MAINE HOME SALES UP 32.02 PERCENT IN MAY;
PRICES RISE 7.42 PERCENT
SOUTH PORTLAND (June 21, 2012) — Sales of single-family existing homes in Maine continue in solidly positive territory, according to the Maine Real Estate Information System, Inc.
Realtors sold 1,035 homes statewide during the month of May, a jump of 32.02 percent from last year. The median sales price (MSP) rose 7.42 percent to $178,000.
The MSP indicates that half of the homes were sold for more and half sold for less.
The National Association of Realtors (NAR) reported a sales increase of 10.4 percent for national existing single-family homes. Prices were up 7.7 percent nationwide to a national MSP of $182,900. Regionally, sales in the Northeast increased 7.3 percent and the regional MSP rose 3.8 percent to $250,700.
Sheryl Gregory of Homestead Realty in Winthrop said,
“Buyers in our market area are finding interest rates irresistible; they can purchase more home with lower rates. Their optimism is higher than in recent past.”
Tina Lucas of Lucas Real Estate in Portland said,
“The positive news is resonating with sellers and buyers, as we see both sides taking action and making decisions with greater confidence. Homes in well-maintained condition that are properly priced for the current market will bring offers. The market statistics demonstrate a transition from a buyer’s market to a more balanced market where both buyers’ and sellers’ voices are heard as the number of homes sold and the median values continue to climb.”