Home sales up 5.9% in October
Single-family home sales in October continued to outpace last year’s performance, though the year-over-year growth was more moderate than recent months.
Maine Listings reported Realtors in the state sold 1,246 homes in October, up from 1,177 homes sold during October 2012. The median sales price of those homes rose 3.4% to $176,250, up from $170,500. Home sales jumped 25% year-over-year in September and 20% in August.
Bart Stevens, president of the Maine Association of Realtors, said housing inventory continues to rise and that a majority of distressed properties are no longer on the market.
“Things appear to be moving back toward a more normal real estate environment,” Stevens said in a press release.
Nationally, home sales were up 5.2% in October and the median sales price rose 12.7% to $199,500. In the Northeast, sales volume rose 11.7% while the median sales price rose 7.4% to $247,300.
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