Severe winter weather in Maine may have hindered the sales of single-family existing homes last month, but home values continued to rise.
According to Maine Listings, the statewide median sales price (MSP) increased 1.07 percent to $151,500.
The MSP indicates that half of the homes were sold for more and half sold for less. Realtors sold 593 homes in February—a sales dip of 4.97 percent. Nationally, sales in February were 8.7 percent higher than the same period 12 months ago.
The National Association of Realtors reported an 11.3 percent jump in the national MSP to $173,800.
Prices in the Northeast continued to rise; statistics indicate the regional Northeast MSP is up 7.6 percent to $238,800. Single-family existing home sales in the Northeast increased 8.6 percent.