Maine home sales fell 22 percent for the first half of 2008, according to the newest figures, with the “good” news being that the median price of those 2008 sales only dropped an average of about 5 percent statewide compared to the same time period last year.
Piscataquis County was hit the hardest, with a sales decline of 37.5 percent, according to figures released by the Maine Real Estate Information System Inc. Waldo County was going best with a sales decline of 5.6 percent. Piscataquis also experienced the sharpest drop in median sales price – 43 percent – falling from $101,250 to $88,350 for the two six-month periods. Meanwhile, five of Maine’s 16 counties saw increases in the median price of homes sold.
The National Association of Realtors reported a nationwide sales drop of 14.8 percent for June, while the median single-family home price dropped 6.7 percent to $213,800.
Comparing June 2007 and June 2008 statewide
No. units sold No. units sold Percent MSP MSP Percent
2007 2008 Change 2007 2008 Change
1,316 996 -24.32% $199,950 $188,000 -5.98%
Comparing January-June 2007 and January-June 2008
County No. units sold No. units sold Percent MSP MSP Percent
2007 2008 Change 2007 2008 Change
Statewide 5,637 4,373 -22.42% $195,000 $185,000 -5.13%
Androscoggin 419 315 -24.82% $162,500 $155,000 -4.62%
Aroostook 136 124 -8.82% $89,000 $91,250 2.53%
Cumberland 1,480 1,125 -23.99% $249,900 $236,000 -5.56%
Franklin 127 87 -31.50% $136,000 $140,000 2.94%
Hancock 222 175 -21.17% $212,750 $199,100 -6.42%
Kennebec 514 384 -25.29% $145,000 $140,000 -3.45%
Knox 208 172 -17.31% $220,000 $196,500 -10.68%
Lincoln 157 120 -23.57% $220,000 $213,750 -2.84%
Oxford 238 187 -21.43% $148,250 $151,500 2.19%
Penobscot 621 514 -17.23% $144,000 $135,000 -6.25%
Piscataquis 88 55 -37.50% $101,250 $88,350 -12.74%
Sagadahoc 155 124 -20.00% $205,000 $190,400 -7.12%
Somerset 159 130 -18.24% $107,000 $97,500 -8.88%
Waldo 142 134 -5.63% $151,875 $165,000 8.64%
Washington 31 23 -25.81% $95,000 $136,000 43.16%
York 940 704 -25.11% $234,765 $227,000 -3.31%
*Median sales price
Source: Maine Real Estate Information System Inc., a subsidiary of the Maine Association of Realtors
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