" " " Maine's Waterfront Real Estate News: September 2016

Friday, September 23, 2016

Sales of single-family Maine homes rise a healthy 10.8 percent

The median sales price also rose in August, to $197,000, as low interest rates buoyed the housing market.

Read ArticlThe sale of single-family homes in Maine continued to increase both in the volume of transactions and in price last month.

The Maine Association of Realtors said sales of existing homes in August increased 10.78 percent over the same month last year, while the median sales price ticked up 5.35 percent to $197,000. A total of 1,840 Maine homes changed hands last month.

 “Maine’s real estate market, overall, is healthy due to continued buyer confidence and very low interest rates,” Ed Gardner, president of the Maine Association of Realtors, said in a release.

Nationally, single-family home sales rose only 0.6 percent, while in New England it was 6.1 percent. The national median sales price was $242,200, a 5.3 percent increase over August 2015, and in New England it rose 0.8 percent to $274,100.

“We are experiencing movement in all segments of the market, including seasonal properties and land parcels,” he said. “Real estate continues to be a great long-term financial investment – and quality of life investment. We expect markets to remain steady as households and investors take advantage of the tax incentives for real estate ownership through the end of the year.”