Home sales soar in September
Maine's single-family home market showed more promise of recovery in September, reflecting a sizable increase in the number of sales, while the median price dropped over last year.
According to the Maine Real Estate Information System, single-family home sales rose 22.74% in September 2009 compared with the same month in 2008. The median price dipped to $167,000 from last September's median price of $177,750, but was 6% higher than August 2009's price of $162,800. Sagadahoc County saw the greatest increase in the number of units sold, an almost 40% increase from September 2008 to this year. Franklin County saw the lowest, with sales down 10.67% over the same period. Nationally, single-family homes sales saw an 7.7% increase over the past 12 months and a median price that dipped 8.1% to $174,900, according to the MREIS release.
Real estate officials are crediting the federal stimulus act's first-time buyer incentive for the increased activity in single-family homes sales. The $8,000, first-time buyer home credit is set to expire Nov. 30.
Read MREIS' full report >>
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