Maine Home Values Rise 5.26 Percent in January

PORTLAND, ME (Feb 21, 2018) Legacy Properties Sotheby’s International Realty, with offices in PortlandKennebunkBrunswick,  Damariscotta, and Camden,  has  announced that according Maine Listings, sales of single-family existing homes increased 0.21 percent comparing January 2018 to January 2017. The value of those homes, tracked statistically by the Median Sales Price (MSP), indicates a jump in home values of 5.26 percent to an MSP of $200,000 during that same time period. The MSP indicates that half of the homes were sold for more and half sold for less.

“Buyers are anxiously awaiting the increased for-sale inventory that spring traditionally brings,” says Kim Gleason, 2018 President of the Maine Association of REALTORS® and Broker/Owner of McAllister Real Estate in Hallowell. “The January 2018 for-sale inventory is 17 percent below January 2017 due to a strong winter selling season.

“Now is a great time to list your property, because buyers are searching for homes in anticipation of spring. Realtors are reporting that multiple offer situations are common in areas that are at full employment. In Maine’s rural areas, buyers are more cautious, but they are finding great values.”

Nationwide sales have dipped 4.8 percent comparing January 2018 to January 2017. The National Association of Realtors today announced the national MSP in January was $241,700, an increase of 5.7 percent from January 2017. Regionally, sales in the Northeast declined 7.6 percent while the regional MSP of $269,100 represents a climb of 6.8 percent comparing January to January.

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

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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