Home sales rose nearly 10% in Maine last month, compared to the previous August.
It's the sixth consecutive month that the number of homes on the market and the number of sales have gone up, according to the Maine Association of Reactors. The inventory of homes for sale in Maine is also at its highest level in five years.
Home sales rose nearly 29% and 21% in Lincoln and Knox Counties, respectively. In Cumberland County, sales were up nearly 13%.
"Potential home buyers in Maine have more options than they have had over the past five years," said Jeff Harris, a Farmington-based realtor and the president of the Maine Association of Realtors.
Prices also increased in August. The median sales price went up to just more than $409,000 for a home in Maine last month, an increase of nearly 2.4% compared to last year.
Overall, home sales in Maine outpaced the market nationally and in the Northeast. Home sales ticked up 2.5% in August across the country. And in the northeast region, sales dipped about 2% last month, according to the Maine Association of Realtors.
