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February 24, 2012 | last updated February 27, 2012 7:23 am

Home sales rise 2%, but prices drop

Home sales ticked up 2% in January over the same month last year, while the median price slid by nearly the same amount.

According to the Maine Real Estate Information System Inc., a total of 547 single-family homes were sold last month, a 2.05% rise over January 2011 and the seventh consecutive month of increases. The median sales price, however, fell 1.88% to $157,000.

Nationally, home sales rose 2.3%, while the median price decreased 2.6% to $154,400. In the Northeast, home sales increased 7.1%, while the median price dropped 4.2% to $225,700.

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