Sales of existing single-family homes in Maine increased by nearly 6 percent in February over the same period a year ago and the median sales price increased by nearly 8 percent, the Maine Association of Realtors reported.
However, the association’s president acknowledged that the coronavirus outbreak is causing a number of concerns this month for buyers, sellers and agents.
There were 865 sales of existing single-family homes in the state in February, an increase of 5.8 percent from a year earlier, the association said Friday.
The median sales price for those homes reached $216,900, an uptick of 8.5 percent from February 2019. The median indicates that half of the homes sold for more money and half sold for less.
“February 2020 was an especially strong month for real estate sales, recording the second highest number of February sales since we began keeping statistics 20 years ago,” association President Tom Cole, managing broker of Brunswick-based Better Homes and Gardens Real Estate The Masiello Group, said in a statement.
For the three-month period ending Feb. 29, sales of existing single-family homes in Maine increased by more than 19 percent percent from a year earlier, while the median sales price increased by about 7 percent to $225,000.
Still, Cole indicated that the outbreak of coronavirus and the declaration of a global pandemic were causing major changes to the housing market that aren’t reflected in February’s numbers.
“Concern for the health and safety of Realtors’ clients and customers is paramount,” he said. “With the current COVID-19 outbreak, Realtors have listened to, and are adapting to, clients’ and customers’ concerns and needs. Along with our industry partners and by following CDC guidelines, buyers and sellers that want to, or need to, are able to make their real estate goals happen.”
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