Sales of existing, single-family homes in Maine fell more than 28 percent in May compared with the same period last year, a decline consistent with overall trends this past spring.
The median sales price also fell to $165,700, a decline of nearly 2.5 percent, according to the Maine Real Estate Information System.
Realtors noted that the steep, year-over-year decline compares to a surge in activity last spring, when federal tax incentives were set to expire.
“We were hopeful that the market would show signs of strength in the second quarter and the May results don’t reflect that optimism,” said Mike LePage, president of the Maine Association of Realtors.
The survey data show that 784 homes were sold this May, compared with 1,090 in May of 2010. In April of this year, 758 homes were sold at a median price of $160,750.
For the quarter, sales were off 24.5 percent and prices were down 2.4 percent overall.
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