Maine median home sales prices increases in February

Unit Sales Decrease 2.43%
SOUTH PORTLAND (March 21, 2011) — Statistics released by the Maine Real Estate Information System, Inc. (MREIS) indicate the median sales price (MSP) of a single-family home in Maine rose 0.92 percent in February 2011 to $159,450 compared with February 2010. The MSP indicates that half of the homes were sold for more and half sold for less. In addition, 482 homes sold in February 2011, reflecting a sales decrease of 2.43 percent compared to February 2010.
In that same time period, the National Association of Realtors (NAR) reports a 2.7 percent decrease for national sales of single-family existing homes and a national Median Sales Price of $157,000 – a decline of 4.2 percent. Regionally, sales in the Northeast decreased 8.3 percent in February; the regional MSP of $230,200 represents a 9.5 percent decrease.
Realtor Ann McFarland with Drum & Drum Real Estate in Damariscotta relays, “The public seems to be moving more to buying, instead of just looking. They are realizing the current housing market includes low mortgage interest rates, local banks have money to loan and home prices are affordable.
Below are two charts showing statistics for Maine and its 16 counties. The first chart lists statistics for the month of February only, statewide. The second chart compares the number of existing, single-family homes sold (units) and volume (MSP) in a rolling three month period of December, January and February.

Maine Real Estate Statistics – February 2011 Housing Report—3/21/11
FEBRUARY ONLY CHART
February 1-28, 2010– February 1-28, 2011
County # Units Sold # Units Sold % MSP MSP %
2010 2011 Chng 2010 2011 Chng
STATEWIDE 494 482 -2.43% $158,000 $159,450 0.92%
ROLLING QUARTER CHART
From December 1, 2009 – February 28, 2010 and December 1, 2010 – February 28, 2011
County # Units Sold # Units Sold % MSP MSP %
2009-10 2010-11 Change 2009-10 2010-11 Change
STATEWIDE 1830 1779 -2.79% $162,000 $165,000 1.85%
Androscoggin 117 105 -10.26% $140,000 $114,900 -17.93%
Aroostook 63 54 -14.29% $74,000 $76,750 3.72%
Cumberland 427 463 8.43% $223,000 $220,000 -1.35%
Franklin 37 39 5.41% $122,900 $145,000 17.98%
Hancock 79 81 2.53% $200,000 $225,000 12.50%
Kennebec 166 152 -8.43% $120,950 $123,450 2.07%
Knox 63 68 7.94% $160,000 $195,000 21.88%
Lincoln 44 47 6.82% $151,500 $170,000 12.21%
Oxford 113 85 -24.78% $120,000 $120,000 0.00%
Penobscot 198 179 -9.60% $117,500 $117,000 -0.43%
Piscataquis 32 37 15.63% $70,000 $70,000 0.00%
Sagadahoc 53 62 16.98% $163,000 $178,000 9.20%
Somerset 57 42 -26.32% $85,000 $78,700 -7.41%
Waldo 51 56 9.80% $129,800 $153,000 17.87%
Washington 9 12 33.33% $92,000 $110,000 19.57%
York 321 297 -7.48% $198,000 $203,816 2.94%
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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