Maine Home Sales Up 46% in March

Statewide Median Sales Price increases nearly 10%

SOUTH PORTLAND (April 22, 2010)— Maine is showing positive growth in both unit sales and the median sales price of single-family existing homes during the month of March 2010. According to the Maine Real Estate Information System, Inc. (MREIS), 815 homes sold last month—a gain of 46.06 percent compared to March 2009. The median sales price reached $164,900, up 9.93 percent from March 2009’s price of $150,000. The median sales price indicates that half of the homes were sold for more and half sold for less.

Nationally, single-family existing homes sales rose 13.3 percent. The National Association of Realtors (NAR) reports the national median sales price increased 0.6 percent to $170,700 in March 2010. Regionally, sales in the Northeast were up 25.4 percent and the regional median sales price increased 8.9 percent to $249,800 in March 2010

Alan Peoples of Coldwell Banker Residential Brokerage in Portland relays, “The economic numbers for March and the rolling quarter are strongly positive and April is likely to be more of the same. These numbers reflect momentum from the first time and repeat buyer tax credit programs, which end at the end of April.” The increase in the median home sales price shows increased sales of higher priced homes in Maine from the same time period in 2009.

For more information on Maine waterfront real estate, go to www.WaterfrontPropertiesOfMaine.com.