MAINE HOME SALES INCREASE 14.02 PERCENT IN JUNE

By United Realty | Jul 22, 2014
Roland Littlefield and Fran Riley, owners of United Realty in Belfast

 

FOR IMMEDIATE RELEASE  

MAINE HOME SALES INCREASE 14.02 PERCENT IN JUNE

 

SOUTH PORTLAND (July 22, 2014)—Increased inventory and low interest rates fueled Maine’s home sales in June. According to Maine Listings, REALTORS report 1,513 single-family existing home sales last month—a rise of 14.02 percent compared to one year ago. The June median sales price (MSP) increased 0.54 percent to $185,000. The MSP indicates that half of the homes were sold for more and half sold for less.

The National Association of REALTORS reports that, nationally, the number of single-family existing home sales decreased 2.9 percent and the national median sales price increased 4.5% to $224,300 compared to June 2013. Sales in the northeast dipped 3.0 percent, and the northeast regional MSP eased 0.1 percent to $269,800 compared to June 2013.

Angelia Levesque, President of the Maine Association of REALTORS, says, "Maine is the second most popular state in the country for ownership of second homes and recreational properties. With our great weather lately, this is the perfect time to explore that market. Waterfront, winter recreation and family camp properties are especially popular requests, currently."

Levesque, adds that the increased inventory in a majority of the state has led to a buyer’s market. "Rent prices are rising and interest rates remain low, making this the perfect time to buy a home. Sellers with homes that have not sold at a regular pace should consult their REALTOR about making a price adjustment."

Below are two charts showing statistics for Maine and its 16 counties. The first chart lists statistics for the month of June only, statewide. The second chart compares the number of existing, single-family homes sold (units) and volume (MSP) during the "rolling quarter" months of April, May and June of 2013 and 2014.

JUNE ONLY CHART  

June 1-30, 2013 – June 1-30, 2014  

 

 

 

 

STATEWIDE 1327 1513 14.02% $184,000 $185,000 0.54%

Maine Real Estate Statistics – June 2014 Housing Report—7/22/14—Page 2 of 2

 

 

 

 

 

 

 

 

 

 

ROLLING QUARTER CHART

 

From April 1, 2013 – June 30, 2013 and

April 1, 2014 – June 30, 2014

 

County # Units Sold # Units Sold % Chng MSP MSP % Chng

2013 2014 2013 2014

 

STATEWIDE 3478 3830 10.12% $179,000 $175,000 -2.23%

 

Androscoggin 213 263 23.47% $136,300 $130,000 -4.62%

Aroostook 107 105 -1.87% $102,900 $85,000 -17.40%

Cumberland 1005 982 -2.29% $249,000 $245,000 -1.61%

Franklin 69 87 26.09% $133,000 $120,000 -9.77%

Hancock 127 158 24.41% $182,500 $182,500 0.00%

Kennebec 288 307 6.60% $138,500 $140,000 1.08%

Knox 114 111 -2.63% $166,500 $163,000 -2.10%

Lincoln 100 126 26.00% $237,500 $200,000 -15.79%

Oxford 141 174 23.40% $129,500 $125,500 -3.09%

Penobscot 314 337 7.32% $137,450 $124,900 -9.13%

Piscataquis 41 55 34.15% $80,000 $100,000 25.00%

Sagadahoc 112 134 19.64% $175,000 $168,250 -3.86%

Somerset 97 117 20.62% $115,000 $89,500 -22.17%

Waldo 84 91 8.33% $155,000 $128,000 -17.42%

Washington 53 54 1.89% $105,000 $86,500 -17.62%

York 613 729 18.92% $222,000 $213,000 -4.05%

Source: Maine Real Estate Information System, Inc. (d/b/a Maine Listings). Note: Maine Listings, a subsidiary of the Maine Association of REALTORS, is a statewide Multiple Listing Service with over 4,100 licensees inputting active and sold property listing data. Statistics reflect properties reported as sold in the system within the time periods indicated. 

 

 

 

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