Maine home prices rose 3.54% in June
Maine real estate continues to rise in value, even with some slight declines in sales.
Maine Listings reported that single-family existing homes across the state experienced a 3.54% increase in the median sales price to $205,000, based on a June 2017 to June 2016 comparison. The median sales price indicates that half of the homes were sold for more and half sold for less.
Total number of existing single-family homes sold in June declined 3.62% compared to the previous year, with 1,889 units sold in June 2017 compared to 1,960 units sold in June 2016.
“Coming off a record-breaking 2016, our June 2017 numbers show continued strength,” Greg Gosselin, 2017 president of the Maine Association of Realtors, said in a news release. “For the state, the number of homes sold in June 2017 is nearly 8% higher than the most recent three-year June average. Homes that are move-in ready and priced appropriately are quickly under contract. Buyers are plentiful and seeking the long-term financial benefits of home ownership."
According to the National Association of Realtors, home sales across the country in June increased 0.7% compared to June 2016. The national median sales price of $266,200 reflects a 6.6% increase. Regionally, sales in the Northeast increased 1.3% while the regional median sales price rose 4.1% to $296,300.
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