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.