" " " Maine's Waterfront Real Estate News: October 2012

Saturday, October 20, 2012

Maine Sales and Prices Up Again..

SOUTH PORTLAND (October 19, 2012)— Real estate statistics continue a positive climb across the state of Maine. According to the Maine Real Estate Information System, Inc. (MREIS), sales of single-family existing homes increased 8.48 percent in September 2012, compared to the same month one year ago. The median sales price (MSP) for those homes rose 6.92 percent to $170,000 in that same time period. The MSP indicates that half of the homes were sold for more and half sold for less. The National Association of Realtors reports a nationwide sales increase of 10.8 percent while the national MSP rose 11.4 percent to $184,300. Regionally, sales are up 7.3 percent in the Northeast; the regional MSP increased 4.1 percent to $238,700. Tina Lucas, 2012 President of the Maine Association of Realtors, relays, “Currently, my market area mirrors the new statistics, as activity has certainly increased. In fact, we are beginning to experience, on occasion, multiple offer situations on well-priced, move-in ready homes in the right location. Sellers feel more confident about entering the market; they have a better sense of what level of value to expect now that the market has more stability.”