Blog :: 07-2017

Sales Down, Values Up in June

FOR IMMEDIATE RELEASE

CONTACTS: LISTED BELOW

MAINE HOME PRICES RISE 3.54 PERCENT IN JUNE

AUGUSTA (July 24, 2017) Maine real estate continues to rise in value, even with some slight declines in sales. According to Maine Listings, single-family existing homes across the state experienced a 3.54 percent increase in the median sales price (MSP), to $205,000 comparing June 2017 to June 2016. The MSP indicates that half of the homes were sold for more and half sold for less. Sales of single-family existing homes eased 3.62 percent in June.

"Coming off a record-breaking 2016, our June 2017 numbers show continued strength," states Greg Gosselin, 2017 President of the Maine Association of REALTORS®. "For the state, the number of homes sold in June 2017 is nearly eight percent higher than the most recent three-year June average.

"Homes that are move-in ready and priced appropriately are quickly under contract. Buyers are plentiful and seeking the long-term financial benefits of home ownership."

According to the National Association of Realtors, home sales across the country in June increased 0.7 percent compared to June 2016. The national MSP of $266,200 reflects a 6.6 percent increase. Regionally, sales in the Northeast increased 1.3 percent while the regional MSP rose 4.1 percent to $296,300.

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    MAINE HOME PRICES UP 5.12 PERCENT IN MAY

    FOR IMMEDIATE RELEASE CONTACTS: LISTED BELOW MAINE HOME PRICES UP 5.12 PERCENT IN MAY AUGUSTA (June 21, 2017)—Lower-than-normal inventory of existing single-family homes in Maine led to an 8.85 percent decline in May 2017 sales. However, according to Maine Listings, the median sales price (MSP) for the 1,524 homes sold last month rose 5.12 percent to $200,000. The MSP indicates that half of the homes were sold for more and half sold for less. “2016 was a record year for real estate in Maine,” states Greg Gosselin, 2017 President of the Maine Association of REALTORS®, “and while these current numbers show a decline from last year’s highs, the 2017 May and Rolling Quarter Statistics are the second highest numbers during this time period, since we began keeping records in 2003. “For sale inventory is 20 percent lower than this time last year, and multiple offer situations are becoming more prevalent for properties that are move-in ready and properly priced.” Nationally, single-family home sales increased 2.7 percent. The National Association of Realtors reported a nationwide MSP of $254,600—a 6.0 percent jump from one year ago. The Northeastern US experienced a sales increase of 2.6 percent and the regional MSP rose 4.7 percent to $281,300.

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