Home sales jump 17% over last May
Nearly 200 more single-family homes in Maine changed hands this May compared with the same month last year.
The 17% increase in the number of homes sold Maine is ahead of the increase nationally. Home sales increased 12.7% nationwide, according to the latest figures from the Maine Real Estate Information System.
Bart Stevens, president of the Maine Association of Realtors, attributed the increase to low interest rates and fairly stable inventory.
"This allows existing homeowners to move forward with their real estate changes, which had been placed on hold for several years," Stevens said in a press release. "The strong market in other areas of New England is now allowing those buyers the opportunity to pursue their dream property here in Maine."
Of those transactions, the median sale price was largely the same, increasing 0.28%, from $178,000 last year to $178,500 this year.
Throughout the Northeast, MREIS reported that the home sales volume rose 8.3% and the median sale prices rose 12.3% over last year, to $269,600.
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