December Maine Housing Report

Maine Home Sales Down 9.85 in November

SOUTH PORTLAND (December 22, 2014)— Maine Listings today reported a 9.85 percent decline in sales of single-family existing homes last month. The median sales price (MSP) dipped 1.43 percent to $172,500. The MSP indicates that half of the homes were sold for more and half sold for less.

The National Association of Realtors reported a national sales increase of 2.4 percent, while the national MSP rose 5.6 percent to $206,200. November sales in the regional Northeast were up 4.6 percent and the regional MSP increased 1.3 percent to $246,100.

Angelia Levesque, President of the Maine Association of Realtors, said, "Late in the year, Realtors continue to educate both buyers and sellers about their local market conditions, available inventory, steady prices, and historically-low interest rates."

Levesque, a Realtor with Better Homes and Gardens Real Estate/The Masiello Group in Bangor, says that in 2015, we can expect to see "motivated and focused sellers and buyers. Start the home buying purchase process now to take advantage of tax savings in 2015."

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 "rolling quarter" months of September, October, and November of 2013 and 2014.