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Business and Economy

Home Sales in Maine Rise While Prices Slide

PORTLAND, Maine - Maine home sales in February were nearly 22 percent higher than the same month last year.  That's according to the Maine Association of Realtors, an industry group that tracks real estate activity.

The group's monthly survey found that 891 single-family existing homes were sold this February, compared with 732 homes sold in February of 2015.

Despite higher sales, the median sales price of those homes fell by 4.42 percent, to $160,000. The median sales price indicates that half the homes sold for more and half for less.

Nationally, home sales rose only 2 percent from February of 2015 to February of this year, but the median sales price rose to $212,300, a 4.3 percent jump.

In the Northeast region, sales during the period grew 5 percent, while the median sales price rose less than a percentage point to $239,700.