Maine’s median home price in September inches up to $175,000


PORTLAND — The median price of Maine homes sold in September rose over the same month last year, but growth in the the median sales price lagged the pace of the country and the average for New England.

Maine Listings reported the median price for a single-family home in Maine hit $175,000 in September, up just more than 1 percent over the same month last year.

Angelia Levesque, president of the Maine Association of Realtors, said in a statement that the latest figures are a sign that Maine’s real estate market has stabilized.

The number of homes sold in Maine also rose, up 6.6 percent in September to 1,393 homes compared with one year ago. That increase could be partly responsible for the rise in median sales price, depending on the price point where those additional homes were purchased.

If buyers picked up those homes in the lower price range, that would contribute to a rise in the median price and not necessarily indicate that home values are rising in general.

The Maine figures compare with a nationwide dip in sales volume by about 1.9 percent. Nationally and regionally, the median sales price rose. It was up 5.9 percent, to $210,300, nationwide and rose 4.8 percent, to $249,800, across the Northeast.