According to the Maine Association of Realtors (MAR) April Press Release, Maine single family home sales and prices are up from last year. Across the state, home sales were up 9.18% compared to March, 2016. Additionally, the median sales price showed a 4.66% increase when compared to March, 2016.
Below are the Cumberland County First Quarter Statistics from the Maine Real Estate Statistics – March 2017 Housing Report:
Cumberland County Statistics: 2017 First Quarter compared to 2016 First Quarter
Number of Units:
2016 – 706
2017 – 698
% Change – (-1.13%)
Median Sales Price:
2016 – $245,000
2017 – $264,000
% Change – (+7.76%)
With inventory low and sale prices up in the Greater Portland area, now is a great time to consider selling. If you are considering buying, it is more important than ever to have a Realtor assisting you in this competitive market! Contact us today to get started!
MAINE HOME SALES AND VALUES UP IN MARCH SINGLE-FAMILY EXISTING HOMES REMAIN IN DEMAND
AUGUSTA (April 21, 2017)—Single-family home values in the state of Maine remain in a healthy terrain. According to Maine Listings, the median sales price (MSP) reached $191,000 in March—a 4.66 percent price increase over March of 2016. The MSP indicates that half of the homes were sold for more and half sold for less. Home sales were up 9.18% comparing March 2017 to March 2016.
“Real estate activity remains steady across Maine with a tightened for-sale housing inventory,” says 2017 Maine Association of REALTORS President Greg Gosselin, Owner/Broker of Gosselin Realty Group in York. “In many markets across Maine, REALTORS are reporting multiple offer situations on most listings. Buyers and sellers should partner with a REALTOR for expert counsel around inventory availability, marketing and pricing strategies, and negotiating approaches to find the right home and successfully navigate the real estate transaction given the current market conditions of your area.”
The National Association of Realtors (NAR) today reported a 6.1 percent rise in singlefamily home sales. The national MSP was up 6.6 percent to $237,800. The regional Northeast experienced a 4.1 gain in sales while the MSP increased 2.8 percent to $260,800 in March.
Below are two charts showing statistics for Maine and its 16 counties. The first chart lists statistics for the month of March only, statewide. The second chart compares the number of existing, single-family homes sold (units) and volume (MSP) during the rolling quarter of January, February and March of 2016 and 2017.
MARCH ONLY CHART
March 1-31, 2016 – March 1-31, 2017
| NUMBER OF UNITS | MEDIAN SALES PRICE | |||||
|---|---|---|---|---|---|---|
| 2016 | 2017 | %Change | 1089 | 1189 | 9.18% | |
| STATEWIDE | 1089 | 1189 | 9.18% | $182,500 | $191,000 | 4.66% |
ROLLING QUARTER CHART
From January 1, 2016 – March 31, 2016 and
January 1, 2017 – March 31, 2017
| NUMBER OF UNITS | MEDIAN SALES PRICE | |||||
|---|---|---|---|---|---|---|
| County | 2016 | 2017 | %Change | 2016 | 2017 | %Change |
| STATEWIDE | 2869 | 2924 | 1.92% | $174,500 | $186,000 | 6.59% |
| Androscoggin | 196 | 177 | -9.69% | $139,000 | $145,000 | 4.32% |
| Aroostook | 80 | 98 | 22.50% | $66,250 | $73,750 | 11.32% |
| Cumberland | 706 | 698 | -1.13% | $245,000 | $264,000 | 7.76% |
| Franklin | 62 | 66 | 6.45% | $113,500 | $125,750 | 10.79% |
| Hancock | 113 | 135 | 19.47% | $174,000 | $198,000 | 13.79% |
| Kennebec | 209 | 232 | 11.00% | $134,000 | $129,950 | -3.02% |
| Knox | 88 | 113 | 28.41% | $200,000 | $190,000 | -5.00% |
| Lincoln | 89 | 99 | 11.24% | $196,000 | $225,000 | 14.80% |
| Oxford | 133 | 163 | 22.56% | $123,500 | $130,000 | 5.26% |
| Penobscot | 276 | 277 | 0.36% | $118,750 | $117,500 | -1.05% |
| Piscataquis | 45 | 40 | -11.11% | $59,000 | $72,000 | 22.03% |
| Sagadahoc | 93 | 85 | -8.60% | $175,000 | $199,900 | 14.23% |
| Somerset | 92 | 86 | -6.52% | $74,000 | $111,000 | 50.00% |
| Waldo | 69 | 68 | -1.45% | $129,000 | $169,950 | 31.74% |
| Washington | 72 | 59 | -18.06% | $80,500 | $99,000 | 22.98% |
| York | 546 | 528 | -3.30% | $215,500 | $243,750 | 13.11% |