SOUTH PORTLAND (AP) – Home sales in Maine rose in August for the second month in a row, the Maine Realtors Association said Wednesday.
For the month, real estate agents sold 1,425 existing single-family homes across the state, a 6.7 percent jump over a year earlier. The median sales price was unchanged, at $195,000.
The Maine numbers are in contrast to the downward trend across the country.
Nationally, unit sales dropped 13 percent in August while the median sales price was essentially unchanged, at $223,900, according to the National Association of Realtors.
In the Northeast, sales fell about 6 percent from a year ago, but the median price was up 3.6 percent from August 2006 to $282,300, the association said.
While the numbers of existing-home sales in Maine appeared to buck the national trend in July and August, the picture isn’t as rosy for the three-month period from June through August.
For those months, home sales in Maine fell 3 percent compared to a year ago. The median sales price, however, rose a little more than 1 percent.
Cumberland County had the highest number of home sales for the three months, 991, which was up about 5 percent from the same period in 2006. The median sales price was up nearly 4 percent.
York County saw a 2 percent rise in home sales with a flat median price. Home sales grew by 4 percent in Penobscot County, while the median price fell 2 percent.
The priciest homes in the state are in Cumberland County, where the median price was $259,000. The cheapest homes were in Aroostook County, where the median price was $86,000.
Jon Dawson, president of ERA Dawson Bradford Co. in Bangor, said sales vary widely from region to region. Bangor, for instance, has historically been less volatile than national and regional markets.
“I think that, continuing into 2007, we will see a slight decline in inventories, an ample supply of mortgage financing and a slight firming of prices,” he said.
AP-ES-09-26-07 1320EDT
Comments are no longer available on this story