Sales of existing, single-family homes in Maine dipped slightly in July compared with a year earlier, while the median sale price increased by 4.2 percent.

Real estate analysts attributed the results to a continued lack of housing inventory in the market.

In July, 1,701 existing homes were sold in Maine, a decrease of about 0.5 percent from 1,710 homes sold in July 2016, according to the Maine Association of Realtors.

The median sale price for those homes was $206,000, compared with $197,700 a year earlier, it said. The median price indicates that half of all homes sold for more and half sold for less.

July sales nationwide were up 1.7 percent compared with July 2016, according to the National Association of Realtors. The national median sale price of $260,600 represented a 6.3 percent increase from a year earlier.

Sales in the Northeast eased by 1.5 percent from July 2016, while the regional median price rose by 4.1 percent to $290,000.

J. Craig Anderson can be contacted at 791-6390 or at:

[email protected]

Twitter: @jcraiganderson

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