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Business and Economy

Maine Home Sales Up 17% From March 2020 To March 2021

Existing Home Sales
Steven Senne
/
AP file
In this Oct. 6, 2020 file photo, a real estate brokerage sign stands in front of a house in Norwood, Mass.

Maine home sales continued their surge last month.

The Maine Association of Realtors reports that more than 1,300 homes were sold last month — a nearly 17% jump from March 2020. Home prices climbed as well, to a median of $268,500.

The biggest boosts occurred in rural Maine, with sales up nearly 50% in Aroostook, Somerset and Knox counties.

The state Realtors' association describes the pace of the real estate market as "rapid," with the average home only on the market for 11 days, compared with 48 days last March.