Sales and median price for existing single-family homes in Maine both increased in August, according to one of the largest real estate agencies in the state.

According to Natick, Massachusetts-based RE/MAX Integra, New England, 1,821 Maine homes were sold in August, up 6.5 percent from a year earlier. The median price increased 4.4 percent to $187,900 during the same period.

The inventory of homes for sale in Maine shrank by more than 10 percent to 17,443 during the 12 months ending in August, RE/MAX said in a report issued Wednesday. The average number of days on the market for a listed home decreased by more than 15 percent to 107 days, it said.

Pending home sales, those for which a contract has been signed but the deal has yet to close, shot way up – more than 27 percent – to 2,039, RE/MAX said.

Across the New England region, summer home sales remained strong throughout August, with all six states experiencing year-over-year sales growth, it said. Throughout the region, pending sales were up more than 16 percent, while average days on the market decreased by 10 percent.

The biggest jump in sales activity was in Vermont, where home sales increased 13.4 percent compared with August 2014. The biggest jump in median sale price was in Rhode Island, where it increased 5.9 percent to $233,000, the agency said.

“We had an extremely active summer season, given the late start after such a persistent winter season,” RE/MAX Executive Vice President Dan Breault said in the report, adding that seasonal activity appears to be winding down this month. “Current months’ supply of inventory, along with a dip in units sold, suggests buyers are feeling fatigued following a particularly active period in the market.”

 

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