MAINE HOME SALES UP 8.48%!

By United Realty | Oct 20, 2012
Market updates provided by Roland Littlefield and Fran Riley of United Realty

 

MAINE HOME SALES UP 8.48 PERCENT IN SEPTEMBER;

MEDIAN PRICES JUMP 6.92 PERCENT

 

SOUTH PORTLAND (October 19, 2012)— Real estate statistics continue a positive climb across the state of Maine. According to the Maine Real Estate Information System, Inc. (MREIS), sales of single-family existing homes increased 8.48 percent in September 2012, compared to the same month one year ago. The median sales price (MSP) for those homes rose 6.92 percent to $170,000 in that same time period. The MSP indicates that half of the homes were sold for more and half sold for less.

The National Association of Realtors reports a nationwide sales increase of 10.8 percent while the national MSP rose 11.4 percent to $184,300. Regionally, sales are up 7.3 percent in the Northeast; the regional MSP increased 4.1 percent to $238,700.

Tina Lucas, 2012 President of the Maine Association of Realtors, relays, "Currently, my market area mirrors the new statistics, as activity has certainly increased. In fact, we are beginning to experience, on occasion, multiple offer situations on well-priced, move-in ready homes in the right location. Sellers feel more confident about entering the market; they have a better sense of what level of value to expect now that the market has more stability."

Lucas, broker/owner of Lucas Real Estate in Portland, adds, "On the other side, buyers are taking action, as they realize an increase in activity may result in higher prices. All in all, a more stable real estate market is a better market for buyers

Below are two charts showing statistics for Maine and its 16 counties. The first chart lists statistics for the month of September only, statewide. The second chart compares the number of existing, single-family homes sold (units) and volume (MSP) during the months of July, August and September of 2011 and 2012.

SEPTEMBER ONLY CHART

September 1-30, 2011– September 1-30, 2012

County # Units Sold # Units Sold % MSP MSP %

2011 2012 Chng 2011 2012 Chng

STATEWIDE 967 1049 8.48% $159,000 $170,000 6.92%

ROLLING QUARTER CHART

From July 1, 2011 – September 30, 2011 and

July 1, 2012 – September 30, 2012

County # Units Sold # Units Sold % MSP MSP %

2011 2012 Chng 2011 2012 Chng

STATEWIDE 3051 3390 11.11% $167,900 $170,550 1.58%

Androscoggin 202 235 16.34% $128,750 $135,900 5.55%

Aroostook 98 108 10.20% $80,000 $80,000 0.00%

Cumberland 770 853 10.78% $229,450 $225,000 -1.94%

Franklin 70 71 1.43% $125,000 $110,000 -12.00%

Hancock 135 150 11.11% $167,000 $180,100 7.84%

Kennebec 262 300 14.50% $137,750 $135,000 -2.00%

Knox 103 108 4.85% $182,000 $172,000 -5.49%

Lincoln 90 108 20.00% $178,000 $184,000 3.37%

Oxford 142 142 0.00% $119,450 $131,500 10.09%

Penobscot 313 348 11.18% $133,000 $135,000 1.50%

Piscataquis 56 60 7.14% $75,250 $92,500 22.92%

Sagadahoc 90 92 2.22% $168,000 $164,500 -2.08%

Somerset 113 100 -11.50% $117,000 $113,375 -3.10%

Waldo 83 94 13.25% $149,000 $144,000 -3.36%

Washington 23 61 165.22% $98,000 $110,000 12.24%

York 501 560 11.78% $210,700 $228,750 8.57%

Source: Maine Real Estate Information System, Inc. Note: MREIS, 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. Contacts: Maine Association of REALTORS President Tina Lucas (Lucas Real Estate, Portland) 774-4022- tina@lucasrealestate.com; REALTOR Mike LePage (RE/MAX Heritage, Yarmouth) - 846-4300 - mlepage@rheritage.com - For more names: suzanne@mainerealtors.com.

 

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