Maine housing market hits highest point in years
Maine home sales and prices reached high points in June that haven’t been seen for at least a few years.
Sales of existing single-family homes in Maine climbed to 1,788 units in June, an 18.18% increase over the 1,513 units sold in the same month last year, according to the Maine Association of Realtors. The median sales price last month increased 1.46% to $187,700.
Historical data from the association shows that Maine home sales and the median sales price have not reached these levels since before January 2012. The association does not have publicly available information for home sale figures before that month. The Bangor Daily News reported that June’s median sale price was a seven-year high.
“Sellers now have more confidence to make a move they have been considering for a long time,” Marie Flaherty, the association’s president, said in a statement. “Many are highly motivated to relocate, and they have strategically priced their homes to leave less room for negotiation, which they hope will result in a faster sale.”
On a national level, home sales increased 9.8% while the median sales price increased 6.6% to $237,700 during the same period, according to the National Association of Realtors. Sales in the Northeast increased 12.5% while the median sales price increased 3.9% to $281,200.
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