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November 22, 2011

October home sales up 7%

By The Mainebiz News Staff

Home sales last month were up nearly 7% over October 2010, though the median sales price slipped 1%.

According to the Maine Real Estate Information System Inc., a total of 945 single-family homes were sold in October, and the median sales price was $165,000. For the months of August-October, sales jumped the most in Somerset County, with a 38.1% increase over the same period last year. Sales fell the most in Kennebec County, dropping 4.4%. The median sales price rose the highest in Somerset County, by nearly 40%, while median prices dropped the most in Oxford County, sliding nearly 14%.

Nationally, home sales rose 13.8% in October, though the median sales price declined 5.8% to $161,600. In the Northeast, sales rose 1.4%, and the price fell 5.5% to $224,400.

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