April 24, 2013

Maine home sales rebound in most counties in March

With February's bad weather behind, Maine's real estate market warms up as spring arrives.

By Jessica Hall jhall@pressherald.com
Staff Writer

SOUTH PORTLAND - Sales of existing single-family homes in Maine rose 8.34 percent in March from the same month in 2012, making a rebound from February, when bad weather hurt home sales.

The median sale price for the 792 homes sold in Maine last month was up 6.25 percent over March 2012, to $170,000, according to the Maine Association of Realtors.

"After one slow month in February due to weather, the real estate market continues to pick up steam," said Bart Stevens, president of the Maine Association of Realtors.

In February, home sales dropped 5 percent from February 2012.

Stevens said inventory -- the number of houses on the market -- has been shrinking, so many properties are selling for close to their asking prices.

In the first three months of this year, 499 homes were sold in Cumberland County, up from 480 in the same period of 2012. The median price was $219,000, up 2.10 percent from the year-ago period.

In York County, 391 homes sold in the first quarter of 2013, up 15.7 percent from the year-ago period. The median sale price rose about 11 percent, to $207,000.

Aroostook, Franklin and Knox counties reported drops in the number of homes sold in the first quarter of 2013.

The National Association of Realtors reported a 9.1 percent increase in sales nationwide in March over the same month in 2012. Prices across the United States jumped 12.1 percent, with a median of $185,100.

Jessica Hall can be contacted at 791-6316 or at:

jhall@pressherald.com

 

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