Maine Home Sales Up Over 18% In June

SOUTH PORTLAND (July 22, 2015)—Sales of single-family existing homes in Maine jumped by hefty double-digits in June. According to Maine Listings, 1,788 homes changed hands last month, resulting in an 18.18 percent rise in sales. The statewide median sales price (MSP) for homes sold during the month of June increased 1.46 percent to $187,700. The MSP indicates that half of the homes were sold for more and half sold for less.

The National Association of Realtors today reported a nationwide single-family existing home sales increase of 9.8 percent. The national MSP also rose 6.6 percent in June to $237,700. Regionally, the Northeast experienced a 12.5 percent uptick in sales, while the regional MSP increased 3.9 percent to $281,200.

Marie Flaherty, 2015 President of the Maine Association of Realtors, said, “sellers now have more confidence to make a move they have been considering for a long time. Many are highly-motivated to relocate, and they have strategically priced their homes to leave less room for negotiation, which they hope will result in a faster sale.”

Flaherty, a Realtor with The Flaherty Group, said “Buyers should be prepared to make their best offer, since the seller or their agent are not required to notify them of the existence of other offers. If a home is in a highly desirable location, well presented and priced at the market, there are often multiple buyers competing for the property. With the limited supply of homes in some areas, it’s important to enlist the services of a highly-skilled Realtor to help ensure a successful transaction.”

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