September 25, 2009
August home sales up, prices fall
By The Mainebiz News Staff
Maine home sales increased for the third consecutive month in August, but the median sales price continues its downward slide, according to a new report from the Maine Association of Realtors.
In August, Maine Realtors sold 1,095 existing homes, a nearly 10% increase from the number of homes sold in August 2008. But during the same period, the median sales price for those homes fell 9.6%, from $180,000 to $162,800. The $8,000 tax credit for first-time homebuyers helped drive sales, according to the press release.
Nationally, single-family home sales are up 2.5% in August, while the median sales price fell 12.1% during the same period, to $177,500.
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