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Business and Economy

Home Sales Up More Than 6 Percent In Maine In August

Sales of existing single-family homes in Maine increased by more than 6 percent in August compared to the year before.

The Maine Association of Realtors says the median sales price for the homes also increased by more than 4.5 percent, to $206,000.

Association Vice President Kim Gleason says the inventory of houses up for sale is still extremely tight across the entire state.

“We’ve had active phone calls with presidents of local boards and everybody’s reporting basically the same thing, which is low inventory,” she says.

Gleason says active listings in August 2017 were down more than 13 percent to compared the year before. The median number of days properties remained on the market also dropped.