" " " Maine's Waterfront Real Estate News: Median Sales Price of Single-Family Homes in Maine Up 10.98% in June

Sunday, July 29, 2018

Median Sales Price of Single-Family Homes in Maine Up 10.98% in June


AUGUSTA (July 23, 2018)The Maine summer real estate sales season is in full swing. According to the Maine Association of REALTORS®, REALTORS® around the state sold 1,937 single-family existing homes in June 2018, an increase of 2.54 percent over June 2017. Home values experienced double-digit gains, with a 10.98 percent jump in the median sales price to $227,500. The MSP indicates that half of the homes were sold for more and half sold for less.

"It’s been a strong year for much of Maine and inventory is moving quickly," says Kim Gleason, 2018 President of the Maine Association of REALTORS® and Broker/Owner of McAllister Real Estate in Hallowell. "The number of sales during the first six months of 2018 are nearly 2 percent ahead of the first six months of 2017, which was Maine’s best ever.

"In some areas of Maine, the markets are tightmultiple offers are prevalent, and prices show upward pressure."


The National Association of Realtors today reported a national sales dip of 2.3 percent, while prices rose 5.2 percent to an MSP of $279,300. Regionally, home sales in the Northeast eased 4.0 percent over the past year and the regional MSP increased 3.3 percent to $305,900.
"Maine real estate continues to be a great investment, and those thinking of buying or selling need to consult early on with a REALTOR® who is knowledgeable of the local area for the best strategy and successful outcome," adds Gleason.

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 of April, May and June of 2017 and 2018. (Continued)

Maine Real Estate Statistics June 2018 Housing Report7/23/18Page 2 of 2 JUNE ONLY CHART
June 1-30, 2017 June 1-30, 2018
NUMBER OF UNITS MEDIAN SALES PRICE
2017 2018 %Change 2017 2018 %Change
STATEWIDE 1889 1937 2.54% $205,000 $227,500 10.98%
ROLLING QUARTER CHART
From April 1, 2017 June 30, 2017 and
April 1, 2018 June 30, 2018
NUMBER OF UNITS MEDIAN SALES PRICE
2017 2018 %Change 2017 2018 %Change
STATEWIDE 4519 4641 2.70% $ 197,400 $ 218,500 10.69%
Androscoggin 283 300 6.01% $ 160,000 $ 175,000 9.38%
Aroostook 131 173 32.06% $ 90,000 $ 97,000 7.78%
Cumberland 1037 1115 7.52% $ 295,050 $ 312,000 5.74%
Franklin 103 110 6.80% $ 118,000 $ 138,500 17.37%
Hancock 200 191 -4.50% $ 194,500 $ 200,000 2.83%
Kennebec 425 438 3.06% $ 147,500 $ 162,250 10.00%
Knox 161 171 6.21% $ 210,000 $ 245,750 17.02%
Lincoln 148 122 -17.57% $ 191,000 $ 221,250 15.84%
Oxford 212 192 -9.43% $ 140,000 $ 149,000 6.43%
Penobscot 464 466 0.43% $ 150,000 $ 139,000 -7.33%
Piscataquis 66 80 21.21% $ 102,500 $ 110,000 7.32%
Sagadahoc 140 142 1.43% $ 219,250 $ 235,000 7.18%
Somerset 164 156 -4.88% $ 105,000 $ 115,750 10.24%
Waldo 113 104 -7.96% $ 157,000 $ 186,000 18.47%
Washington 90 90 0.00% $ 112,250 $ 112,450 0.18%
York 782 791 1.15% $ 255,000 $ 279,900 9.76%

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