MAINE HOME SALES UP 46% IN MARCH

Statewide Median Sales Price increases nearly 10% since March 2009

SOUTH PORTLAND (April 22, 2010)— Maine is showing positive growth in both unit sales and the median sales price of single-family existing homes during the month of March 2010. According to the Maine Real Estate Information System, Inc. (MREIS), 815 homes sold last month—a gain of 46.06 percent compared to March 2009. The median sales price reached $164,900, up 9.93 percent from March 2009’s price of $150,000. The median sales price indicates that half of the homes were sold for more and half sold for less.

Nationally, single-family existing homes sales rose 13.3 percent. The National Association of Realtors (NAR) reports the national median sales price increased 0.6 percent to $170,700 in March 2010. Regionally, sales in the Northeast were up 25.4 percent and the regional median sales price increased 8.9 percent to $249,800 in March 2010.

Alan Peoples of Coldwell Banker Residential Brokerage in Portland relays, “The economic numbers for March and the rolling quarter are strongly positive and April is likely to be more of the same. These numbers reflect momentum from the first time and repeat buyer tax credit programs, which end at the end of April.” The increase in the median home sales price shows increased sales of higher priced homes in Maine from the same time period in 2009.

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 median sales price (MSP) during the First Quarter (January, February and March) of 2009 and 2010

 

 

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Maine Real Estate Statistics –March 2010 Housing Report—4/22/10—Page 2 of 2

MARCH ONLY CHART

March 1-31, 2009 – March 1-31, 2010

County # Units Sold # Units Sold % MSP MSP %

2009 2010 Change 2009 2010 Change

STATEWIDE 558 815 46.06% $150,000 $164,900 9.93%

ROLLING QUARTER CHART

From January 1, 2009 – March 31, 2009 and January 1, 2010 – March 31, 2010

County # Units Sold # Units Sold % MSP MSP %

2009 2010 Change 2009 2010 Change

STATEWIDE 1399 1793 28.16% $155,000 $160,650 3.65%

Androscoggin 87 134 54.02% $118,000 $132,461 12.25%

Aroostook 46 48 4.35% $99,000 $67,250 -32.07%

Cumberland 327 455 39.14% $210,000 $210,000 0.00%

Franklin 22 40 81.82% $63,500 $119,750 88.58%

Hancock 55 71 29.09% $158,000 $175,000 10.76%

Kennebec 128 142 10.94% $117,700 $117,000 -0.59%

Knox 37 55 48.65% $175,000 $156,000 -10.86%

Lincoln 33 42 27.27% $155,000 $159,000 2.58%

Oxford 60 88 46.67% $133,500 $113,000 -15.36%

Penobscot 179 198 10.61% $117,000 $126,000 7.69%

Piscataquis 28 38 35.71% $33,000 $63,000 90.91%

Sagadahoc 46 56 21.74% $165,500 $156,450 -5.47%

Somerset 48 58 20.83% $72,500 $75,450 4.07%

Waldo 40 46 15.00% $152,000 $131,000 -13.82%

Washington 11 10 -9.09% $35,700 $113,500 217.93%

York 252 312 23.81% $179,950 $201,000 11.70%

Source: Maine Real Estate Information System, Inc. Note: MREIS, a subsidiary of the Maine Association of REALTORS, is a statewide Multiple Listing Service with over 4,600 licensees inputting active and sold property listing data. Statistics reflect properties reported as sold in the System within the time periods indicated.

 

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