DOUBLE-DIGIT REAL ESTATE GAINS STATEWIDE – SALES UP 12.63 PERCENT IN MARCH

Buyers of Maine real estate have entered the spring market in force, leading to double-digit sales gains during the month of March. Maine Listings today reported a 12.63 percent increase in single-family existing home sales compared to one year ago. The statewide median sales price (MSP) dipped 4.71 percent to $162,000. The MSP indicates that half of the homes were sold for more and half sold for less.

According to the National Association of Realtors, single-family existing home sales are down 7.3 percent across the country. The national MSP rose 7.4 percent to $198,200 last month. Regionally, sales in the Northeast dipped 4.8 percent. The regional MSP increased 3.2 percent to $244,700.

Angelia Levesque, President of the Maine Association of Realtors, said the spring weather has ushered in “an increase in sales for many markets throughout the state. New homes are listed daily, and this is one of the best times of the year to sell a home.”

Levesque, a Realtor with Better Homes and Gardens Real Estate/The Masiello Group in Bangor, mentioned that sellers should take note of the Maine Open House Weekend, coming up May 3rd – 4th. “It’s a great time to spruce up your home, paint the front door, rake the yard and plant a few flowers—buyers are out looking, and you’ll want your home to shine.” Visit www.MaineListings.com to view open house listings and more.

Below are two charts showing statistics for Maine and its 16 counties. The first chart lists statistics for the month of March only, statewide. The second chart compares the number of existing, single-family homes sold (units) and volume (MSP) during the “rolling quarter” months of January through March of 2013 and 2014.

Source: Maine Real Estate Information System, Inc. (d/b/a Maine Listings). Note: Maine Listings, a subsidiary of the Maine Association of REALTORS, is a statewide Multiple Listing Service with over 4,100 licensees inputting active and sold property listing data. Statistics reflect properties reported as sold in the system within the time periods indicated.