April 23, 2013

Maine home sales rise in March

From staff reports

SOUTH PORTLAND — Sales of single-family existing homes in Maine rose 8.34 percent in March from the year-ago period, marking a rebound from February when bad weather hurt sales.

The median sales price for the 792 homes sold in March rose 6.25 percent 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. Buyers are out in full force," said Bart Stevens, president of the Maine Association of Realtors.

In February, home sales dropped 5 percent from the year-ago period due to bad weather.

Stevens said the lack of inventory – or houses on the market – has been shrinking. As a result of fewer houses to choose, many properties are selling close to asking prices. 

In the first three months of the year, Cumberland County saw 499 homes sold, up from 480 sold in the same period a year ago. The median home price rose to $219,000, up 2.10 percent from the year-ago period.

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

Aroostook, Franklin and Knox counties reported a drop in home sales in March.

The National Association of Realtors reported a 9.1 percent increase in sales nationwide during the month of March. Prices across the United States jumped 12.1 percent to a national median home price of $185,100. Regionally, sales in the Northeast were up 6.8 percent with a regional median home price of $237,000.


Were you interviewed for this story? If so, please fill out our accuracy form

Send question/comment to the editors

Further Discussion

Here at PressHerald.com we value our readers and are committed to growing our community by encouraging you to add to the discussion. To ensure conscientious dialogue we have implemented a strict no-bullying policy. To participate, you must follow our Terms of Use.

Questions about the article? Add them below and we’ll try to answer them or do a follow-up post as soon as we can. Technical problems? Email them to us with an exact description of the problem. Make sure to include:
  • Type of computer or mobile device your are using
  • Exact operating system and browser you are viewing the site on (TIP: You can easily determine your operating system here.)