Maine real estate sales eased 9.89% in August


AUGUSTA (September 21, 2022) – Maine Listings reported that existing single-family home sales in Maine fell 9.89 percent in August compared to August 2021. Readings remain elevated in August as the median selling price for the 1,859 homes sold reached $340,000, up 9.68 percent from August 2021. The MSP states that half of the homes sold for more and half for less.

“Demand for Maine single-family homes remains strong, with more than 1,850 homes sold in August,” said Madeleine Hill, 2022 President of the Maine Association of REALTORS® and designated agent at Roxanne York Real Estate in Harpswell.

“While still at historically low levels, active listings for sale are on an uptrend over the past six months, up almost 25 percent from July 2022 to August 2022,” Hill added. “With additional inventory for sale, we are seeing leveling in some areas of Maine. Buyers are taking a more strategic approach to these market trends, with contract contingencies and seller concessions becoming more prevalent.”

Also Read :  Mental health resources when you can’t find a therapist

The National Association of Realtors reported that existing single-family home sales fell 19.2 percent nationwide in August. Prices increased 7.6 percent to a national MSP of $396,300. Regionally, Northeast revenue was down 13.7 percent and regional MSP was up 1.5 percent to $413,200.

“If you are in a transition and need to navigate these changing real estate market dynamics, a local REALTOR® is your go-to source for expert knowledge of market conditions and the home buying process,” Hill said.

Below are two charts showing statistics for Maine and its 16 counties. The first chart only lists statistics for the months of August 2021 and 2022 nationwide. The second chart compares the number of existing single family homes sold (units) and volume (MSP) during the rolling three months of June, July and August (2021/2022).

Also Read :  Defunct hotels offer new real estate for housing the homeless

CHART ONLY AUGUST

August 1-31, 2021 – August 1-31, 2022

Number of units sold

Medium selling price

2021

2022

%Change

2021

2022

%Change

nationwide

2063

1859

-9.89%

$310,000

$340,000

9.68%

ROLLING QUARTER CHART

June 1, 2021 – August 31, 2021 and

June 1, 2022 – August 31, 2022

Number of units sold

Medium selling price

district

2021

2022

%Change

2021

2022

%Change

nationwide

6032

5328

-11.67%

$310,250

$350,000

12.81%

Androscoggin

409

350

-14.43%

$250,000

$290,000

16.00%

Aroostook

285

236

-17.19%

$130,000

$149,700

15.15%

Cumberland

1277

1116

-12.61%

$451,000

$503,500

11.64%

Franklin

179

154

-13.97%

$225,000

$234,500

4.22%

Hancock

293

243

-17.06%

$310,000

$400,000

29.03%

Kennebec

543

459

-15.47%

$260,000

$295,000

13.46%

knox

227

174

-23.35%

$355,000

$435,000

22.54%

Lincoln

192

163

-15.10%

$360,000

$400,000

11.11%

Oxford

300

279

-7.00%

$267,000

$275,000

3.00%

Penobscot

625

579

-7.36%

$209,000

$240,000

14.83%

Piscataquis

104

104

0.00%

$172,500

$203,450

17.94%

Sagadahoc

135

150

11.11%

$355,000

$395,000

11.27%

Somerset

208

206

-0.96%

$182,250

$200,000

9.74%

Walter

188

154

-18.09%

$274,450

$323,500

17.87%

Washington

175

129

-26.29%

$160,000

$237,500

48.44%

York

892

832

-6.73%

$400,000

$460,000

15.00%

Also Read :  The new Implicit Bias and expanded Fair Housing course are available for your 2023 California real estate license renewal

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 nationwide multiple listing service with over 6,200 licensees entering active and sold property data. Statistics reflect properties reported as sold in the system within the specified time periods. Contacts: Maine Association of REALTORS® President Madeleine Hill (Roxanne York Real Estate, Bailey Island) – 207-807-6578 [email protected] Maine Association of REALTORS® President-Elect Carmen McPhail (United Country Lifestyle Properties of Maine, Lincoln ) – 207-290-0371 [email protected]tiesme.com For further contacts: [email protected]



Source link