Home sales rose, prices went up and buyers had more properties to choose from than a year ago according to the latest market data released by Maine Listings.
Eight hundred and fifty-three properties exchanged hands last month, a 13.28% increase over January 2024.
The median sales price (MSP) was also up, by 9.07% to $385,000 over the same period. The MSP indicates half sold for more and half for less.
The good news for buyers was there were also more homes for them to consider with the “for-sale” inventory up by 16% in January than in January 2024.
The National Association of Realtors (NAR) reported a 2.2% rise in national sales last month, while the MSP increased by 5.0% to $402,000.
Regionally, sales in the northeast were up by 4.2% and the MSP in the region rose by 9.5% year-on-year to stand at $475,000.
