Maine Housing Report October 2013

FOR IMMEDIATE RELEASE
CONTACTS LISTED BELOW

 

MAINE REAL ESTATE SALES UP 5.86 PERCENT IN OCTOBER;

PRICES INCREASE 3.37 PERCENT

SOUTH PORTLAND (Nov. 20, 2013) — Maine’s existing home sales and prices continue to move in a positive direction, even during fall’s cooler temperatures.  According to Maine Listings, Realtors across Maine’s 16 counties sold 1,246 homes in October—an increase of 5.86 percent from one year ago.  The median sales price (MSP) rose 3.37 percent to $176,250.  The MSP indicates that half of the homes were sold for more and half sold for less.

Nationwide, sales were up 5.2 percent last month, according to the National Association of Realtors.  The national MSP reached $199,500, an increase of 12.7 percent.  The regional Northeast experienced a sales uptick of 11.7 percent and the regional MSP jumped 7.4 percent to $247,300. 

“Inventory continues to climb, and prices are appreciating; many sellers are now more comfortable entering the market,” said Bart Stevens, President of the Maine Association of Realtors.  “A majority of the distressed properties have left the market, and things appear to be moving back toward a more normal real estate environment.”

Stevens, owner/broker with Century 21 Nason Realty in Winslow, said lenders have capital available for borrowers, and those with steady jobs and good credit scores should take advantage of “historically low interest rates and favorable affordability.  Now continues to be a good time to purchase real estate for personal use or investment purposes.  For many, owning is more affordable than renting due to the tax benefits over time and the accumulation of equity.”

Below are two charts showing statistics for Maine and its 16 counties.  The first chart lists statistics for the month of October only, statewide.  The second chart compares the number of existing, single-family homes sold (units) and volume (MSP) during the months of August, September and October of 2012 and 2013.                                                              

 

 

OCTOBER ONLY CHART

October 1-31, 2012 and October 1-31, 2013

 

County Units Sold
2012
Units Sold
2013
%Chng MSP
2012
MSP
2013
%Chng
Statewide 1177 1246 5.86% $170,500 $176,250 3.37%


 

ROLLING QUARTER CHART

From August 1, 2012 – October 31, 2012 and

August 1, 2013 – October 31, 2013

 

 

County Units Sold
2012
Units Sold
2013
%Chng MSP
2012
MSP
2013
%Chng
STATEWIDE 3481 4059 16.60% $170,000 $178,000 4.71%
Androscoggin
Aroostook
Cumberland
Franklin
Hancock
Kennebec
Knox
Lincoln
Oxford
Penobscot
Piscataquis
Sagadahoc
Somerset
Waldo
Washington
York
221
122
871
82
165
292
111
117
165
339
63
108
103
115
63
544
259
113
1028
112
184
348
141
146
173
380
58
104
119
122
86
686
17.19%
-7.38%
18.09%
36.59%
11.52%
19.18%
27.03%
24.79%
4.85%
12.09%
-7.94%
-3.70%
15.53%
6.09%
36.51%
26.10%
$140,000
$81,000
$229,900
$116,750
$182,100
$135,000
$170,000
$205,000
$136,900
$125,000
$100,000
$171,500
$116,000
$136,000
$96,800
$228,050
$140,000
$95,000
$252,000
$117,500
$188,850
$143,250
$210,000
$210,000
$135,000
$135,000
$65,000
$181,500
$89,000
$160,250
$81,250
$225,000
0.00%
17.28%
9.61%
0.64%
3.76%
6.11%
23.53%
2.44%
-1.39%
8.00%
-35.00%
5.83%
-23.28%
17.83%
-16.06%
-1.34%

 

Source: Maine Real Estate Information System, Inc. (d/b/a Maine Listings).  Note: Maine Listings, a subsidiary of the Maine Association of REALTORS, is a statewide Multiple Listing Service with over 4,100 licensees inputting active and sold property listing data.  Statistics reflect properties reported as sold in the system within the time periods indicated. Contacts: Maine Association of REALTORS President Bart Stevens (Century 21 Nason Realty, Winslow) 873-2119 - Barton@C21Nason.com; President-Elect Angelia Levesque (RE/MAX Advantage Realty Group) – 942-8100  - angelia.levesque@yahoo.com  - For more names: suzanne@mainerealtors.com.  

# # #