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Business and Economy

Maine Home Sales See Double-Digit Increase in October

Sales of Maine homes grew by double-digits in October, compared with the same month last year, though the median sales price fell slightly.

That's according to the Maine Association of Realtors. The trade group says sales of single-family existing homes in Maine rose more than 26 percent this October, compared with October of 2013. Meanwhile, the media sales price for those homes inched down slightly, by 0.71 percent, to $175,000.  The median price means half the homes sold for more and half for less.

"The rise in units sold seems to echo what I’ve been hearing from realtors all across the state. Many buyers hoped to be settled into their new homes before winter, so realtors have been very busy showing their clients options," says Maine Association of Realtors President Angelia Levesque, in a statement.

Levesque, a realtor with Better Homes and Gardens Real Estate/The Masiello Group in Bangor, says she's seen "steady activity in the marketplace currently.  I’m optimistic that 2014 will end positively, and activity will continue throughout 2015."

According to the group, 1,573 homes were sold in Maine this October, compared with 1,246 last October.  

Nationally, home sales rose 2.9 percent for the month, and the median sales price grew 5.6 percent, to $208,700.  In the Northeast region, sales increased 4.4 percent, while the median sales price rose 1.2 percent, to $246,900.