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MAINE REAL ESTATE SALES UP 39 PERCENT

SOUTH PORTLAND (November 23, 2009) — For a fifth consecutive month, sales of single-family existing homes increased dramatically in the state of Maine. Realtors sold 1,247 homes across Maine’s 16 counties – a jump of 39.02 percent since last October. According to the Maine Real Estate Information System, the median sales price dipped 3.51 percent in the past 12 months to $165,000. The median sales price indicates that half of the homes sold for more and half sold for less.

The National Association of Realtors today reports a nationwide home sales increase of 21.4 percent since October 2008. The national median existing sales price of $173,100 reflects a dip of 6.8 percent. In the regional Northeast, sales rose 27.7 percent. The regional median sales price declined 2.6 percent to $235,400.

REALTOR Sharon Millett of Coldwell Banker Millett Realty in Auburn says, “It’s very encouraging to see strong continued growth in sales for the past five months in Maine. Buyers are responding positively to the first time homebuyer tax credit of $8,000 and now that it has just been expanded to $6,500 for all buyers, we expect this trend to continue and grow.”
 
With the current uptick in activity, Millett says, “Buyers really want to find a home now, which makes it the perfect time for sellers to list their property for sale.”
from Maine Real Estate Information System (MREIS); contact Sherry Gregory for more information