" " " Maine's Waterfront Real Estate News: Maine home sales, median prices rise in September

Thursday, November 12, 2015

Maine home sales, median prices rise in September

Sales of homes in Maine last month increased by 14% compared to the year before, while the median price increased by 6.7% to $189,900, RE/MAX Integra of New England said Thursday.

Across New England, total sales were up 15% from September 2014 through last month, according to the report, which includes single-family homes and condos.

A different real estate report, released Thursday by the Maine Realtors Association, said sales of just single-family homes in Maine were up more than 17% in September compared to the previous year.

Marie Flaherty, president of the Maine Association of Realtors, said in the report that many sellers have put their homes on the market because of renewed market confidence. Even with new construction in Maine, the existing home market supply is below five-year averages in many areas, she said.

Cumberland and York counties saw the most sales of single-family homes, more than doubling the total in any other county and growing at 20% and 12%, respectively. But other counties saw larger year-over-year growth.

Sales in Washington County increased by 41% from a year earlier, Lincoln County's sales increased 34% and Knox County's sales increased 32%.

"An increased interest in purchasing second homes has helped markets beyond the city limits," Flaherty said in the report. "Stable market conditions and the discussion of increasing interest rates are part of some decisions as well."

"While we're seeing the market slow down, as it typically does after the busy summer season, it's encouraging to see continued year-over-year growth as we move into the fall,"


No comments: