The median sale price for existing, single-family homes in Maine increased by 11 percent in June compared with a year earlier, while the volume of home sales increased by nearly 3 percent.

According to a report issued Monday by the Maine Association of Realtors, the median sale price in June was $227,500, compared with $205,000 a year earlier. The median price indicates that half of the existing, single-family homes sold for more money and half sold for less.

The number of homes sold statewide in June was 1,937, compared with 1,889 homes sold in June 2017, it said.

“It’s been a strong year for much of Maine and inventory is moving quickly,” Kim Gleason, association president and broker/owner of McAllister Real Estate in Hallowell, said in a prepared statement. “The number of sales during the first six months of 2018 are nearly 2 percent ahead of the first six months of 2017, which was Maine’s best ever. In some areas of Maine, the markets are tight – multiple offers are prevalent and prices show upward pressure.”

For the three-month period ending June 30, the median home sale price in Maine increased by about 11 percent from the same period a year earlier to $218,500, while the volume of home sales increased by nearly 3 percent to 4,641 sales.

The biggest increase in median price for the three-month period was in Waldo County, where it increased by over 18 percent from a year earlier to $186,000. The only Maine county that experienced a decrease in median price for the period was Penobscot, where the median was down by over 7 percent from a year earlier to $139,000.

The biggest increase in sales volume for the three-month period was in Aroostook County, where home sales rose by 32 percent from a year earlier to 173 sales. The biggest decrease in sales volume occurred in Lincoln County, where home sales were down by nearly 18 percent to 122 sales.

Nationally, the median home sale price in June increased by over 5 percent from a year earlier to $279,300, while sales volume decreased by over 2 percent compared with June 2017, according to the National Association of Realtors.

Regionally, the median home sale price for the Northeast increased by over 3 percent to $305,900 in June compared with a year earlier, while home sales volume decreased by 4 percent compared with June 2017, the association said.

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

[email protected]

Twitter: @jcraiganderson

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