July 24, 2018
Statewide home values post double-digit gains in June
By Staff
Maine Association of Realtors reported that 1,937 single-family existing homes were sold statewide in June, a 2.54% increase over June 2017. Home values posted double-digit gains, with a 10.98% jump in the median sales price to $227,500.
The median sales price indicates that half of the homes were sold for more and half sold for less.
“It’s been a strong year for much of Maine and inventory is moving quickly,” says Kim Gleason, 2018 president of the Maine Association of Realtors and broker/owner of McAllister Real Estate in Hallowell. “The number of sales during the first six months of 2018 are nearly 2% ahead of the first six months of 2017, which was Maine’s best ever. In some areas of Maine, the markets are tight — multiple offers are prevalent and prices show upward pressure.”
For the first six months of 2018, Maine Listings reported 4,641 single-family units were sold statewide — a 2.7% increase over the 4,519 single-family units sold for the same period in 2017. Median sales price for the same periods were $218,500 in 2018, a 10.69% increase over the $197,400 median sales price in 2017.
National sales dip
The National Association of Realtors reported a national sales dip of 2.3%, while prices rose 5.2% to an median sales price of $279,300. Regionally, home sales in the Northeast eased 4.0% over the past year and the regional median sales price increased 3.3% to $305,900.
Two Maine counties posted double-digit percentage increases in the number of units sold for the second quarter of 2018: Aroostook, reporting 173 units sold for a 32.06% gain over 2017’s 131 units sold; Piscataquis, reporting 80 units sold for 21.21% gain over 2017’s 66 units sold.
Counties showing a decrease in the number of units sold, year over year, for the second quarter were: Hancock (-4.50%); Lincoln (-17.57%); Oxford (9.43%); Somerset (-4.88%); Waldo (-7.96%).
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