Maine’s housing economy got a late-summer boost in August, with year-over-year increases in both home sales volume and median sale price.
Sales of existing single-family homes in Maine increased by 6.4 percent in August compared with a year earlier, according to a report issued Wednesday by Maine Listings.
The median sale price of homes increased by 4.6 percent from a year earlier to $206,000, it said. The median sale price indicates that half of the homes sold for more and half sold for less.
“August statistics show a final summer push and good momentum moving into the fall,” said Greg Gosselin, president of the Maine Association of Realtors, and broker and owner of Gosselin Realty Group in York. “Buyers are active in the marketplace and ready to purchase, searching for properties to meet their specific needs.”
Statewide home sales were relatively flat for the three-month period ending Aug. 31, increasing by 0.65 percent from 5,510 sales in August 2016 to 5,546 sales a year later, according to Maine Listings. The median sale price for the three-month period increased by 3.8 percent from $197,500 in 2016 to $205,000 a year later.
Locally, the biggest year-over-year increase in sales volume for the three-month period was 16.7 percent in Kennebec County, while the biggest decrease was 14.3 percent in Piscataquis County.
The biggest increase in median sale price for the three-month period was 40.2 percent in Waldo County, where it jumped from $92,750 in 2016 to $130,000 a year later. The biggest decrease was 7.2 percent in Piscataquis County, where the median sale price fell from $90,000 in 2016 to $83,500 a year later.
According to the National Association of Realtors, home sales were up 0.4 percent across the country in August compared with a year earlier, and the national median sale price increased by 5.6 percent to $255,500. Regionally, sales in the Northeast rose by 1.4 percent, it said, and the regional median sale price of $289,500 reflected an increase of 5.6 percent compared with August 2016.
J. Craig Anderson can be contacted at 791-6390 or at:
Twitter: @jcraiganderson
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