Home/Mortgages/Maine Sees Higher Home Sales in June

August 16, 2012 (Shirley Allen)

Monthly sales of existing single-family homes moved higher in Maine from May to June and were higher year-over-year for the 12th consecutive month according to the latest housing data from the Maine Association of Realtors® (MAR).

An estimated total of 1,247 existing single-family homes were sold in the Pine Tree State in June. That was 20.5 percent higher than the 1,035 homes sold in May and 26.6 percent higher than the 985 homes sold in June 2011. It was 12th consecutive month that home sales have improved year-over-year.

The median sales price for an existing home in Maine fell by 1.4 percent in June to $175,500, down from $178,000 in May but was still 1.7 percent higher than the median price of $172,600 in June of last year.

Of the 16 counties that provide data for the monthly report, fourteen reported an increase in home sales in latest rolling quarter with Washington (+433.3%), Lincoln (+67.3%), Hancock (+32.0%), Cumberland (+27.1%), and Sagadahoc (+26.4%) reporting the largest increases.

Franklin (-7.4%) and Piscataquis (-2.7%) posted the only declines in annual sales.

Cumberland County recorded the most sales during the latest rolling quarter with an estimated 878 home sales, up from 716 the previous month, while York County followed with an estimated 535 home sales, up from 468 in May.

Year-over-year, eleven counties posted an increase in their median prices led by Washington (+22.2%), Waldo (+20.0%), Hancock (+14.1%), Franklin (+12.4%), and Knox (+11.5%).

Aroostook (-4.6%), Androscoggin (-3.7%), Kennebec (-3.7%), Oxford (-2.0%), and Cumberland (-1.3%) posted the largest declines in year-over-year average home prices.

Tags: Maine real estate, existing homes, condos, sales, median home prices