Maine homes have sold at a near-record pace this year through the month of August.
Statistics released Thursday by the Maine Association of Realtors show total sales volume of existing single-family homes in Maine through Aug. 31 is less than 1 percent below the first eight months of 2018 – the state’s best sales year ever.
The association reported a 3.2 percent bump in August home sales compared with a year earlier, while the statewide median home sales price increased by 4.6 percent to $230,000. The median indicates that half of homes sold for more money and half sold for less.
“It has been a strong real estate year for much of Maine, and good quality for-sale inventory is moving quickly,” Peter Harrington, association president and broker/partner with Malone Commercial Brokers in Portland, said in a statement. “We expect a strong finish to 2019, but that depends on a steady stream of new affordable listings to meet the needs of Maine’s working families.”
Nationally, single-family home sales in August increased by 2.9 percent from a year earlier, while the median sales price was up by 4.7 percent to $280,700, according to the National Association of Realtors. Sales in the Northeast region were up by 1.4 percent, while the regional median price eased by 0.3 percent to $303,500, it said.
For the three-month period ending Aug. 31, Maine home sales were down by about 1.2 percent from the same period of 2018, while the median sales price was up by nearly 3.6 percent to $233,000, according to the Maine association.
The biggest increase in sales for the three-month period occurred in Aroostook County, where sales jumped by 16.4 percent from a year earlier. The biggest decrease was in Knox County, where sales fell by 16 percent.
The biggest median sales price increase for the three-month period was in Piscataquis County, where the median increased by 35.9 percent from a year earlier to $144,000. Only two counties had median price decreases during the period – 3.6 percent in Hancock County and 3.9 percent in Waldo County.
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