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The Real Estate Market in Maine Continues to Grow

Both the number of houses sold between January 1 and March 31 in Maine, and the prices of those houses, increased on average in Maine over last year.

Statewide, 16% more existing one-family homes, sold in the first quarter of this year, than at the same time last year; and the average price increased about 5.5%.

But of course some areas are doing better than others in the state. Maine Association of Realtors president Ed Gardner says city center areas are the big winners.

Bangor, Cumberland County of course with Portland," says Gardner. "But we can't forget second and third home sales are rebounding as well...have been picking up steam."

He says Knox, Lincoln, Franklin and Androscoggin counties are seeing the benefit of that market.

And he says more remote rural areas like Aroostook county saw the least benefit of the improving real estate market.

The highest median value in the quarter, was in Cumberland County, at $245,000; the lowest was in Aroostook County, at about $66,000.

For more data from the Maine Realtors Association visit mainerealtors.com.

Nora is originally from the Boston area but has lived in Chicago, Michigan, New York City and at the northern tip of New York state. Nora began working in public radio at Michigan Radio in Ann Arbor and has been an on-air host, a reporter, a digital editor, a producer, and, when they let her, played records.