Maine home sales remained strong in March, with both sales volume and median price up from a year earlier.
Home sales were up by 9.2 percent in March compared with March 2016, according to a report issued Friday by the Maine Association of Realtors.
The median price for detached, single-family homes in Maine remain reached $191,000 in March — a 4.7 percent price increase compared with a year earlier. The median indicates that half of the homes were sold for more and half sold for less.
“Real estate activity remains steady across Maine with a tightened for-sale housing inventory,” said association President Greg Gosselin, owner and broker of Gosselin Realty Group in York. “In many markets across Maine, Realtors are reporting multiple offer situations on most listings.”
For the three-month period ending March 31, statewide home sales were up 1.9 percent and the median sale price was up 6.6 percent to $186,000 compared with the same period of 2016.
Half of Maine’s 16 counties experienced a decline in sales during the three-month period, while half saw an increase compared with a year earlier. However, all but three counties experienced an increase in median price.
The biggest increase in sales volume was in Knox County, where sales were up 28.4 percent. The biggest decrease was in Washington County, where sales were down 18.1 percent.
The biggest median price increase for the three-month period was in Somerset County, where the median price reached $111,000 – a 50 percent jump. The biggest decrease was in Knox County, where the median fell by 5 percent to $190,000.
Nationally, home sales were up 6.1 percent in March compared with a year earlier, according to the National Association of Realtors. The national median sale price was up 6.6 percent to $237,800.
Regionally, the Northeast experienced a 4.1 percent rise in sales compared with a year earlier, while the median increased by 2.8 percent to $260,800.
J. Craig Anderson can be contacted at 791-6390 or at:
Twitter: @jcraiganderson
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