The latest home sales report from Maine Listings provides for mixed reading with home sales down, prices up and the inventory of available properties for sale at a recent high.
The number of homes sold last month was down 10.03% compared to the same month last year. For the same period, conversely, prices paid jumped 5.45% year-on-year.
The median sales price (MSP) for an existing single-family home in Maine is now $406,000 – the highest ever on record. The MSP indicates that half of homes sold for more and half for less.
The rising inventory has seen the number of available homes for sale increase for the fourth straight month and peak at the highest number in almost 3 years which industry watchers point to as positive news for buyers.
The National Association of Realtors (NAR) announced a single-family existing homes’ sales decrease of 4.3% nationwide comparing June 2024 to June 2023. Sales prices increased 4.1% to a national MSP of $432,700.
Regionally, sales in the Northeast eased 6.0% while the regional MSP rose 9.7% to $521,500.
