Maine Housing Report November 2013

FOR IMMEDIATE RELEASE
CONTACTS LISTED BELOW

 

MAINE HOME SALES AND PRICES UP IN NOVEMBER

SOUTH PORTLAND (Dec. 19, 2013) — The coming of winter has not dampened Maine’s end-of-year real estate market.  Maine Listings reports an increase of 2.65 percent in the sales of single-family existing homes during the month of November.  The median sales price (MSP) for the 1,086 homes sold rose 1.6 percent to $175,000.  The MSP indicates that half of the homes were sold for more and half sold for less.

According to the National Association of Realtors®, sales nationwide dipped a slight 0.9 percent, while the national MSP reached $196,200—a jump of 9.4 percent.  The Northeast region witnessed a 6.6 percent rise in sales over the past 12 months, and the regional MSP increased 5.7 percent to $242,900. 

Bart Stevens, President of the Maine Association of Realtors®, said Maine experienced a very strong real estate year in 2013.  Stevens added, “Unit sales continue to show an increase, although certainly not as strong as some other months this year; this is not unusual as we enter a traditionally slower time of year when people begin to focus on the holidays.  The median sales price continues to grow, reflecting a more stabilized market and a continued tightening in inventory.”

Stevens, owner/broker with Century 21 Nason Realty in Winslow, said winter is a “great time to purchase for many, as there are traditionally fewer buyers looking during this period.  Sellers are often more motivated to negotiate during the winter months.  Inventory remains strong throughout much of the state and 2014 should continue to be favorable for buyers and sellers alike.  Mortgage interest rates remain favorable.  Work with a Realtor® to determine your buying power.”

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

                                                              

NOVEMBER ONLY CHART

November 1-30, 2012 and November 1-30, 2013

 

County Units Sold
2011-12
Units Sold
2012-13
%Chng MSP
2011-12
MSP
2012-13
%Chng
Statewide 1058 1086 2.65% $172,250 $175,000 1.60%

 

ROLLING QUARTER CHART

From September 1, 2012 – November 30, 2012 and

September 1, 2013 – November 30, 2013

 

County Units Sold
2012
Units Sold
2013
%Chng MSP
2012
MSP
2013
%Chng
Statewide 3284 3639 10.81% $171,385 $175,000 2.11%
Androscoggin
Aroostook
Cumberland
Franklin
Hancock
Kennebec
Knox
Lincoln
Oxford
Penobscot
Piscataquis
Sagadahoc
Somerset
Waldo
Washington
York
199
117
826
75
163
283
115
108
156
318
53
99
96
107
59
510
224
114
887
95
172
290
151
127
155
357
45
81
115
117
76
633
12.56%
-2.56%
7.38%
26.67%
5.52%
2.47%
31.30%
17.59%
-0.64%
12.26%
-15.09%
-18.18%
19.79%
9.35%
28.81%
24.12%
$139,900
$94,900
$232,700
$111,000
$185,000
$137,000
$172,900
$212,500
$139,950
$126,000
$73,000
$185,000
$116,700
$135,000
$93,000
$221,500
$136,500
$90,750
$245,000
$124,000
$187,500
$139,950
$176,000
$212,000
$143,000
$133,000
$55,750
$180,000
$90,000
$157,000
$85,750
$224,500
-2.43%
-4.37%
5.29%
11.71%
1.35%
2.15%
1.79%
-0.24%
2.18%
5.56%
-23.63%
-2.70%
-22.88%
16.30%
-7.8%
1.35%

 

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 (Better Homes and Gardens/The Masiello Group) – 942-6711  - angelia.levesque@yahoo.com  - For more names: suzanne@mainerealtors.com.  

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