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Business and Economy

Maine Homes Sales up, Median Sales Price Down

SOUTH PORTLAND, Maine - Maine home sales were up in January, compared with the same month last year. But sales prices for those homes were trending lower. That's according to the Maine Association of Realtors.

Compared with January of 2014, the trade group says, sales of existing single-family homes in Maine were up 8.6 percent last month. But the median sales price fell nearly 4 percent, to $160,000. The MSP indicates that half of the homes sold for more and half for less.
 
"The January sales data is further proof of a stabilizing real estate market in Maine," says association President Marie Flaherty, a realtor with Berkshire Hathaway HomeServices Northeast Real Estate in Westbrook.  

Nationally, sales of existing single-family homes grew 3.9 percent in January compared with January of 2014, while the median sales price rose 6.3 percent to $199,800.  In the Northeast, sales were up 3.3 percent, as was the median sales price, by 2.7 percent to $247,800.