Maine trails Northeast in home sales growth
Sales of existing single-family homes in Maine saw a minor increase in May, trailing behind the increase in overall sales for the Northeast.
Maine home sales reached 1,335 units in May, a 2.53% increase over the 1,302 units sold in the same month last year, according to the Maine Realtors Association. The median sales price last month increased 8.86% to $185,000.
The Maine Realtors Association said the latest figures confirm that the summer is ushering an increase in single-family existing home sales, noting that buyers are often looking to close on sales before the school year starts again.
On a national level, home sales increased 9.7%, while the median sales price increased 8.6% to $230,300 during the same period, according to the National Association of Realtors. Sales in the Northeast increased 11.3%, while the median sales price increased 4.8% to $269,000.
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