Maine Home Sales up 14% in February

SOUTH PORTLAND (March 23, 2010)— The median sales price of existing single-family homes in Maine remained unchanged during the month of February 2010 compared with February 2009, according to the Maine Real Estate Information System, Inc. While home sales increased by double digits (14.09 percent) in February 2010, the median sales price of $158,000 is the same as one year ago. The median sales price indicates that half of the homes were sold for more and half sold for less.

According to the National Association of Realtors (NAR), existing home sales nationwide rose 4.3 percent in February 2010 compared to one year ago. The national median sales price for those homes dipped 2.1 percent to $164,300. Regionally, sales in the Northeast were up 12 percent and the regional median sales price increased 7.5 percent to $254,700.

“Prices seem to have stabilized somewhat, rates remain within everyone’s reach, and there are plenty of deals to be had, and lenders are working overtime to help secure financing for buyers.”