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Business and Economy

Maine Home Sales Set Record in 2016

PORTLAND, Maine - Maine saw a record number of homes sales in 2016, with closings on more than 17,500 single-family homes over the 12 months.   

Homes sales were up almost 12 percent in 2016 and median sales prices up almost 5 percent compared to the year before..

"I believe a lot of it is due to the confidence in the economy, which has fueled the sale of single-family homes across the state of Maine," says  Greg Gosselin, president of the Maine Association of Realtors. 

Gosselin says a tight housing stock continues to be a challenge.  However, he says there's more inventory, both new and existing, that's coming onto the market.