market momentum is in place for a terrific start to 2018.”

The National Association of Realtors today announced a national sales increase of 1.0 percent during the month of December, and the MSP of $248,1000 represents a 5.8 percent rise compared to December 2016. Regionally, sales in the Northeast dipped 2.6 percent and the regional MSP rose 3.0 percent to $261,400.

Below are two charts showing statistics for Maine and its 16 counties. The first chart lists statistics for the month of December only, statewide. The second chart compares the number of existing, single-family homes sold (units) and volume (MSP) during the calendar years 2016 and 2017.

Legacy Properties Sotheby’s International Realty can be reached at 207-780-8900, by email at info@legacysir.comand via our website LegacySIR.comLegacy Properties Sotheby’s International Realty, with offices in Portland, Kennebunk, Damariscotta, Brunswick, and Camden, is Maine’s leading luxury and lifestyle property company with more than 70 agents and 5 offices serving Maine coastal communities from York County to Hancock County as well as the New Hampshire Seacoast.

Offices Located at:

2 City Center, Portland, ME 04101 – 207-780-8900 (Greater Portland Real Estate)

141 Maine Street, Brunswick, ME 04011 – 207- (Mid-Coast Maine Real Estate)

150 Port Road, Lower Village, Kennebunk, ME 04043 – 207-967-0934 (York, Ogunquit, Kittery, the Kennebunks, Biddeford and Seacoast New Hampshire)

170 Main Street, Damariscotta, ME 04543 – 207-563-2775 (Bristol, Christmas Cove, Boothbay Harbor)

46 Bay View Street, Camden, ME 04843 – 207-230-1003 (Camden, Rockport, Mount Desert, Mid-Coast)

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