Maine home sales climb 12%
Maine home sales in July increased nearly 12% year-over-year, the second consecutive month of heightened activity in the residential real estate market. However, the median sales price for those homes dropped nearly 14% during the same time period.
There were 1,154 single-family homes sold last month, an 11.8% increase from July 2008. The median sales price for those homes dropped during the same period 13.8%, to $165,500, according to a press release from the Maine Association of Realtors. July marks the second month of increased home sales, prompting some Realtors to predict the home sale slump is at an end. "If you are looking for the bottom of the Maine real estate market, you may have missed it," Jeff Wooster, of Lynam Real Estate Agency in Bar Harbor, said in the release. "Buyers are back in the market and real estate is climbing out."
The trend in Maine was seen throughout the country. Nationally, home sales increased 5% in July, while the median sales price dropped 14.6%, to $178,300, according to a press release from the National Association of Realtors. In the Northeast, home sales rose 3.3% and the regional median sales price dropped 15%, to $236,700, according to the MAR.
Most Recent
Most Recent
Comments